Flexibility Sought in Expansion of Aid Fund

Summary

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Utah's $10 million Industrial Assistance Fund, a pool of money previously dedicated exclusively to the creation of new jobs, may soon be available for a wider variety of business needs -- particularly those of the state's small businesses.

HB75 seeks to give IAF administrators and overseers more flexibility in the way funds are distributed, according to the bill's sponsor, Rep. David Clark, R-Santa Clara. The bill provides that 20 percent of IAF money may be used for "economic opportunities": unique business or community circumstances that will provide the catalyst for the growth or retention of Utah's commerce and industry.

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Extract

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Flexibility Sought in Expansion of Aid Fund

David Harmer, executive director of the Utah Department of Community and Economic Development, told the House Workforce Services and Community and Economi...

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