|Program||# of Grants||EDA Funds|
|Assistance to Coal Communities||1||$800,000|
|Economic Adjustment Assistance||1||$75,000|
Price, UT - Coal is the most abundant natural resource in Carbon and Emery Counties, with seven active mines still in operation today. The royalties each county receives from the county-owned leasing rights is critical to the economic stability of both counties. The fragile dependency on energy is greatly impacted by plant closures and drops in coal production that not only affect county royalty revenues, but also impacts all aspects of the counties’ economies and employment. New employment opportunities are needed to prevent further deterioration to the region’s economic condition.
In September 2017, EDA invested $800,000 in Assistance to Coal Communities funds to FutureINDesign to support the start-up and operating costs for The Innovation and Opportunity Center in Price, Utah. An international product sourcing business has expressed interest in moving 200 light manufacturing jobs currently located in Asia to the U. S. if training and housing were available in the region. To accommodate the move and attract additional businesses to the region, developing a skilled labor force is needed to provide job opportunities for the local economy that currently relies on coal, gas, and oil for its economic survival. FutureINDesign will oversee the operation of the facility, housed in the historic JC Penney building on main street, and promote the center to attract employers by offering office spaces, employer-led training, and light manufacturing workspaces.
The center will provide access to technology and a newly trained workforce with specialized skills to local businesses. The center will be a highly competitive solution for corporations struggling to find adequate workforce talent or looking for viable options to return work, production, and jobs to the U.S.