New Utah COVID-19 Economic Relief Programs Take Shape
July 17, 2020
New and improved grant programs, aimed at providing economic support to Utah businesses impacted by COVID-19, are being finalized under the Governor’s Office of Economic Development (GOED). These programs, a result of legislation, HB 5010, which passed the state legislature during a June special session, include a revamped Commercial Rental Assistance Program (ComRent), making it easier for businesses to qualify for grants from this $40 million fund. Other programs include a new $25 million Impacted Business Grant Program called Shop In Utah; a new $9 million Displaced Worker Grant Program called Learn and Work in Utah; and a new $5 million PPE Support Grant Program called Safe In Utah. The program names are part of a larger ‘InUtah’ campaign focused on promoting business activity here in the state as we navigate the COVID-19 pandemic.
Currently, only the ComRent program is accepting applications. Although the official launch dates for the other programs have not yet been announced, BioUtah is keeping close tabs on implementation and will update our life sciences community when we have more information.
A brief summary of the programs is provided below:
COVID-19 Impacted Businesses Grant – ‘Shop In Utah’
- $25 million in funding
- To qualify for this grant, businesses must offer a discount or other offer with an estimated value to consumers of at least 50% of the grant amount
- GOED must award at least 75% of grant funds to Utah small businesses (companies with 250 or fewer full-time employees)
COVID-19 PPE Support Grant Program – ‘Safe In Utah’
- $5 million in funding
- Provides grants to businesses to improve workplace safety for workers and customers during the COVID-19 pandemic through measures such as PPE purchases, workplace redesigns, signage, and technology solutions that allow for distance working
- $100 per full-time equivalent employee, or the actual expenses a company incurs in making these health and safety adjustments
COVID-19 Commercial Rental Assistance Program – ‘ComRent’
- $40 million in funding
- Grant providing rental relief to Utah small businesses that have lost revenue as a result of measures taken to minimize the public’s exposure to COVID-19
- Grant award amount is based on revenue percentage loss and actual rent expense
- Limitations are no longer imposed on PPP loan recipients who apply
- If you have already applied, your application will automatically be reconsidered