Sept. 23, 2008

  A Publication of the Economic Development Corporation of Utah
CEO Jeff Edwards

President's Message

Murray City Weathering the Economic Storm
               Just Fine


In these shaky economic times, it is easy to focus on the negative reports that dominate the headlines. Despite the difficult economic situation nationally, Utah stands out for its many positive economic developments. Take, for example, Murray City and Intermountain Healthcare, which have created an economic engine to be envied by communities across the nation. Former Mayor Lynn Pett says the Intermountain Medical Center, located at the site of the old smokestacks in Murray, has created thousands of jobs and fostered a massive economic influx into the community.

Murray Mayor Dan Snarr adds that the Intermountain Medical Center is Murray's “number one economic driver,” not only for its massive investment into the community but also for cleaning up what was once a blighted, challenging eyesore. The Intermountain Medical Center has succeeded beyond anyone's wildest dreams and Murray is fortunate to have such an excellent anchor in the community, which creates jobs, brings people together and is the catalyst for great things to come.

As with Murray City, EDCUtah is dedicated to helping all of its community partners achieve their economic development goals and objectives. In this process, we work closely with many economic developers. Several organizations have relatively new economic development leadership, including Tim Tingey at Murray City, Bob Farrington, at Salt Lake City, and Garth Day, at Morgan County. Our feature story in this newsletter introduces these new faces in economic development and highlights their backgrounds and experience.

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

Jeff Edwards
President and CEO


Feature

New Faces in Economic Development


Economic development is a fluid effort and occasionally the names and faces of economic developers with whom we serve change. This week we'd like to spotlight three leaders that, while not necessarily new to Utah, are serving in new roles in economic development.

Tim Tingey, Murray City's Community and Economic Development Director

Tim Tingey, economic development director for Murray CityTim Tingey took over as director of community and economic development at Murray City three months ago and he's been going non-stop since day one.

“We have a lot of great opportunities in economic development going on, especially with the construction and opening of Intermountain Health Care's Intermountain Medical Center,” he says.

He came to Murray City after working 11 years for the City of Pocatello, Idaho, where he was a manager over neighborhood and community services. In that capacity, he was involved in community development, urban renewal and economic development. A native of Carey, Idaho (near Sun Valley), he obtained a bachelor's degree in business from Utah State University. He holds a masters degree and doctorate in public administration and political science from Idaho State University. For the past three years, he has served as an adjunct professor at Idaho State.

Tingey says IHC's new Intermountain Medical Center is a powerful anchor and has given the Murray City an opportunity to focus on clustering opportunities there, along with promoting redevelopment, business retention and expansion and mixed use—especially adjacent to the TRAX line. Murray enjoys three TRAX stops within its city limits, which present great opportunities for mixed use and redevelopment nearby. The Fireclay redevelopment project is an example of the city's mixed use, transit-related developments near TRAX.

Revitalization of historic downtown Murray is also an area of focus. Tingey says the city is currently involved in developing a master plan to manage the redevelopment effort there. The plan will consider available land, projected growth and business retention over the next few years.

Bob Farrington, Salt Lake City's Economic Development Director

Bob Farrington, director of economic development for Salt Lake City“My first few months have been a rocket start,” says Bob Farrington of his move in June from the Downtown Alliance, where he served as executive director for 16 years, to become director of economic development for Salt Lake City Mayor Ralph Becker.

Since day one Farrington has been working through a backlog of projects and initiatives and just now feels like he is able to be proactive in his new position.

“There is a lot of interest and economic development activity going on in Salt Lake City and I am pleased to help drive the agenda,” he says.

Farrington guided the Downtown Alliance from its inception through 16 years of phenomenal growth for the capital city, during which he was heavily involved in the 2002 Olympic Winter Games, the implementation of First Night Salt Lake – the city's New Year's Eve celebration, the introduction of TRAX light rail and the current resurgence of investment in the city core. He is well-equipped to take on Salt Lake's many economic development projects.

A native of New Orleans, Farrington attended graduate school at the University of Texas San Antonio, where he obtained a master's degree in urban planning. He worked for 15 years in San Antonio before coming to Utah, serving five years as the economic development director for the San Antonio Chamber of Commerce, five years with the San Antonio Downtown Alliance, and five years with a planning and project management company there.

Garth Day, Morgan County Economic Development Director

Garth Day, director of economic development for Morgan County Garth Day, who in July took on a newly created position as economic development director at Morgan County, is also a seasoned economic development veteran.

Having lead economic development efforts in Box Elder County for the last 10 years, Day served an integral in role in the location and development of an agribusiness and industrial park, which is now sold out and full, the location of Nucor Steel's new plant in Brigham City and economic development efforts involving Malt-O-Meal, West Liberty Foods and Tarter Gates.

Day describes his new role as Morgan County's first shot at being aggressive in the economic development front. The county has lots of potential for both economic development and retail, he says. Among the efforts on his agenda, Day will be busy helping to develop an entrepreneurial center in which the county is partnering with the Davis Applied Technology Center and the State of Utah, and planning for development of a light industrial park.

“I've had a wonderful experience working with EDCUtah, especially in its support of rural communities, and hope can continue that relationship at Morgan County,” he says.

An Ogden native, Day holds a bachelor's degree in political science and urban planning from Weber State University. Before joining Box Elder County, he worked in economic development for Pleasant View City and Perry City.

 

In The News

Economic Development Headlines from the Past Week

Ogden a good deal for firms

- Utah, in its efforts to attract quality jobs, is offering tax-credit incentives to firms to do business here. As the Standard-Examiner's Jeff DeMoss reports, The Business and Economic Development Board in the Governor's Office of Economic Development is offering $4.7 million worth of incentives to lure two firms to Utah and make sure a third stays in Ogden. (Standard-Examiner)

Roll 'em! State wants to boost film incentives

- Trying to get legislative approval to strengthen Utah's film-production industry, state officials on Wednesday released figures indicating the industry produces a blockbuster economic impact. (Deseret News here and here) (Daily Herald)

Autoliv operations consolidating in Ogden

- Autoliv North America said Friday that it plans to close a facility in Indiana and consolidate the company's vehicle air-bag assembly operations at an Ogden plant. The closure of the facility in Columbia City, Ind., will affect 380 workers there. The company will begin moving production lines to Ogden as soon as November, and plans to complete the transition by late fall 2009. (Morning News)

APX Alarm Security Solutions Inc. increases credit facility to $215 million

- APX Security Solutions Inc., one of the nation's largest residential security alarm companies, announced that it has completed a new $215 million credit facility. The credit facility will provide a funding source to help fuel the growth the company has had over the last few years. (Utah Business Magazine)

Utah's economic ups, downs: Job growth slows, gas prices fall

- Utah released its worst jobs report in five years Tuesday, but an upbeat inflation report provided some hope to consumers battered by a sliding economy. (SL Tribune) (Morning News)

Renovation of Trolley Square's main building should be done by November

- Modernization of the main building of the Trolley Square shopping mall, part of a $60 million expansion project at the Salt Lake City retail complex, should be finished about Nov. 1, in time for the start of the holiday shopping season. (SL Tribune)

FDIC asked Zions to bid on failed Silver State Bank

- Zions Bancorp's acquisition of the deposits of failed Silver State Bank in Nevada earlier this month should assure customers of the Salt Lake City banking company that their deposits are safe, a spokesman said Wednesday. "The Federal Deposit Insurance Corporation asked us to bid on that bank. If we were a bank that the FDIC was concerned about, they wouldn't be asking us to bid on a failed bank," Zions spokesman Rob Brough said. (SL Tribune)

Cedar City named 'outdoorsy'

- Based on its status as the gateway to national parks throughout Southern Utah, as well as its mild climate and various cultural opportunities, Cedar City has been named as one of the top 10 best "outdoorsy" places to retire by U.S. News & World Report. (The Spectrum)

Mountain bikers take to the air starting today at The Canyons

- The state's growing involvement with action sports continues this weekend with mountain bikers taking up where motocross and skateboard athletes left off. On the heels of last weekend's AST Dew Tour, which attracted record crowds to downtown Salt Lake City to see the exploits of high-flying bikers and boarders, the Jeep 48Straight mountain bike racing tour came to The Canyons Resort outside of Park City Friday and Saturday. (SL Tribune)

Retail project ready to open

- Although the economy is slow right now, St. George Mayor Dan McArthur has been to several ribbon-cuttings in the last few days. "We're glad to have these new projects," McArthur told those attending the ribbon-cutting for Dixie Commons on Thursday. (The Spectrum)

Utah transport planners create project wish list

- It will cost billions, but Utah transportation officials have mapped out a web of future roads to improve east-west access in the Salt Lake Valley and upgrade travel in high-growth areas statewide. Of course, they still need to find a way to pay for their vision… (SL Tribune)

20 influential Hispanic business leaders

- For the second year, Business Connect, together with the Utah Hispanic Chamber of Commerce (UHCC), recognizes 20 prominent Hispanic business leaders. A panel of businesspeople from within the community selected the 20, and the UHCC oversaw the process. (Connect Magazine)

Business Insight: Surviving a downturn

- What's your best advice during these tough times? Consult your bank about your business's financial status. Lenders have valuable experience with economic cycles and they can advise you on issues specific to your industry. (SL Tribune)

UDOT to hold hearing on expressway plan

- The Utah Department of Transportation will hold a hearing at 5 p.m. on Thursday in the cafeteria of Building 10 in the IM Flash Technologies building, 1550 E. 35 North, to take comment on a $130 million limited access expressway for state Route 92 east of I-15. (Deseret News)
 


CALENDAR

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.
Sept. 30: Utah Chapter NAIOP Survivor 2008 Bus Tour
Oct. 9-12: CoreNet (Orlando)
Oct. 21: 3rd Annual Procurement Symposium
Oct. 22: Quarterly Update
Dec. 17: Holiday Open House (EDCUtah)


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