Business Expansion and Retention

Business Services

Business Expansion and Retention

U.C.A. 63N-3-104.5

The Business Expansion and Retention (BEAR) grant provides funding that supports county-based economic development outreach to individual businesses. County economic development leaders assess the needs of the companies, address their goals, and then direct them to useful resources to help their businesses thrive in rural communities.

In addition to face-to-face business visits, BEAR funds are used for economic development projects within counties. These may include projects such as area sector business analysis, economic development planning, implementation of planning outcomes, and other projects enhancing rural economies. BEAR funds can also be used for specialized business training for individuals, business owners, and teams.

Initiatives

Traditional BEAR Activities and Project-Based BEAR Initiatives Traditional BEAR activities of business outreach and referral making were completed by many entities in FY 2020. These activities reached significant numbers of rural businesses, assisting them with specialized training, and meeting targeted business goals and outcomes.

Project-based initiatives were also promoted, giving counties funding to explore and fulfill economic development projects, including area and regional planning and plan implementation, that encourage and support business growth.

Sub-Grants for COVID-19 Relief Many rural businesses were negatively impacted by the COVID-19 pandemic, losing significant regular business. As a result, GOED administration created a rare opportunity to redirect BEAR funds in the 4th quarter of the fiscal year. Contracts were amended to allow for the distribution of BEAR funds directly to rural businesses, up to $1,000 each, to assist in payment of regular business expenses such as utilities, rent, payroll, payroll taxes, employee health benefits, inventory, etc.

Challenges and Achievements

The BEAR program for FY 2020 was designed to expand opportunities in diverse counties based on their unique needs and plans, rather than on a standard set of activities. Each applying entity was encouraged to be creative in their project designs, with their overall area economic development plan and goals as a central focus.

BEAR sub-grant awards for COVID-19 relief were highly successful. Many business owners expressed gratitude for receiving a sub-grant as they navigated significant downturns in their business. Our BEAR contract holders distributed $297,648 to 317 rural businesses across the state.

The BEAR program has been active for many years and has a legacy of service to rural businesses and communities. This year, the program was sunsetted by the state Legislature as new programs to benefit rural counties have been designed and implemented.