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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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Small businesses located in Salt Lake County may be eligible for Round 2 of the County’s Small Business Impact Grant, which includes $40 million in financial aid to help business owners impacted by COVID-19. The grant is funded through the County's CARES Act funds allocation to assist in local recovery efforts.

Learn More and Apply Today.


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County

Paycheck Protection Program (PPP) data for Salt Lake County

On July 6, the Small Business Administration (SBA) released some 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.

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 are open now! Learn if your business is eligible and what documents are required. 

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 at slco.org/slcomunidata

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.

Support Utah Businesses

Boost Business Bingo

Business Relief Hotline

  • Available to all Salt Lake County businesses to call Monday-Friday, 8 a.m. to 8 p.m., who need guidance on resources and information available related to COVID-19 relief. 
  • If you are unable to call during these hours, email questions to our team at COVID-business@slco.org.
  • Share this free Hotline service with others. 

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.
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
  • 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. 
  • Take the Draper Business Survey: bit.ly/DraperBusiness
  • Sign up for weekly information alerts by emailing info@draper.ut.us.
  • All other COVID-19 updates

Herriman

  • City COVID-19 updates
  • 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 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
  • The city is waiving its sign ordinance to allow A-framed signs, balloons and banners.
  • The Millcreek Business Council is asking businesses in the city to take its COVID-19 Business Impact Survey: https://www.surveymonkey.com/r/R6RK8ZJ
  • Businesses with license renewal in February, March, or April are allowed to pay up to 90 days late without late fee.
  • "Millcreek is Open" weekly e-newsletter highlights local businesses still operating during COVID-19. Email businesscouncil@millcreek.us to get your business information on the list.
Murray
Riverton
  • Beginning March 19, Riverton issued a directive to lift restrictions on permitted signs. For the following 60 days, the city allows temporary freestanding and wall-mounted banner signs to be installed without a sign permit. Questions surrounding temporary signage can be directed to the Riverton City Planning Department at 801-208-3138 or planning@rivertonutah.gov.
  • Fill out a business survey from South Valley Chamber.
  • Other Riverton COVID-19 Business Resources
  • List of local restaurants
Salt Lake City
Sandy
  • 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
  • For businesses that have a current lease on a commercial property in the state that is the principal place of business, with fewer than 100 employees, and experiencing 50% or more loss of gross monthly revenue after March 1, 2020. More details, including qualifications, can be found here.
  • Apply here beginning May 11.
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 here.
  • 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 here. 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

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.