
Uintah County stands to benefit from tax benefits for businesses, new or struggling, through a Utah Enterprise Zone program. The program is designed for areas that include factors of “poverty, unemployment, chronic abandonment, and other economic stress problems. (Gary Parker/Vernal Express)
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“Counties with 50,000 or less population can apply for economic development as needed,” says Tammie Lucero, economic development officer for the region.
Those needs may entail factors of “poverty, unemployment, chronic abandonment,” among other economic stress problems explains Lucero.
Businesses that locate to or spring up within designated enterprise zones are eligible for a variety of commercial tax credits.
Lucero spoke before the Uintah County Commission about the Utah Enterprise Zone Program.
“We are putting together an application for Utah Enterprise Zone status on lands in Uintah County,” says Lucero, adding the application is a renewal and updating of information.
In 1996, new tax credits added by the state legislature expanded the scope of enterprise zone designations in Utah. Uintah County, the cities of Vernal, Naples and Ballard, and unincorporated areas of the county are looking to capitalize on this expansion.
The application process identifies specific areas of approved commercial or manufacturing development within a county.
“Our application, which is largely completed now, includes each of the municipalities and much of the unincorporated portion of the county,” the economic development officer says. “It will encourage eligible businesses to establish within an enterprise zone for available tax credits.”
Tax credits, according to the Utah State government website, can be carried over three years for a business located in a designated enterprise zone. Credits vary by legislative determination of designation.
Commissioner Mike McKee stated that “the potential benefit to business throughout the county is tremendous, so we are trying to designate as much private land in the county as possible.”
The application will be submitted before the end of the year.
mbernard@vernal.com