63N-3-112. Talent development grants.

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A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Effective 5/6/2026

(1)A for-profit business that is creating new incremental high paying jobs in the state, may apply to receive a talent development grant from the restricted account.

(2)In accordance with the provisions of this section and in consultation with the GOED board, the administrator may award up to $10,000 per new job created.

(3)The administrator shall designate an application process for a business to apply for the grant.

(4)A business may apply to receive a grant only after each employee has been employed at qualifying wage levels for at least 12 consecutive months.

(5)The office shall deduct money granted for a talent development grant under this section from any other money or incentive awarded by the office to the business.

(6)Grants awarded under this section are only to reimburse a business for the costs incurred to recruit, hire, train, and otherwise employ an employee in a newly created job.

(7)As part of the application process, a business shall submit a hiring and training plan detailing how the grant money will be used.

(8)The administrator may grant an award only up to an amount that is no more than 25% of the estimated costs to be incurred by the business for the costs in the hiring and training plan.

Amended by Chapter 343 , 2026 General Session