Business Expansion and Retention (BEAR

BUSINESS EXPANSION AND RETENTION PROGRAM (BEAR Program) (U.C.A. 63N-3-103)

The Business Expansion and Retention Program is designed to grow new and existing rural businesses, influence rural job creation, and increase economic diversity in rural regions by enhancing the level of technical services provided . The BEAR initiative is available to rural county economic development offices, Business Resource Centers, Small Business Development Centers and formal partnership consortiums directly involving these entities within the state for business training and skill development .

BEAR actively reaches out to rural businesses and makes the connection between the company and needed existing resources from all agencies, higher education and other resources . BEAR is funded by the Industrial Assistance Fund .

Budget: Revenue

Beginning Balance Encumbered

Expended

FY 2014 FY 2015 FY 2016

$747,200 $1,234,600 $1,094,500 $556,500 $325,000 $484,100 $190,700 $440,400 $360,900

Historical Data:

FY 2014 FY 2015 FY 2016

Total Awarded BEAR Funds $191,700 $440,400 $360,900 Business visits 2,297 3,600 2,015 Unique business referrals 1,220 1,970 1,721

FY 2016 Grants by County

Sanpete — 6 Box Elder — 4 Wayne — 2 Grand — 1 Cache — 5 Emery — 2 Carbon — 1 Millard — 1 Morgan — 5 Sevier — 2 Duchesne — 1 Uintah — 1