Agency: Economic Development Function The role of the Governor's Office of Economic Development is to facilitate the growth of quality jobs, promote Utah business, and develop economic prosperity for Utah by increasing the net tax revenue to the State. Statutory Authority Statutory authority for the Governor's Office of Economic Development is provided in UCA 63M-1. GOED shall: - Be the industrial promotion authority of the state;
- Promote and encourage the economic, commercial, financial, industrial, agricultural, and civic welfare of the state;
- Create, develop, attract, and retain business, industry, and commerce within the state; and
- Enhance the economy of the state.
Funding Detail Funding detail for the office is included in the table below. | Sources of Finance | 2006
Actual | 2007
Actual | 2008
Actual | 2009
Actual | 2010
Approp | | General Fund | $13,669,100 | $14,714,800 | $15,224,800 | $13,420,600 | $12,954,000 | | General Fund, One-time | $764,900 | $757,600 | $6,065,000 | $4,683,700 | $5,588,500 | | Transportation Fund | $118,000 | $118,000 | $118,000 | $118,000 | $118,000 | | Federal Funds | $300,000 | $300,000 | $300,000 | $300,000 | $300,000 | | Dedicated Credits Revenue | $285,700 | $111,100 | $159,500 | $96,000 | $243,500 | | GFR - Business Development for Disadvantaged Rural Communities Account | $250,000 | $0 | $0 | $0 | $0 | | GFR - Industrial Assistance | $223,500 | $1,736,500 | $223,500 | $223,500 | $223,500 | | GFR - Motion Picture Incentive Fund | $1,000,000 | $1,000,000 | $4,000,000 | $3,831,300 | $2,206,300 | | GFR - Tourism Marketing Performance | $10,000,000 | $11,000,000 | $11,000,000 | $10,888,000 | $7,000,000 | | Beginning Nonlapsing | $9,604,600 | $11,593,100 | $5,502,200 | $9,248,000 | $250,000 | | Closing Nonlapsing | ($6,052,100) | ($6,193,400) | ($7,556,800) | ($7,562,200) | $0 | | Lapsing Balance | $0 | $0 | ($204,400) | ($675,700) | $0 | | Total | $30,163,700 | $35,137,700 | $34,831,800 | $34,571,200 | $28,883,800 |
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| | Line Items | 2006
Actual | 2007
Actual | 2008
Actual | 2009
Actual | 2010
Approp | | Administration | $0 | $3,040,400 | $3,354,000 | $4,017,400 | $3,337,400 | | Office of Tourism | $0 | $20,383,300 | $18,075,100 | $20,680,900 | $13,539,400 | | Business Development | $239,900 | $11,564,000 | $10,081,000 | $9,566,800 | $11,809,400 | | Incentive Funds | $283,100 | $150,000 | $3,321,700 | $306,100 | $197,600 | | Business and Travel Development | $29,640,700 | $0 | $0 | $0 | $0 | | Total | $30,163,700 | $35,137,700 | $34,831,800 | $34,571,200 | $28,883,800 |
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| | Categories of Expenditure | 2006
Actual | 2007
Actual | 2008
Actual | 2009
Actual | 2010
Approp | | Personnel Services | $5,144,300 | $5,316,600 | $5,658,800 | $6,027,300 | $6,124,900 | | In-state Travel | $100,000 | $93,600 | $113,700 | $102,700 | $78,400 | | Out-of-state Travel | $184,200 | $233,900 | $259,400 | $184,700 | $133,300 | | Current Expense | $3,258,000 | $3,701,000 | $11,514,700 | $9,743,300 | $3,622,600 | | DP Current Expense | $550,100 | $360,900 | $330,600 | $364,500 | $362,100 | | DP Capital Outlay | $0 | $10,900 | $0 | $0 | ($150,000) | | Capital Outlay | $0 | $16,600 | $12,500 | $0 | $12,500 | | Other Charges/Pass Thru | $20,927,100 | $25,404,200 | $16,942,100 | $18,148,700 | $18,700,000 | | Total | $30,163,700 | $35,137,700 | $34,831,800 | $34,571,200 | $28,883,800 |
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| | Other Indicators | 2006
Actual | 2007
Actual | 2008
Actual | 2009
Actual | 2010
Approp | | Budgeted FTE | 60.0 | 61.0 | 66.5 | 64.0 | 65.5 | | Vehicles | 3 | 6 | 6 | 6 | 6 |
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Subcommittee Table of Contents |