Utah Code 63N-3-112. Talent development grants
Current as of: 2023 | Check for updates
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63N-3-112. Talent development grants.
(1) | A for-profit business that is creating new incremental high paying jobs in the state, may apply to receive a talent development grant from the restricted account. |
(2) | In accordance with the provisions of this section and in consultation with the GO Utah board, the administrator may award up to $10,000 per new job created. |
(3) | The administrator shall designate an application process for a business to apply for the grant. |
(4) | A business may apply to receive a grant only after each employee has been employed at qualifying wage levels for at least 12 consecutive months. |
(5) | Money granted for a talent development grant under this section shall be deducted from any other money or incentive awarded by the office to the business. |
(6) | Grants awarded under this section are only to reimburse a business for the costs incurred to recruit, hire, train, and otherwise employ an employee in a newly created job. |
(7) | A business shall submit a hiring and training plan detailing what the grant money will be used for as part of the application process. |
(8) | The administrator may only grant an award up to an amount that is no more than 25% of the estimated costs to be incurred by the business for the costs in the hiring and training plan. |
Amended by Chapter 362, 2022 General Session