Sept. 27, 2006

  

A Publication of the Economic Development Corporation of Utah
CEO Jeff Edwards

PRESIDENT'S  

MESSAGE

EDCUTAH's Matching Grant Program is Available to Utah Communities

Economic development news often appears to focus on the large, flashy projects. Behind the scenes, however, many communities are expanding their roles to become resources for economic development engines at the grassroots level. Today’s feature article focuses on EDCUTAH’s matching grant program available to communities throughout Utah, interested in expanding specific economic development initiatives.

Today’s issue also includes links to many of the ED-related news stories from the past week. As always, if you have comments, suggestions or topics you’d like to see in the Economic Review, please contact us by clicking the “Comments” link on the bottom of this page.

Enjoy!

Jeff Edwards
Jeff Edwards
President and CEO

FEATURE

EDCUTAH Offers Matching Grants
to Support Specific Economic Development  Efforts


Every year since 1989, EDCUTAH has awarded matching grant money to support specific economic development efforts around the state by communities, counties, and non-profit organizations. To date the grants have totaled more the $606,597, says Sherrie Martell, public development manager.

This month EDCUTAH awarded $45,000 in matching funds for the 2006-2007 year grant cycle. This included a $5,000 grant from Mountain America Credit Union which they provided this year to augment the grant program. Martell says there are three types of matching grants available:

Grants can be used any number of ways, as long as they fit within the guidelines for each of the grant types, says Martell. For example:

How the Program Works

Martell says EDCUTAH will reimburse up to one half the cost of a pre-approved project (to a maximum of $5,000); however, established guidelines specify allotment amounts, according to the three grant types. Selections are based on the quality of the project, how well the project fits into the community's overall marketing strategy, the distribution plan, audience, follow-up plans, and the ability to measure results. Special consideration is given to projects:

Grant Committee

A grant committee consisting of EDCUTAH staff and investors reviews each application and determines award amounts, with final approval from the EDCUTAH board of directors. The grant committee is comprised of:

Application Deadline

The matching grant program follows an October to September cycle. Applications for the 2007-2008 year grant cycle must be received by September 1, 2007. Award money will be available in October 2007, and all approved projects must be completed within one year of the grant agreement date (Sept. 2008).

Martell says a project is complete when all activities covered by the grant agreement are finished, including copies of all paid invoices, and at least one copy of the final project (when applicable); however, EDCUTAH may also require a written explanation of the results of the project prior to the final payment.

Click here for application information.

nanoUtah 2006

Utah's Statewide Nanotechnology Conference: Call for Participation


nanoUtah 2006 will bring together members of the business community, government representatives and academic researchers and educators involved and interested in the development and commercialization of micro and nanotechnology on Thursday, October 5, 2006 at the University of Utah (south of Merrill Engineering Building in EMCB 104).

The format of the conference is to first: present a challenge for researchers and businesses in the state; second: provide a rapid-fire format for presenting the unique research capabilities and business interests in Utah; and third: plan and facilitate specific action to make Utah competitive. (Register here.)


EDCUTAH PARTNERS


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IN THE NEWS

Economic Development Headlines

Fresenius Incentive OK'd

- Fresenius Medical Care NA has received approval for a reworked state financial incentive — a move by a government-related board to land a $340 million expansion in Weber County in a competition with two other states. (Morning News)

Outdoor Recreation Convinces Utah of Wild Land's Economic Assets

- Peter Metcalf feels vindicated. In May of 2003, he scared Utah business and government leaders with a threat to move the Outdoor Retailer trade shows elsewhere because the state was not protecting its wild lands enough. Now the Black Diamond Equipment Ltd. co-founder senses a much greater appreciation in Utah for the importance of outdoor recreation. (SL Tribune)

Success of Outdoor Show Ups Convention Expectations

- Business expectations are rising now that an expanded Salt Palace Convention Center showed off its potential by playing host last month to the biggest Outdoor Retailer Summer Trade Show ever. Buoyed by the success, which prompted industry publication Tradeshow Week to say the facility "astonished industry observers," Salt Lake Convention & Visitors Bureau (CVB) President Mark Beck on Thursday announced an ambitious goal for 2007.
(SL Tribune)

SLC Vies for Europe Nonstop

- An alliance of government and business groups across Utah is hurriedly preparing a package of information that will urge Delta Air Lines to launch its first nonstop route to Europe from Salt Lake City next summer. The alliance, which includes Gov. Jon Huntsman Jr.'s office, Salt Lake City International Airport and the Salt Lake Chamber of Commerce, is asking businesses and associations to write letters that will be packaged and forwarded to Delta.
(SL Tribune)

Business Aid Bill Hung Up on 'Rural Utah'

- State officials and representatives of rural areas are fine-tuning language in a draft bill that would change how much economic development financial incentives go to spur business growth in rural areas of Utah. (Morning News)

Utah Economy Growth Cooled by Labor Shortage

- The Utah Department of Workforce Services says that a shortage of temporary workers in the state may be arriving and may forecast a tighter labor market overall in the near future. The temporary worker pool grew more slowly than in recent months. (Toole Transcript Bulletin)

Metal Company Rejects Utah

- Brush Wellman, an Ohio company that had been considering expansion in Utah, has instead decided to build a $60 million manufacturing plant in its hometown of Elmore. The company, a global supplier of copper, nickel and beryllium alloys, had been seriously looking at Delta, company officials said. In fact, the state of Utah in December had offered the company a tax rebate of up to $700,000 if it expanded here. (SL Tribune)  (Morning News) (Toledoblade)

Outdoor Recreation Industry Finds Playing Field in Utah

- Going out to play is big business in Utah. “Tourism and outdoor recreation…there’s a lot of play involved, there’s a lot of fun involved, but it really is big business with significant economic impact,” said Steve Burr, director of the Utah State University’s Institute for Outdoor Recreation and Tourism. (Utah Business Magazine)

Ski Butler Expands to Aspen, Salt Lake City

- Ski Bulter, a Park City business that offers skiers and snowboarders hassle-free in room fitting of ski and snowboard equipment without leaving their accommodations, has expanded to Aspen and Salt Lake City. (Utah Business Magazine)

Roundtable Focuses on Small Business Issues

- Utah’s booming economy hasn’t bypassed small businesses, according to industry experts who gathered Wednesday at the annual Utah Business magazine’s small business roundtable, where small business owners and advocates discussed the business climate, health care and other issues. (Utah Business Magazine)

Deer Valley, Park City Make Top 5 in SKI Magazine's Resort Guide

- SKI Magazine's annual "Top 50 Resort Guide," which ranks North American ski resorts, names two Utah skiing havens in the top five.
Deer Valley and Park City are ranked second and fifth, respectively. (Utah Business Magazine)

BYU a Leader in Marketing Research to Private Sector

- When it comes to cashing in on research, BYU is one of the best in the United States and Canada, according to a report released by an economic think tank Wednesday. The California-based Milken Institute ranked Brigham Young University seventh overall in a report titled "Mind to Market: A Global Analysis of University Biotechnology Transfer and Commercialization." (Daily Herald)

Canopy Breaks Ground for Its Fifth Major High-Tech Office Building; Governor Jon Huntsman Jr. Praises Continued High-Tech Growth

- Canopy Properties broke ground today on Canopy V, a $10 million, 95,000-square-foot high-tech office building in Lindon, Utah. Utah Governor Jon Huntsman Jr. presented a keynote address recognizing the contributions of Canopy and its founder, Ray Noorda, to Utah's successful high-tech economy. (BusinessWire)

Logan's Downtown Business Manager Steps Down

- After six months on the job, Logan Downtown Alliance Business Manager Jana Manley is stepping down. She was hired in mid-March as a replacement for Bob Marcolese, who left the post in January to pursue a job in North Carolina. (Logan Herald Journal)

Ty Detmer to Speak at Chamber’s Annual Luncheon

- Ty Detmer will lead the way Thursday, as the Salt Lake Chamber of Commerce kicks off its 104th annual meeting luncheon with the theme ‘Get the Game Plan for Business Success.’ (Utah Business Magazine)

Feds Boost St. George Airport

- Plans for a new airport for this southwestern Utah community soared higher on Monday when the project received a $17.2-million federal grant. (Salt Lake Tribune) (Spectrum) (Morning News)

Procurement Made Easy

- Next month the Governor's Office of Economic Development (GOED) will be hosting a symposium on selling to the government and military, a first for Utah, let alone the nation... (KCPW)

Oil is Both Boon and Bane of the Reservation

- ANETH, San Juan County — It is unclear how the area along the San Juan River came to be known as Aneth. One historian surmised it came from the Spanish word anexo, meaning annex. (Morning News)


CALENDAR

Sept. 28:

"What's Goin' Down Up North" - A summit to partner and showcase business and economic development activity in Northern Utah. (USU Innovation Campus--8 a.m. to 3:15 p.m.; RSVP by Sept. 15 to icstaff@usu.edu or call (435) 797-9610. Click here for more details)

Nov. 12-15:

CoreNet Global Summit (Orlando, FL.)

Jan. 10, 2007:

Washington County Economic Summit (St. George)
7:30 a.m. - 2:30 p.m., for more information contact:
Dixie Business Alliance, 225 South 700 East, St. George, 84770. Call (435) 652-7724 or email; website:
http://www.whatsupdownsouth.com

Feb. 8, 2007:

23rd Annual Investors Choice® Venture Capital Conference (Salt Lake City), presented by the Wayne Brown Institute
Learn the venture process, build a fundraising presentation and meet with venture, corporate and angel investors. If your company has or is near sales and/or has previous investment, a strong management team, proprietary technology, and has a credible expectation of doing $30-$100 million USD a year in sales in 3-7 years, you should submit an expanded executive summary and one-page fact sheet to this conference.
Submission deadline is October 30th. For more information visit: www.venturecapital.org/utah.