Economic Assistance Grant Program 2025 Tier 1

The Economic Assistance Grant Program, managed by the Utah Governor’s Office of Economic Opportunity, aims to bolster Utah's economy by supporting businesses that promote and sustain economic growth. This program aligns with the state's mission to foster a robust economic environment by providing essential services related to industry, education, community development, and infrastructure. It serves as a vital tool in driving statewide prosperity, with a focus on creating opportunities and enhancing the overall economic landscape of Utah. The grant program targets for-profit and nonprofit entities with their principal place of business in Utah, provided they are registered and in good standing with the Utah Division of Corporations and Commercial Code. Government entities are explicitly excluded from eligibility. The primary impact goal is to develop and strengthen Utah's key economic sectors, ultimately leading to increased economic activity, job creation, and improved community resources across all counties in the state. Grant prioritization is centered on projects that contribute to Utah’s five targeted industries: Advanced Manufacturing, Aerospace & Defense, Financial Services, Life Sciences & Healthcare, and Software & IT. This strategic focus ensures that funding is directed towards sectors with high growth potential and significant economic impact. The program's theory of change posits that by investing in these specific industries and supporting eligible businesses, Utah can accelerate its economic development and maintain a competitive edge. The program offers tiered funding to accommodate businesses of varying sizes, with grant requests ranging from up to $50,000 for Tier 1, up to $100,000 for Tier 2, and up to a maximum of $200,000 for Tier 3. The overall grant size for the program is between $100,000 and $500,000, with a duration of 2 years, though individual projects are expected to be completed within 18 months from the award date. Expected outcomes include the successful completion of projects that significantly contribute to the targeted industries, measurable improvements in economic indicators within the state, and the sustained growth of businesses receiving the grants.