Targeted Private Investment

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Presentation transcript:

Targeted Private Investment Utah Rural Jobs Act Targeted Private Investment

What will the Rural Jobs Act do? Big Picture Good Policy Practices $42 million of private investment into Utah businesses At least 70% invested outside the Wasatch Front Affordable debt and equity instead of tax credits for growing businesses (you need cash!) 100% invested in Utah Expert federally licensed fund managers (SBA and USDA) Fund-guaranteed job creation for the state

What areas qualify? At least 70% of investments must be in NON-METRO counties (rural) Up to 30% of investment can be in METRO areas There is a waiver process to qualify an area as “rural in nature” NON-METRO METRO

Who qualifies? Qualifying Industries Qualifying Size Aerospace Defense Energy and natural resources Financial services Life sciences Outdoor products Software development Information technology Manufacturing Agribusiness Less than $10 million in net income Fewer than 150 employees

How to learn more? Investments should begin in Q1 2018 Contact Linda Gilmor at the Governor’s Office of Economic Development, in December, for introductions to the fund managers