Criteria

Guidelines and Criteria

The following basic criteria (according to location) are used to screen an application before it is considered for Board approval.

URBAN

Relocation/Expansion to an Urban County (Davis, Salt Lake, Utah and Weber Counties)

RURAL

Relocation/Expansion to a Rural County (All counties except for Davis, Salt Lake, Utah and Weber Counties)

CORPORATE

If your company does not fit the Rural or Urban Targeted programs you may be considered as a Corporate Client

All new jobs, for which a company expects an incentive, must pay at least 25% above the County Median Salary
Companies must project employee growth for at least 50 new employees meeting the salary level at least 25% above the county median
The company must be in one of the following Target Industries or Economic Clusters
-Corporate Headquarters
-Life Sciences
-Aerospace (including general aviation and composite materials)
-Software Development and Information Technology
-Outdoor Recreation Products

All new jobs must pay above the County Median Salary
Employee growth for new employees must be projected

The company must have a 2 to 1 Utah Purchases ratio

For ever dollar that the copany receives from the IAF, $2 must be spent with Utah businesses, vendors, or subcontracts

Applicants should be aware of the following eligibility guidelines:

GREEN FLAGS

RED FLAGS

-Positive Economic Impacts

Number of jobs created over 5 and 10 years
Percent of salaries over the county median
Long term capital investment
Capital investment in equipment
Taxable business purchases

-Financial problems in 3 year period

Bankruptcy
Losses
Sales declines
Liquidation of assets

-Venture Capital Characteristics

In business less than 3 years
Risk in the particular project
Negative upfront cash flows
Non-Profit organizations or businesses