Opportunity Zones are low income census tracts certified by the U.S. Department of the Treasury into which investors can now put capital to work financing new projects and enterprises in exchange for certain federal capital gains tax advantages.
Ephraim City Opportunity Zone Map
Under the program, certain types of businesses locating to, or expanding in a designated zone may claim tax credits provided in the law.
Enterprise Zone Information
Eligible recycling businesses that are located in designated Recycling Market Development Zones qualify for tax credits.
Zones: Ephraim, Gunnison, and County Commercial Zones.
Recycling Zone Information
The HUBZone Program stimulates the economy by providing Federal contracting preferences to small businesses with HUBZone certificaton. Ephraim City is designated as a HUBZone.
HUBZone Information
The program provides an efficient way for existing small companies to receive incentives for creating high paying jobs in rural Utah and to further promote business and economic development. Sanpete Businesses have already received thousands of dollars in assistance.
Fast Track Information
The EDTIF tax credit is a post-performance, refundable tax credit for up to 30% of new state revenues (sales, corporate and withholding taxes paid to the state) over the life of the project (typically 5-10 years). It is available to companies seeking relocation and expansion of operations to the State of Utah.
Although providing effective training is always a good long-term investment, needed training may not always be affordable. Custom Fit Training provides grant money to assist in employee training.
Custom Fit Training Information
The Manufacturing Extension Partnership (MEP) is a non-profit organization chartered with raising the level of competitiveness, performance, and profitability of Utah’s manufacturers.
M.E.P WebsiteRevolving Loan Fund (RLF)
The Purpose of the RLF Program is to create permanent, long-term jobs within the Six County region by providing “gap” financing to new or expanding businesses for eligible acitivites.
Targeted Business Assistance Fund (TBAF)
The purpose of the Targeted Business Assistance Fund is to encourage economic development for start-up and expanding businesses by utilizing vacant buildings or targeted locations throughout the Six County region for primary business locations.
For more information on the above loans call Kevin at 435-835-4321
For Business Relocation Information Contact:
Sanpete County Economic Development Phone: 435-835-4321
kevin@sanpete.com
