Utah Code 63N-3-112. Talent development grants

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.

Administrator: means the executive director or the executive director's designee. See Utah Code 63N-3-102
GO Utah board: means the Board of Economic Opportunity created in Section 63N-1a-401. See Utah Code 63N-1a-102
Process: means a writ or summons issued in the course of a judicial proceeding. See Utah Code 68-3-12.5
Restricted Account: means the restricted account known as the Industrial Assistance Account created in Section 63N-3-103. See Utah Code 63N-3-102
State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
Talent development grant: means a grant awarded under Section 63N-3-112. See Utah Code 63N-3-102

(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