State of Utah Governor's Office of Economic Development

Rural Fast Track Grant Pre-Application

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The Rural Fast Track (RFT) Program is administered by the Governor’s Office of Economic Development (GOED) for the State of Utah. It is a post-performance grant available to small companies in rural Utah. The program provides an efficient way for growing small companies to receive incentives for creating high paying jobs in qualifying rural areas of the state, and to further promote business and economic development.

Qualifying Businesses Must:
Be located in a county of third, fourth, fifth, or sixth class.  (Utah Code Section 17-50-501; some third class cities may not qualify)
Be in business for at least 2 years.
Show 2 consecutive years of positive net income on tax returns.
Must have at least 2 full time employees. 
Demonstrate business promotion and economic development in a rural county (associated with “project summary”)
Create and retain at least 1 new high-paying job (110% or greater of average county wage) over a 12 month period.

 May be used for:
Construction of a new building (or add on to an existing building)
New or upgraded equipment (maximum grant for specialty vehicles is $25,000)
Value-added agriculture
Professional Services
Leisure & Hospitality (certain NAICS codes)
But, not: 
Non-profit organizations
•      Purchase of raw land (land purchase may be calculated in the overall project cost, but RFT may not be used for its purchase) 
Most vehicles
Computer/laptops, non-specialized office equipment, etc. 

What are the Incentives?
Incentive based on Capital Improvement/Purchases:
Up to $50,000 for qualifying capital improvement project. This requires a 50/50 fund match. Purchases made as listed under qualifying contractual uses must be made and paid for in full, and project completed before requesting reimbursement

Incentive based on job creation and retention:
$1,000 for each new full-time job paying 110% of the county’s average annual wage
$1,250 for each new full-time job paying 115% of the county’s average annual wage
$1,500 for each new full-time job paying 125% of the county’s average annual wage

The Governor’s Office of Economic Development (GOED) will administer the Rural Fast Track Program by entering into a legal agreement with the qualifying business. GOED reserves the right to deny the application request based on qualifying parameters at any time through the application process. Compliance standards as established in the legal contract by GOED must be met prior to reimbursement of Rural Fast Track funds.

To the best of your knowledge, having reviewed the above information, if your company appears to qualify you may click "Next Page" to proceed to the Rural Fast Track Pre-application.

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This pre-application form will be reviewed by the Rural Fast Track Approval Committee to determine if the company should move forward with the RFT application. It may be filled out and submitted by a company representative or a local Economic Development representative. A list of local economic development representatives is found here (right click and select 'open in new tab').
Company Information

RFT Grants are not available in the following counties: Salt Lake, Utah, Weber, Davis, and Washington. RFT Grants are limited to certain jurisdictions in the following counties: Box Elder, Cache, Iron, Summit, Tooele, Uintah.

Project Information
Business development incentive can be used for (but not limited to) the purchase of or the construction of a new building (or add on to an existing building), equipment, value-added agriculture, leisure & hospitality (certain NAICS codes), etc. 
The incentive CANNOT be used for (but not limited to) retail,  leisure & hospitality (exceptions for retail and L&H are made in certain eligible counties and depending on NAICS code), non-specialized vehicles, computer/laptops, bare ground,  etc. Please contact the Office of Rural Development for more information.

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Questions about this form ? Contact Linda Gillmor,

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