New $5 million oil, gas and mining industry grant program announced
To help support Utah’s energy businesses, the Utah Legislature has set aside $5 million in federal CARES Act funds for a new Oil, Gas and Mining Grant. The program, managed by the Governor’s Office of Economic Development (GOED) in collaboration with the Governor’s Office of Energy Development, began accepting applications last week.
Companies in the oil, gas and mining industries that have incurred expenses due to the public health emergency related to COVID-19 are eligible to participate in the new grant program.
“This is a unique grant that, working with the Governor’s Office of Energy Development, we’re excited to provide to businesses in the important oil, gas and mining industries,” said Val Hale, GOED’s executive director. “COVID-19 has brought challenges to many industries in our state, and we’re grateful the Legislature allocated federal CARES Act funds for this new grant program.”
To be eligible for the OGM Grant, businesses must be substantially involved in the extraction of oil, gas or minerals in Utah or directly provide services to oil, gas or mining businesses in Utah and have experienced Utah revenue decline related to COVID-19. Eligible companies must have fewer than 250 full-time equivalent Utah employees physically located in Utah. Firms must establish that the use of funds will benefit the Utah state economy.
To learn more about business eligibility, required documents and additional program details and to submit applications, companies can visit utahgoed.info/ogmgrant.