Greater Ogden Business
Incentives
Utah
State
Utah Industrial
Assistance Fund
Initially structured as a loan through the Utah
Division of Economic Development, this becomes a
grant when the company meets projected job
creation levels or local expenditures. Financial
strength of the company and track record are very
important. IAF assistance is tied to creating
higher paying jobs than county average.
Location: 324 South State, Suite 500 Salt Lake
City, Utah 84111
Phone: 1-877-488-3233
Freeport
Law
Utah's Freeport law is one of the most liberal
inventory tax laws in the country. Goods used by
retailers, wholesalers or manufacturers for
processing and sale in Utah are exempt from ad
valorem taxes.
Industrial
Revenue Bonds
Financing tool for manufacturing facilities that
typically provides lower interest rates, and high
marketability due to tax exempt status of bond.
There is a $10 million cap per issue.
Sales
Tax Exemption for manufacturing equipment
Manufacturing firms do not pay sales tax on new
machinery for start-up or replacement equipment.
Research
tax credits
Provides an income tax credit of up to 6% of a
tax payer's Qualified Research Expenses for the
tax year in excess of the Taxpayer's Base Amount.
Limited to Qualified Research conducted in Utah.
Qualified Research Expenses include the purchase
price of machinery and equipment primarily used
for conducting Qualified Research in Utah and
wages paid to an employee engaging in Qualified
Research. Covers computers, computer equipment
and software. Available only if the equipment or
machinery is not exempt from the payment of sales
or use taxes.
Davis
County
Revolving Loan Fund
The revolving loan fund of Davis County was
established in 1984 using federal community
development block grant funds. Today, the program
is funded primarily via past loan repayments.
This program is a tool used to promote business
growth and expansion. The purpose of the fund is
to provide "gap financing" to establish
county businesses to assist with their growth and
expansion.
Employee Training
Programs
Davis Applied Technology Center, located in
Kaysville, offers training in over a dozen
vocational fields. The Center also offers "custom
fit" training programs to meet specific
needs of individual employers. "Custom fit"
training funds provide both classroom education
and on-the-job experience for new employees.
Ogden
City & Weber County
Business
Development Loans
Ogden City has instituted a Small Business Loan
Program to assist local businesses. Primary
objectives are to fill financing gaps, revitalize
downtown, and create jobs. Funds may be used for
a variety of project costs, including real estate
acquisition, new construction, rehabilitation,
equipment purchases, and working capital. The
maximum loan amount is $90,000. For more
information, contact:
Ogden City Business Information Center
Location: 2444 Washington Blvd., Ogden, Utah
84401
Phone: (801) 629-8607
Business
Information Center
The Business Information Center (BIC) is a
business resource library equipped with seven
computer workstations, books, videos, and
reference guides to assist in developing a
business plan, promotional materials, office
templates, financial statements, and IRS tax
forms and publications. The BIC is designed to
assist start-up and existing businesses
considering expansion, seeking financial
assistance, selling their business or in need of
business counseling.
Location: 2444 Washington Blvd., Ogden, Utah
84401
Phone: (801) 629-8607
Enterprise
Community
Ogden's downtown and much of its industrial area
is located in a federally designated Enterprise
Community. Businesses locating in that area may
qualify for special tax incentives, including
wage credits, enhanced deductions, and bond
financing. Contact Ogden City Business
Development for further information.
Location: 2549 Washington Blvd., Ogden, Utah
84401
Phone: (801) 629-8910
SBA HUBZone
The U.S. Small Business Administration (SBA) has
designated certain census tracts in Ogden's
downtown and industrial area as a "HUBZone."
Businesses in this area which qualify, may
receive special preferences in obtaining federal
contracts, such as those let by Hill Air Force
Base.
Custom Fit Training
Program
Customized training at the Ogden-Weber Applied
Technology Center to meet company's needs. $500
cap per employee. Contract processing can be fast-tracked
to 15-21 days.
Ogden's High
Technology Center
Downtown Ogden will be the hosting a new high
technology center for research, education and
training. The center will be housed in the
historic American Can Facility located at 20th
Street and Lincoln Avenue. The concept for the
Ogden High-Tech Center is to create a multi-university
extension campus and research park in downtown
Ogden to facilitate the development of a
technology incubator for northern Utah.
James E. Bohne, Jr.,
REALTOR®
Mobile: (801) 791-9579
Office: (801) 476-9500
Fax: (801) 476-9581
E-mail: j.e.bohne@att.net |
Crest
Realty Inc.
Equal Housing Opportunity.
Equal Opportunity Employer. |
Copyright
© 2003-2005, James E. Bohne, Jr., All Rights
Reserved
|
