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SALT LAKE CITY — The live events industry has been one of the hardest hit by the COVID-19 pandemic. With physical distancing requirements and a cautious public, venues have had to either slash capacity or shut their doors altogether.
On Friday, the Utah Governor's Office of Economic Development announced that $3 million has been set aside for the COVID-19 Live Events Grant. The grant is available to qualifying businesses in the live events industry — like sports and performing arts organizations — that have lost revenue due to emergency coronavirus protocols.
"When we heard about this new grant, we knew Utah's live events industry, which has struggled during the pandemic, would be grateful for the financial support," said GOED executive director Val Hale in a news release. "Live events are an important part of Utah's culture, and we hope this grant will help many of these businesses."
Award amounts will be based on the amount of revenue decline. Businesses that can demonstrate revenue decline of 50% or more will be awarded 75% of revenue decline or $150,000, whichever is less. Decline between 25% and 50% will get a business the lesser of 50% of revenue decline or $100,000; and for impacts under 25%, it's 25% or $50,000.
Businesses must have fewer than 250 full-time employees and spend the money by Dec. 30, among other requirements.
The grant money will be awarded on a first-come, first-served basis until the $3 million is gone, GOED said. Applications open at 9 a.m. MT on Dec. 15 and close on Dec. 17 at noon.
Companies that haven't already participated in a GOED coronavirus grant program can set up an account at utahgoed.info/login.
"Creating an account before applications are due will enable businesses to submit applications as soon as the program opens," GOED wrote in a statement. "If companies wait to create an account, they may experience a 24-hour delay before they can apply."
More information on eligibility and required documentation is available at business.utah.gov/utah-covid-19-live-events-grant. Questions about the grant can be directed to goedsupport@utah.gov.
