Chamber's Can-Do Coalition applauds decision to extend successful Utah Home Run Grant

SALT LAKE CITY- The Can-Do Coalition applauds Governor Gary Herbert for extending the successful Home Run housing grant. The program will provide incentive for thousands of Utahns to purchase newly constructed homes and benefit the most adversely affected sector the local economy.

The Home Run grant program meets the essential criteria for the effective use of stimulus money: it is targeted, timely and leveraged.

The housing sector led us into the recession and selling existing, new construction inventory will play a significant role in leading us out. Over 18,000 jobs have been lost in the construction industry during the current recession. Providing incentive for home sales puts many workers back on the job.

The first portion of stimulus money was exhausted in just 90 days. The funds available through the extension of the Home Run grant will incentivize buyers to enter the market and deliver timely stimulus to the local economy.

Over 1,600 Utahns took advantage of the Home Run housing grant which leveraged $10 million to generate $376 million in new home sales. The extension of this program will provide an additional 2,000 Utah homebuyers with $8 million of incentives to enter the housing market.