Several Carbon County entities, along with officials from Price River Water Improvement District focused on the development of a project proposed to boost the local economy at PRWID's regularly scheduled July 1 meeting.
PRWID gave a verbal commitment Tuesday to help support Carbon County Economic Development director Delynn Fielding's expansion project.
The county, water conservancy district and school district have already committed to support the plan.
Price city has yet to vote on the matter, according to Fielding.
"Price city's vote will either make the deal or break it," said Fielding. "If all agencies commit, the funds will be allocated through the Price Redevelopment Agency to build infrastructure for new businesses."
According to PRWID Boardmember Richard Tatton, there are currently three new businesses that are in the planning stages.
Tatton reported there will be a La Quinta motel, a Hampton Inn and a Wingers restaurant.
The project will give the businesses an incentive by letting them know that Price is willing to help with the start up phase. The agency's commitments will be drafted for a period of five years.
The funds will be used to pay for power, water, sewer and possibly parking lots to help the companies get started.
"Whenever we get new businesses in town they not only provide much needed services but also raise the property value of homes in the area," said Tatton. "Wal- Mart is a good example of what I'm talking about. When the store moved in, the property value in the area went up, ultimately helping all facets of the community."
According to Tatton, Price is in desperate need of hotels due to the gas and oil boom that continues to increase in the area.
"With more hotels in Price we will be able to support larger venues at the new convention center that at the present time would be impossible due to the limited amount of vacancies in our existing hotels," said Tatton. "Sen. Bennett's economic summit has been drawing more and more people from all over the state and without the new hotels, the way its looking we may not be able to accommodate all of the attendees. Large conferences and other big events bring allot of business to Price. We have the advantage of being centrally located in Southeastern Utah so it only makes sense to add more hotels and restaurants to fully take advantage of the situation."
Tatton said the proposal is modeled after similar plans being successfully used in larger cities, including Ogden and Logan.
"I completely support the futuristic view that Fielding has used to create this plan," pointed out Tatton. "If we can get the support of the city then we will be able to utilize the increased property tax to promote development."
Development will raise property values, increasing tourism, creating new jobs and ultimately boosting the local economy from all angles, according to Fielding.