Utah Manufacturing Modernization grant FY24

The $10-million Utah Manufacturing Modernization grant incentivizes Utah businesses to modernize, establish, relocate, retain, or develop manufacturing in the state. Its goal is to modernize manufacturing, increase supply chain resilience, and decrease American dependence on foreign manufacturing in Utah.

Utah Manufacturing Modernization grant FY24

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Businesses interested in applying for a manufacturing modernization grant must:

  • Be registered with the Utah Division of Corporations.
  • Have a physical location in the state. 
  • Propose a project that will establish, relocate, retain, or develop the manufacturing industry in the state.
  • Demonstrate their ability to partially fund the project with existing or external funding sources. 

Of the companies that meet these qualifications, preference is given to Utah businesses that:

  • Align with one or more of Utah’s five targeted industries: Advanced Manufacturing, Aerospace and Defense (which include composite materials), and Fianance, Life Sciences and Healthcare, Software and Information Technology)
  • Have not yet started the proposed project, are in the planning phases of expansion, or are entering into a new phase of the project.
  • Demonstrate a higher cost match with existing or planned sources of funding.
  • Identify clear metrics of success.
  • Have fewer than 250 full-time employees.

Funding limits are anticipated to be set to $750,000. Requests that exceed that amount will be considered, however, prospective grantees may be asked to amend the requested amount and scope of work to abide by the award ceiling set by the office. Final award amounts are made at the discretion of the Governor’s Office of Economic Opportunity.

The application portal opens June 30, 2023 at 9 a.m. MDT and closes on July 13, 2023 at 5 p.m. MDT OR until applications exceed anticipated funding levels by an amount set by the office. 

They anticipate a high volume of applications and encourage applying as early as possible. If the application portal closes before July 13, 2023, all applicants in draft status will be notified and given until 5 p.m. the following business day to submit applications.

More information www.utah.gov