Financing & Incentives
Ogden City can offer business assistance for select projects using various tools including:
- Business loans through the Ogden City Business Information Center (BIC) and its partners
- Loans for brownfields remediation in Ogden through an EPA Brownfields Revolving Loan Fund
- EB-5 Foreign Investor Program
- New Market Tax Credits and NMTC-backed financing
- Tax increment financing for projects in targeted redevelopment areas
- Relocation resources and housing programs such as down payment assistance and low-interest.
- Historic preservation tax credits for qualifying commercial properties. The recently approved Ogden Commercial and Industrial Properties Multiple Property Submission (MPS) enables more of Ogden’s buildings to be listed on the National Register, the first step to qualify for preservation tax credits. Learn more about how to benefit from the MPS.
Email our office to discuss which tools would best fit your project.
Job Training Assistance
The State of Utah provides several job training assistance programs:
- Custom Fit Training is offered by Utah’s technical colleges. The colleges develop and coordinate training programs customized to employers’ needs. Up to 35% of the employers’ training costs may be covered.
- On-the-Job Training (OJT) is offered by the Department of Workforce Services (DWS). DWS helps employers provide training for new hires specific to their new job requirements. DWS reimburses employers for up to 50% of the participants’ wages during training.
Economic Development Tax Increment Financing (EDTIF) Tax Credit
The EDTIF Tax Credit is post-performance, refundable tax credit up to 30 percent of new state tax revenues (state corporate, sales and withholding) over the life of the project.
- Create at least 50 new jobs
- Pay at least 110 percent of county average wage
- Demonstrate company stability and profitability
- Secure commitment from local community to provide a local incentive
- Demonstrate competition with other locations
- Enter into an incentive agreement with GOED that specifies performance milestones
Sales Tax Exemption for Manufacturing Equipment (Section 59-12-104)
Manufacturers (Standard Industrial Classification 2000 to 3999) are exempt from sales tax on the purchase or lease of machinery and equipment used primarily for manufacturing activities.
Research Tax Credits (Section 59-7-612)
Utah tax code allows a non-refundable income tax credit for qualifying research expenses in Utah, as defined in Section 41 of the Internal Revenue Code. The credit is:
- 5% of qualified research expenses in Utah that exceed a base amount
- 5% of payments made to a qualified organization for basic research in Utah that exceed a base amount
- 7.5% of qualified research expenses for the taxable year
Other Tax Exemptions
Sales of products purchased for resale as an ingredient or component part of a manufactured product are exempt from sales tax in Utah (Section 59-12-104).
Sales of electricity and fuel for industrial use are exempt from sales tax (Section 59-12-104).
There is no property tax on inventory held for resale in the normal course of business Section 59-2-1114).