Sustainable and Resilient (STAR) Business Grant [OLD]
No longer accepting applications.
For STAR Business Grant recipients:
If you are ready to begin your final grant payment request, complete this form to start the process. Keep in mind...
- To receive your final grant payment, you must have expended all of your first grant payment in alignment with your project application
- All grantees are required to submit proof of expenditure (receipts, invoices, and other related documents) as part of their final payment request
- If submitted documents and/or expenses are unclear, Grand County Economic Development may request additional documents to verify the use of your grant funds
What was required to apply for the STAR Business Grant?
- Completed grant application
- Construction Quotes
- Consultation with our SBDC
- Profit and Loss (P&L) statements for 2021, 2020, and 2019
- Project Budget
- State of Utah Articles of Incorporation Number @(Model.BulletStyle == CivicPlus.Entities.Modules.Layout.Enums.BulletStyle.Decimal ? "ol" : "ul")>
Grand County Economic Development sought to fund organizations, programs, and projects that shorten the gap between wages and the cost of living for local residents while addressing the need for an increasingly resilient and diverse economy. Grand County Economic Development pursued greater economic diversification in Grand County by supporting the existence and expansion of organizations that provide year-round, stable employment opportunities and are resistant to both economic shocks and seasonality.
Grand County Economic Development aimed to support projects that sustainably raised wages or lowered the cost of living for Grand County workers. Provided with free capital, businesses should have been able to invest in improvements that boosted productivity. The resulting increased profits could then be invested in workforce opportunities and retention.
Economic Diversification - what's that?
Grand County Economic Development defines economic diversification as economic development that supports a sustainable, livable, and resilient Grand County:
- Sustainable, in that we actively protect our public lands and preserve our community's natural resources;
- Livable, in that we support the creation of year-round, high-paying jobs in a community that offers a high quality of life and economic mobility; and,
- Resilient, in that we foster a diverse mix of industries that can withstand an array of economic shocks.
Examples of Applicable Projects
- Acquiring a larger or new production or commercial space
- Offsetting housing costs, such as renting a room for an employee
- Training workers in new skills and raising their wages as a result
- Creating new streams of revenue, such as establishing e-commerce for a local artisan @(Model.BulletStyle == CivicPlus.Entities.Modules.Layout.Enums.BulletStyle.Decimal ? "ol" : "ul")>
Grand County Economic Development encourages applicants to propose imaginative and innovative projects that do not necessarily align with the above list of examples.
Resources for Applicants
- DRAFT your application responses before filling out the actual form
- Financial assumptions are crucial for proprietors who have yet to assemble financial projections
- Grand County Economic Diversification Action Plan (2020)
- Grant one-pager - share this with your friends to help us spread the word!
- Grant proposal as approved by the Grand County Commission on April 19th, 2022
- Information on Required Grant Match
- List of typical business expenses in a basic spreadsheet template (encouraged for those reporting start-up costs)
- Listen to Economic Development Director August Granath discuss this grant on KZMU
- Profit and Loss (P&L) Statement template
- REGISTER for your free SBDC counseling appointment - this is required
- Research by the Economic Policy Institute explaining economic multiplier effects by industry
- Research by the Kem C. Gardner Policy Institute explaining Utah's economic diversity by county
- Search your organization to ensure your business status is "Active" before applying
- Watch our how-to apply webinar @(Model.BulletStyle == CivicPlus.Entities.Modules.Layout.Enums.BulletStyle.Decimal ? "ol" : "ul")>