Economic Review -- Economic Development News from EDCUtah

Utah Receives an 'A' for Worker Freedom

Last week the Washington D.C.-based Alliance for Worker Freedom (AWF) gave Utah an “A” for worker freedom. The Beehive State was the only state to receive such a grade. The AWF studied and compared each state by measuring the level of worker freedom and analyzing state policy and quantitative data. The grade was based on ten variables: right to work, minimum wage, union density, paycheck protection, prevailing wage, defined contribution pension, collective bargaining rights, public sector union membership, entrepreneurial activity, and workers compensation. One more accolade for our great state!

On another subject, the Utah State Advisory Council on Science and Technology is seeking nominations for the 2008 annual Governor's Medal for Science and Technology Awards. Governor Jon Huntsman awards the medal in recognition of those who have provided distinguished service to the state in science and technology. This is an important award and we encourage our investors and partners to participate, where possible. The nomination deadline is 5 p.m. on Friday, August 22. Click here to download more information regarding the award.

Our feature story this week highlights the agreement signed between UTA and Salt Lake City, which fast-tracks development of the transit line between downtown and the international airport and enhances economic development on the city’s west side. This is an exciting development and we applaud all who have been involved in the process.

Today's Economic Review also includes links to many of the ED-related news stories from the past week. As always, if you have comments, suggestions or topics you'd like to see in the Economic Review, please contact us by clicking the “Comments” button on the bottom of this page. Enjoy!

Jeff Edwards
President and CEO

New TRAX Line to Salt Lake International Airport a Boon to Economic Development on City’s West Side

During a ceremony in June, Salt Lake City Mayor Ralph Becker and Utah Transit Authority (UTA) assistant general manager Mike Allegra signed an agreement for a new transit line to run along 400 West to North Temple and then west to the Salt Lake International Airport.

The new line will make for quick, convenient travel between the airport terminals and downtown Salt Lake City. Originally designed to handle 12 million passengers a year, in 2005 the airport had 22 million passengers, so the new transit line is an important option to reduce congestion for the increasing number of airport patrons as well as the approximately 75,000 people who work on the west side of the city.

Salt Lake City and UTA are planning the North Temple Line as a “demonstration project” for responsible energy use and sustainable development. As part of the agreement, UTA will work with the city to explore the use of renewable energy sources to power the six new light-rail stations along the line.

UTA expects to begin construction on the 10-mile, $300 million project by year’s end and estimates it will take four years to complete. Nonetheless, the “North Temple Line” of TRAX is being seen as a catalyst for economic development in Salt Lake City’s northwest quadrant. The area has seen a resurgence of reinvestment from companies interested in relocating near the central business district. The strategic location of North Temple between the central business district and the Salt Lake International Airport provides a unique opportunity to revitalize commercial development there.

Neighborworks Salt Lake, a member of Neighborworks America, the national nonprofit organization created by Congress to provide financial support, technical assistance and training for community-based revitalization efforts, has worked closely with officials from Salt Lake City and UTA regarding the route of the North Temple Line and revitalization of the city’s northwest quadrant. None could be more excited about the prospects of economic development in the area.

“We are definitely excited about the new transit route as well as the opportunities it creates for economic development,” says Tham Soekotjo, a neighborhood coordinator for Neighborworks Salt Lake.

He says the revitalization plan for Salt Lake’s northwest quadrant includes mixed use, residential, commercial and cultural developments. Some of the developments currently planned or underway in the area include The Bridges at City Front, a complex of 200 85-unit condos and retail space being built in four phases at 631 W. South Temple; the Kennedy Townhomes, a high-end condominium project on North Temple at 700 West; El Gigante, a big box retail marketplace being built on Redwood Road between North Temple and 200 North; the Northwest Recreation Center being built on Redwood Road by Salt Lake County; and the Trackside Building, a 42,000 square-foot entertainment center being constructed next to the planned transit line at 255 North and 500 West.

Soekotjo says Neighborworks Salt Lake is also excited about the Bridges Over Barriers art project, one of the largest public art projects in Utah, which will decorate the appearance of 16 bridge pillars and abatements with tile mosaics in the area of 300 North and 700 West. The project is being funded through a grant from the Utah Department of Transportation and donations from the Salt Lake Arts Council.

Another exciting revitalization element is Salt Lake Mayor Ralph Becker’s plans to recreate North Temple as a "grand boulevard." The makeover will feature four traffic lanes with the TRAX line running down the center, a refinished viaduct, the addition of two bicycle lanes in each direction and new landscaping features.

CALENDAR

Aug. 6: OIA Thought Leader
Sept. 4: EDCUtah Annual Meeting (Grand America)
Sept. 8: 2nd Annual What's IN OUT Back Economic Summit and Golf Tournament (Zermatt Resort/Homestead Resort & Golf Course)
Sept. 13-17: IAMC (Oklahoma)
Sept. 25: What's Goin' Down Up North - Northern Utah Economic Summit, 9 a.m. - 3 p.m. (Utah State University Innovation Campus, North Logan) Registration form
Oct. 9-12: CoreNet (Orlando)
Oct. 21: 3rd Annual Procurement Symposium
Oct. 22: Quarterly Update
Dec. 17: Holiday Open House (EDCUtah)

In The News

Economic Development Headlines from the Past Week

CNBC Ranks Utah No. 3 Top State for Business

- For the second year in a row, CNBC has ranked Utah the No. 3 Top State for Business, recognizing Utah’s economy, high quality of life and business friendly environment. (Utah Business Magazine) (CNBC) (Standard-Examiner)

Real all-stars: Utah, Sandy

- It may not have the celebrity-charged cachet of an NBA All-Star Game. It's certainly no Winter Olympics. But landing Major League Soccer's 2009 All-Star Game guarantees Sandy and Utah international exposure - try 131 countries - and an influx of millions of dollars and thousands of visitors. (Salt Lake Tribune)

Ogden to host world archery competition

- Ogden has hit another bull's-eye in its efforts to become a hub of adventure recreation and sports. The city will play host next summer to the Youth Archery World Championships, a six-day event that will determine which athletes advance to the inaugural Youth Olympic Games in Singapore in 2010. (Salt Lake Tribune)

County ranked No. 1 for jobs in national magazine

- Money magazine has named Tooele County as the No. 1 county in the nation for job growth as part of its “Best Places to Live 2008” report released last week. (Tooele-Transcript)
(Morning News)

Entrepreneurial Spirit Key to Utah Valley’s Success, Experts say

- Slowing commercial and residential real estate markets, sluggish tourism levels and transportation troubles are some of the issues facing Utah Valley, as well as much of the state. Utah Valley’s business and community leaders discussed these and other issues… (Utah Business Magazine)

Grow Utah Ventures, USU Open Entrepreneur Station

- Cache Valley entrepreneurs with no place to start their businesses are in luck. Grow Utah Ventures has opened an entrepreneur station (eStation), which will provide entrepreneurs office space and mentoring needed to get their businesses up and running. (Utah Business Magazine)

Provo asks business, residents to revive downtown

- Paul Glauser doesn't see the effort to plot downtown Provo's future as the typical planning document. Instead, Glauser, director of Provo's Redevelopment Agency, is working with business people and residents to create a living document that seeks to turn downtown into a vibrant cultural center. (Salt Lake Tribune)

Senate committee OKs funds for Utah

- Senate appropriators voted Thursday to put nearly $100 million on track to expand the FrontRunner and TRAX train systems for Utah commuters. They also approved more than another $100 million for Utah energy and water projects. (Deseret Morning news)

Mayor: Ogden Success Hard to Argue With

- Ogden is gaining national attention as its renaissance continues, transforming from an old railroad town into a potential outdoor recreation mecca. Outside Magazine just ranked the city the third best in the country for its recreation opportunities. (KCPW)

Outdoor rec contest aims to boost Ogden

- Ogden already fashions itself as a mecca for outdoor-recreation companies, and it's looking to enhance that image with a contest believed to be the first of its type. The "Concept to Company" contest features a $20,000 top prize for a product or service idea that applies to outdoor recreation. (Deseret Morning News)

Utah still fertile turf for retail

- Over the past three years, Utah has been on a roll in retail expansion, nabbing its first IKEA furniture store, a Cheesecake Factory restaurant and other high-profile specialty stores, such as clothing chains Urban Outfitters and American Apparel. (Salt Lake Tribune)

People taking notice of Ogden's revitalization effort

- The City of Ogden has been working to change a reputation of crime, gangs and urban decay. Recently, in its list of best cities in America, Outside Magazine ranked Ogden No. 3. Many people visiting downtown Ogden lately may be blown away, literally. There's indoor skydiving, indoor surfing, indoor rock climbing… (KSL)

Hastings to expand in Utah

- An Amarillo, Texas multimedia entertainment superstore chain is looking at eight cities along the Wasatch Front including three in Utah County for its planned expansion. (Daily Herald)

Geeks to converge on Salt Lake for first-ever Gaming Expo

- Gadget geeks will gather this week to game, gab and grow. The first-ever Gaming and Electronics Expo, or GEEX, will take place from 10 a.m. to 8 p.m. Thursday through Saturday at the Salt Palace. Organizers are expecting up to 10,000 attendees to network, participate in tournaments… (Deseret Morning News)

Utah job growth falls below 1%

- Job losses in the residential real-estate industry continue to take their toll on Utah's economy, pushing employment growth last month below the 1 percent mark for the first time in five years. (Salt Lake Tribune) (Morning News)

Utahns trying to ride out the storm of the slow economy

- The Chairman of the Federal Reserve went before Congress warning the economy's slow growth will continue. And inflation was on the agenda as wholesale prices climb at a rate not seen in 27 years. (KSL)

USU, UBATC receive $1.5 million

- Vernal’s Uintah Basin Applied Technology College and Utah State University have received $1.5 million from the Anadarko Petroleum Corporation. The donation was presented at a ceremony in Vernal on Tuesday.
(Herald Journal)

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