Utah Governor's Office of Economic Development

10/14/2026

Empowering Utah’s female founders!

The Utah Microloan Fund is gearing up to accept applications for their Spring 2027 Banking on Women cohort.

Offered at no cost through scholarships from Synchrony Bank, this 15-week program provides mentorship and a supportive community for Utah women starting or growing a business.

Developed in partnership with Westminster University, the curriculum offers insights that can make the difference between an idea and a successful business.

The upcoming cohort includes an in-person Salt Lake City track and a virtual track specifically tailored for women in Rural Utah, along with a $300 mini-grant upon program completion.

Applications are due by October 30th. Apply for this great program here: http://www.utahmicroloanfund.org/bankingonwomen

10/08/2026

Today, as part of its REDTIF program, GOED awarded Baxter Aerospace a post-performance tax reduction to aid its upcoming expansion in Washington County.

The company expects to create 90 high-paying jobs over the next five years and invest more than $19.5 million in total capital.

Baxter Aerospace designs, manufactures, and tests systems that protect lives, enable global connectivity, and drive clean energy innovation. By leveraging its unmanned vertical takeoff and landing (VTOL) aircraft, Baxter has developed aerial firefighting systems that autonomously combat wildfires. It has also built satellite communications equipment that helps ensure secure, uninterrupted connectivity for military, government, and commercial applications.

Learn more about this company and the incentive it earned in our newsroom: https://business.utah.gov/tax-credits/baxter-aerospace-inc-expands-manufacturing-in-st-george/

09/29/2026

Utah is leading in energy — and that leadership plays a big role in how businesses grow here.

Last week, GOED Commissioner Moss joined energy partners, industry leaders, and policymakers in Vernal for the Basin Energy Summit, an annual gathering focused on education, collaboration, and new opportunities for the Uintah Basin.

There, Moss shared the advantages of doing business in Utah and highlighted the state’s growing position as an energy innovator and exporter.

We know capacity and grid reliability are key considerations for companies choosing where to build, particularly in industries like advanced manufacturing and aerospace and defense, and we’re working to make it happen here.

In rural Utah, energy production supports high-paying jobs and local tax revenue, alongside the state’s long history of environmental stewardship and access to public lands, which helps these businesses attract and retain the people needed to fill these important roles.

Energy is not just an industry in Utah — it’s part of the foundation for our future.

09/28/2026

Earlier this month, GOED’s Utah Small Business Credit Initiative (USBCI) joined the 2026 Utah Risk Management Summit as a key sponsor and contributor.

The summit brought Utah’s financial leaders together to address credit risks, regulatory developments, and economic strategies to support commercial growth.

During the summit, USBCI Director Paul Jolley shared the initiative’s mission to expand credit availability for small businesses statewide — highlighting how its capital deployment programs partner directly with financial institutions to make commercial lending more accessible.

Learn more about USBCI and the summit here: https://business.utah.gov/usbci/usbci-programs-at-the-2026-utah-risk-management-summit/

The Utah Small Business Credit Initiative (USBCI) took center stage as a key sponsor and contributor at the 2026 Utah Risk Management Summit, hosted on September 15 by the ProSight RMA Mountain States Chapter at the Zions Technology Center in Midvale. Under the theme “Stronger Today. Safer Tomorro...

09/24/2026

Encouraging investment in Utah.

After receiving recommendations from GOED, Gov. Spencer J. Cox has recommended 37 census tracts for designation as Federal Opportunity Zones. These zones will help drive economic growth and job creation in eligible communities across Utah.

The Federal government identified 147 potential opportunity zones in Utah, and 25% of those may be recommended back to the federal government for designation. GOED worked to uphold the preferences and priorities of local voices throughout the evaluation process, which was grounded in both qualitative and quantitative rigor.

U.S. Department of the Treasury will certify the tracts this December.

Learn more: https://business.utah.gov/news/utah-recommends-37-census-tracts-for-opportunity-zone-designation/

09/10/2026

Today, as part of its EDTIF and REDTIF programs, GOED awarded five companies a post-performance tax reduction to aid their upcoming expansions within Utah.

A1 Lithium is a company engaged in the exploration and development of critical minerals with the aim of supplying high-purity lithium carbonate for EVs and energy storage by employing environmentally friendly extraction methods.

Gauss Management Research and Engineering is a veteran-owned defense engineering and systems integration company that focuses on Modular Expandable Laboratory Systems, custom installation kits, and wire harnesses.

KIHOMAC is a veteran-owned aerospace and defense company that provides engineering, advanced manufacturing, reverse engineering, sustainment, and lifecycle support solutions across the aerospace and defense sectors.

Moog is a multinational that designs and manufactures high-performance technologies for aerospace, defense, industrial, and healthcare sectors — specializing in precision motion and fluid control systems for flight control and satellite components, and automated machinery.

Rise Baking Company is a leading manufacturer that serves in-store bakery and foodservice customers. With a focus on quality, innovation, and customer partnership, Rise offers a diverse product portfolio across 13 categories, including cookies, cakes, muffins, and pies.

Learn more about these companies and the incentives they earned in our newsroom: https://business.utah.gov/category/tax-credits/

09/01/2026

Help us identify the best examples of companies implementing pro-human AI in .

We’re working with the Utah Department of Commerce and The Nucleus Institute to launch the Pro-Human AI Elevation Awards — honoring Utah-connected companies across all industries whose products and actions align with the state’s AI framework.

Finalists will be invited to the 2026 Utah AI Summit, and nominations must be submitted by Sept. 28.

Learn more about the program: https://prohumanai.utah.gov/elevation-awards/



Utah Business Silicon Slopes

08/27/2026

Furthering the mission of facilitating funding for small businesses.

Our USBCI team recently gathered with partners to address credit gaps and improve access to capital for underserved entrepreneurs.

The roundtable focused primarily on demonstrating how programs like USBCI partner with banks and local Community Development Financial Institutions to blend capital and reduce risk, helping bridge the financing gap for small businesses.

This work holds great importance, as small businesses employ over 40% of Utah’s workers, according to the U.S. Small Business Administration, and contribute significantly to our overall economy.

Participants shared other insights, including strategies for navigating CRA compliance, leveraging technical assistance, and catalyzing private capital.

Read more on our newsroom: https://business.utah.gov/usbci/usbci-joins-partners-to-strengthen-utahs-small-business-credit-continuum/

On Thursday, July 16, financial institutions, Community Development Financial Institutions (CDFIs), and non-profit economic development leaders gathered at the Miller Free Enterprise Center at SLCC’s Sandy Campus to discuss issues facing small businesses. The meet, titled “Utah Banker CRA Roundt...

08/21/2026

More innovation happening in Utah!

The University of Utah’s new AI supercomputer, Redtail, has gone online and is a top-five university computational asset in the nation.

Built through a strong public-philanthropic partnership, Redtail will help Utah advance AI development and research to solve our most pressing problems in alignment with Utah’s Pro-Human AI framework.

Intended for researchers, students, entrepreneurs, and state agencies, Redtail will be a powerful asset for Utah — accelerating innovation in key industries and helping our state realize the potential of AI-enabled problem-solving.

Learn more: https://www.sltrib.com/news/2026/08/19/university-utahs-new-redtail-ai/



The Salt Lake Tribune

Called “Redtail,” the new supercomputer is already ranked among the fastest in the world.

08/20/2026

Rewarding times in Argentina!

As reported by Deseret News, Utah’s trade delegation visit has wrapped up, and our delegation is bringing home new partnerships and valuable insights on two pressing topics in particular: critical minerals and the Great Salt Lake.

Argentina and Utah share many goals and challenges. By working together, we can strengthen our mineral processing capabilities to support economic and security goals, and collaborate with experts and universities to identify potential solutions for our lake and its South American sibling, Laguna Mar Chiquita.

Read more: https://www.deseret.com/utah/2026/08/19/utah-trade-mission-to-argentina-critical-minerals-saline-lakes/