On May 29th, 2018 the Salt Lake City Department of Economic Development proposed their budget for fiscal year 2019 to the City Council.

FY18 was a big year, and the department recapped accomplishments and milestones to those in attendance at the meeting. Salt Lake City has seen big growth in capital investment, companies recruited, and jobs created.  The department hired a Workforce Development Manager, Local Business & Entrepreneurship Manager, as well as two Business Development Coordinators to provide more service to Salt Lake City’s business community. $50,000 was secured from the Partners in Preservation grant and the Main Street America districts were established and are now progressing.  The City’s NPS (Net Promoter Score) also showed significant improvement. Enhancements were made to Salt Lake City’s FTZ, providing more assistance to businesses doing international trade.

Department priorities in FY19 will be focused on renewing our approach to the arts, small business development, themed recruitment surrounding sustainability and housing, and Main Street America efforts.

The top funding priorities are:

  • 2019 Site Selectors Guild Convention ($30k)
  • Grants for arts community ($30k)
  • Arts Council division creation ($91k)

Salt Lake City will host the 2019 Site Selectors Guild Convention in March, 2019. This is a great opportunity to showcase Salt Lake City to key economic development decision-makers and what makes us unique. As a major sponsor, SLC officials and staff will have unparalleled time and access to the top 50 site selectors across the country.

As part of the City’s commitment to the arts, a budget request has been made for an increase in grant money. Grants for the Arts Community have not increased since 2011 or kept up with inflation. Funding requests each year are twice the budgeted amount.

Enhancements to streamline the Arts Council Foundation were also proposed. A recommendation has been made to eliminate dual responsibilities of Foundation and City, build capacity to operate independently, and plan for a new Arts division.

“Salt Lake City’s pride, growth, and energy has won us national attention, and this budget is designed to not only enhance what we have accomplished, but continue that growth into next year,” says Deputy Director Ben Kolendar.