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Economy

EC_text_SM.jpgEconomic stability and recovery is a key focus of the County. Our Economic Impact & Recovery team has been formed to

1) Minimize the current and future impacts on local businesses and retain as many jobs as possible
2) Serve as a conduit of information and resources for businesses, community stakeholders, and residents suffering hardship during this time.


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County

Community Partners Grant Program

The Community Partners Grant Program aims to provide short-term economic support after identifying a need in order to successfully innovate amid recovery.

Salt Lake County’s strong relationships with partners like local chambers of commerce, housing authorities, legal aid, after-school programs, rental/mortgage assistance, and cultural arts are integral to successfully navigating the pandemic in our diverse communities.

The application is open to organizations from September 18-October 2, 2020.

Kem C. Gardner Institute: Salt Lake County Economy: What's on the Horizon?

Salt Lake County Economic Horizon 9-1-20 (002)_Page_15.jpg

Read the September 2020 Report Here.

SLCo Small Business Impact Grant

The $40 million program, funded through the County’s CARES Act allocation, is intended to aid businesses most severely debilitated during COVID-19. With a maximum award amount of $35,000, the SBIG is expected to benefit thousands of businesses.

Applications for Round 2 are open until 5 p.m. Sept. 18, 2020.

SLCo Small Business Impact Grant Information & Application

Economic Impact Information Portal

The Economic Impact Information Portal was created to address a gap in local economic indicators after surveying cities in the valley at the beginning of COVID-19. The tool provides targeted support to municipalities by increasing accessibility to local data and visualizing indicators, like monthly sales tax disbursements, Class B & C Road Funds, and a model of fiscal impact.

One of the dashboards in the Portal visualizes historic taxable sales comparing 2019 and 2020, showing decreases in multiple major business NAICS categories beginning with the onslaught of COVID-19 cases in Utah. However, it also shows that some industries saw increases – food and beverage stores, online retailers and building and gardening suppliers for home improvement.

Access the tool for impact insight. 

Paycheck Protection Program (PPP) data for Salt Lake County

The Small Business Administration (SBA) has released data on PPP recipients in Utah. From those spreadsheets, Salt Lake County has created a new dashboard on the Economic Impact Info Portal visualizing the number of recipients, cities they're located, industries that received aid, lenders who facilitated the aid, and the names of businesses receiving $1+ million dollar loans.

View the dashboard here: https://slco.org/slcomunidata

Download Salt Lake County's 7/6/2020 PPP data spreadsheet.

Download Salt Lake County's 8/8/2020 PPP data spreadsheet.

Consumer Sentiment Survey — July 2020

View the latest assessment of Salt Lake County Consumers here.

Consumer Sentiment Survey — May 2020

In early May, Salt Lake County staff dedicated to evaluating COVID-19's regional economic impact commissioned a Consumer Sentiment Survey, after seeing a gap in data available on the other half of the business reopening equation: consumer behavior and attitudes.

Graph: Consumers Want Sanitization From Businesses

A high number of those surveyed -- 81% -- said they were more likely to visit a business if those businesses were following local health and safety guidelines. Respondents emphatically said they would feel much more or somewhat more comfortable if businesses:

  • Sanitized high touch surfaces regularly
  • Provided sanitizer in prominent locations
  • Encouraged and maintained social distancing between customers
  • Provided minimal contact and pick-up options
  • Required daily symptom checks for all employee

Explore the entire Consumer Sentiment Survey by Y2 Analytics here.

Economic Impact Working Group

This group leads discussion, policy, and programs in the County and with municipal counterparts and other key regional stakeholders. To join EIWG's meetings and updates, email jcarroll@slco.org.

Support Utah Businesses

Stay Safe, Stay Open

Stay Safe to Stay Open is a statewide campaign to meet the critical imperatives of helping Utah address the health-related objectives to prevent and recover from the coronavirus while at the same time assisting the business community in an effort to appropriately strengthen our state’s economy.
 
Businesses participating in the campaign will be able to clearly identify their participation by colorful signage displayed in their windows and throughout their establishments, demonstrating that they have taken a pledge to follow the state’s guidelines.
 

Businesses Beware

Predatory Scams ( (English/Español/中文/Tiếng Việt)(English/عربى/Español/中文/Tiếng Việt/)

  • There are absolutely no fees necessary for businesses to file applications for federal or state aid. Do not work with organizations that tell you otherwise. It is recommended that you work with your existing bank or credit union should you have one, or find one from these legitimate sources: Utah Bankers Association or Utah's Credit Unions.

Boost Business Bingo

Municipal

Bluffdale

Cottonwood Heights

Downtown Alliance

  • “Tip Your Server” Fundraiser: Donate to Salt Lake City food and beverage workers displaced by the coronavirus. More than $170,000 has already been raised. Establishments can select up to 5 employees to nominate for $500 grants.

Draper

Draper First

The City announced a new partnership in August 2020 with South Valley Chamber and Draper Journal to publish a monthly glossy insert in the Draper Journal promoting and highlighting local business reaching 15,000 residents. Business features, spotlight and directory advertising fees have all been covered by Draper City.

This will extend for a six-month period. For more information in participating, email: jeremy@southvalleychamber.com.

Other efforts:

  • City Council adopted Ordinance 1430, allowing businesses to obtain temporary permits for extending the post of signs and waiving signage fees for those who file between March 20-September 19. 
  • Sign up for weekly information alerts by emailing info@draper.ut.us.
  • All other COVID-19 updates

Herriman

City Shop Around Program

To continue to support local Herriman businesses that have been economically strained due to the COVID-19 pandemic, the City is offering another round of “Herriman Bucks” for residents' use at a local business.
 
They’ve received three Herriman Bucks coupons by mail—each valued at $10—to be used at participating businesses between August 1 and September 15. The coupon is valid with a purchase totaling $10 above the total gift card amount (i.e., one card to receive $10 off a $20 purchase, two cards for $20 off a $30 purchase, or three cards for $30 off a $40 purchase). The gift cards may be used at any participating business in the city and are not redeemable for cash. Submit the used coupon(s) to the participating business at the time of purchase.
 
Participating businesses will have a sticker in their window with the City Shop Around logo (see above), noting they are a part of the program. Businesses will apply the discount and return the cards to the City for reimbursement. 

Other COVID Efforts

  • Herriman business signage regulations for temporary sign permits are suspended to allow businesses to communicate they are open during the COVID-19 outbreak. Temporary signs must be placed on private property and may not create an unsafe condition or public nuisance.

  • Building inspections will continue to be conducted. All business can be conducted by phone or online, (801) 446-5327. Meetings with the Planning Department and all other departments will be held electronically. Contact the respective departments to request virtual meetings.

Holladay

Midvale

  • Resources for Midvale businesses
  • Restrictions lifted on temporary sign ordinance for businesses to advertise adjustments to their services
  • Declared March 13, and ongoing for 30 days, the city announced a local emergency during which commercial and residential water service will not be disconnected for non-payment.
  • The City launched a "Keep Calm and Carry Out" social media campaign for restaurants.

Millcreek

Small Retail Business Promotion Grant

  • Have a current Millcreek Business License as of January 31, 2020
  • Demonstrate a business interruption caused by required closures due to the COVID-19 public health emergency totaling at least $5,000 of reduced retail revenue
  • RECEIVE: Up to $5,000 in reimbursement for business advertising
  • May include social media and digital promotions; direct mail; coupons; advertising space in print or online newspapers, magazines, or websites; radio; television; outdoor billboards or signage; flyers, doorhangers, and other printed materials; logoed T-shirts, hats, or merchandise; event sponsorships; or other legitimate marketing outreach to encourage increased sales and/or brand awareness. Cannot include consulting, payroll, or agency fees.

Apply to Millcreek between August 1 - August 31, 2020 HERE

Other COVID Efforts

Murray

Riverton

Salt Lake City

Salt Lake City’s Department of Economic Development has put out a new survey for local businesses to determine which resources your business or non-profit has been able to access, and also to better understand what resources you still need.
 

Sandy

Shop Sandy

Here's how the campaign works. When you shop at a local Sandy small business beginning in August 2020, simply take a picture at the store with some of your purchases and post it to Facebook or Instagram. **Tag the store (if they have an account), Sandy City, and the South Valley Chamber.
 
Residents will be entered into a monthly drawing to win cool prizes donated by Sandy businesses. Sandy City will also post weekly items* to purchase. If you buy the item of the week and post it, you will get two entries into the drawing. You can enter multiple times by simply shopping at multiple small businesses throughout Sandy City.
 
Visit the chamber's Facebook for ongoing details.
  • Sandy City is allowing a 90-day extension on business license renewal fees. Businesses needing an extension on business license renewals are encouraged to call the business license department at (801) 568-7252.
  • Businesses needing to advertise changes in services or hours are able to use A-frames, banners, balloons, etc in park strips during this time.
  • Those needing assistance with utility billing should call (801) 568-7110. 

South Jordan

South Salt Lake

Taylorsville

West Valley City

State Resources

Department of Workforce Services

  • Rental Assistance Program:

    Housing and Community Development Division launched a new Rental Assistance Program on May 11 for renters impacted by the COVID-19 pandemic and ineligible for unemployment benefits. More than $4 million is available through several programs, which will be implemented by regional agencies throughout the state. Call 2-1-1 for details in your area.

COVID-19 Commercial Rental Assistance Program

Statewide Business Resources

Utah Leads Together Small Business Bridge Loan Program

  • For businesses with 50 or fewer employees impacted by COVID-19, in loan amounts from $5,000-$20,000 with 0% interest for up to 60 months. Apply for the Small Business Bridge Loan Program.
  • ROUND 2: Apply during April 13-16. Those who applied in Round 1 are automatically reconsidered for Round 2 if you did not receive a reward in Round 1. 
Federal & National Resources

General Overview

There are no fees necessary for businesses to file applications for federal aid and loans. Do not work with organizations that tell you otherwise. It is recommended that you work with your existing bank or credit union should you have one, or find one from these legitimate sources: Utah Bankers Association or Utah's Credit Unions.

Read an overview of major federal programs and resources. The overview touches on the following:

  • U.S. Small Business Administration
  • Department of Labor
  • U.S. Department of Treasury
  • U.S. Economic Development Administration
  • Federal Emergency Management Agency (FEMA)
  • Export-Import Bank of the United States (EXIM)
  • U.S. Commercial Service
  • U.S. Department of Agriculture
  • CDC
  • World Trade Center (WTC) Utah

Disaster Loans in 3 Steps

Families First Coronavirus Response Act

Paycheck Protection Program

Small Business Administration Economic Injury Disaster Loan Program

  • In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000.
SBA Utah District Office
NACCED COVID-19 Resource Page
Coronavirus Small Business Issues and Solutions Guide : ChamberofCommerce.org

6 issues and questions businesses are facing:

  1. My small business qualifies as an “essential service” and is still open. How do I run my business effectively while minimizing the risk of infection for employees and customers? 
  2. My small business is experiencing inventory and supply chain disruptions and we cannot keep certain products stocked.
  3. I am unclear about my insurance coverage during the Coronavirus (COVID-19) pandemic. 
  4. My business has shifted to a Work-From-Home Policy. How do I manage employees effectively? 
  5. How do I adjust my approach to marketing in the wake of this situation? 
Private Companies' Small Business Grants Programs
Education Materials

Watch the first seminar from April 3, featuring former Gov. Mike Leavitt, Sen. Mitt Romney, ecologist Steve Alder, and other key Utah professionals.

Latest News

Utah Policy: Guest opinion: Building a resilient workforce & economy post-COVID19 requires looking at the future of jobs

Salt Lake Tribune: As economy reopens, Salt Lake County residents remain wary of coronavirus

Deseret News: Unemployment claims high, but decline for 7th week in a row as Utah businesses reopen

ABC4: Survey shows Salt Lake County resident concerns about engaging with businesses during COVID-19

ABC4: Salt Lake County research shows over 33k jobs have 98% risk of becoming automated

Gephardt Daily: Salt Lake County disburses CARES money to municipalities

KSL NewsRadio: Scammers target immigrant and refugee businesses seeking COVID-19 aid

Telemundo Utah: Estafadores tienen en la mira a comerciantes de Utah que buscan préstamos

KCPW: Forgivable loans to pay your employees and a hotline to connect you with economic help

Gephardt Daily: Salt Lake County launches Business Relief Hotline amid coronavirus pandemic