Park City councilmembers will discuss whether to bring back an economic development grant program Thursday.
The grant was offered from 2006 to 2022 to help small businesses start, relocate, retain staff or expand in ways to support city priorities. Park City Manager Adam Lenhard said the 16 grantees were awarded between $7,000 and $30,000.
Now, the city is evaluating whether to revive the program, and if so, what it should look like.
“There are a lot of headwinds for our local companies, whether it's tariffs or increased fuel costs,” Lenhard said on KPCW’s “Local News Hour” Oct. 7. “So the council is saying, ‘How can we better support those local businesses? How can we make sure that they stay competitive, that they're able to continue operating?’”
City staff had conversations with the Park City Chamber of Commerce, Historic Park City Alliance, Park City Area Lodging Association and Prospector Square leaders. Lenhard said the groups identified several needs, including help attracting customers and reducing barriers to operating and expanding.
He said one option is to restore the previous grant program.
The council could also modify it to help local businesses prepare for the 2034 Winter Games.
"It could be, you know, less on general startup subsidies and more on helping those businesses achieve operational capacity, compliance, making capital upgrades, so that when the Games get here, those local operators are successful,” Lenhard said.
Another option would create temporary assistance for businesses affected by major construction projects or economic downturns.
The council previously raised concerns about equity and fairness when awarding public funding to private businesses. Staff said the city could instead offer a program with shared professional services and mentorship.
The council meets Thursday at 4 p.m. in City Hall.
Park City Municipal is a financial supporter of KPCW.
