Utah's economic development, finance and tax organizations provide a range of incentive programs to initiate new business and commercial investment. Specific programs include the Utah Department of Workforce Services (DWS), Workforce Investment Act (WIA), and the Short-Term Intensive Training (STIT).
The Economic Development Tax Increment Finance (EDTIF) assists relocation and expansion of both businesses new to Utah and companies who are already located in Utah who are looking at major new expansions that will create significant new job development.
IAF like the EDTIF has similar requirements for new jobs and capital investment in Utah. The Incentive is based on a post-performance per job or capital investment and can payout appropriated post-performance cash while the ETIF issues tax credits. Consequently, IAF awards are substantially smaller and less common than ETIF incentives.
Also included: Specialty Incentives, Industrial development bonds, Incumbent Worker Training, Short-Term Intensive Training (STIT), Workforce Investment Act (WIA), and Foreign-trade zones:Recycling market development zone program. Area Development
