In The News
Economic Development Headlines from the Past Week
Utah #4 in Nation for Economic Freedom
-
The Pacific Research Institute ranks Utah #4 in economic freedom.
South Dakota ranked #1, followed by Idaho, Colorado, and then Utah.
New York ranked last. Read the
report here. View the rankings
map here.
Building a warehouse? Salt Lake-Provo is among best bets
-
The Salt Lake City-Provo area is one of the nation's best for building
a western U.S. distribution center, according to a study by a New
Jersey-based corporate site selection firm. The Boyd Company says
Utah's pro-business environment makes it a prime site for companies
looking to warehouse goods. Based on a hypothetical
500,000-square-foot facility employing 225 workers, the company
estimates it would cost about $15.7 million a year to operate a
distribution center here. (Daily
Herald) (The
Spectrum)
Utah supports regional cap and trade plan
-
The State of Utah joins other western states and Canadian provinces in
unveiling a plan today for a market-based cap-and-trade program as a
major tool to meet a regional goal of reducing greenhouse gas
emissions.
(Utah
Business Magazine--regisgtration required)
Utah banks solid amid cash crisis
- Despite
the crisis facing the nation's financial industry, Utah's banks
generally are sound, experts say, though the balance sheets of a few
are fraying. Granted, in today's turbulent environment there are no
guarantees, but three ratings services say only a handful of the 70
institutions in Utah are struggling, with the rest carrying on with
business as usual. (SL
Tribune)
Barnes Aerospace now at Business Depot Ogden
- For
Barnes Aerospace, relocating to a new, state-of-the-art manufacturing
facility at Business Depot Ogden is a process measured in months
rather than days.
Fourteen months after the first shovel turned dirt at 1025 Depot
Drive, Barnes is up and running in 120,000 square feet of a
165,000-square-foot building. (Standard
Examiner)
(Morning
News)
New projects seem incompatible with stressed economy
- The
Snyderville Basin Planning Commission has been getting an extreme
workout this month. In quick succession commissioners were presented
with two separate applications for projects that, taken individually,
would have enormous impacts on Summit County.
(Park
Record)
Pleasant View gets rail service
- The Utah
Transit Authority is beginning FrontRunner service to Pleasant View in
Weber County, with full service expected in January.
Train service to the Pleasant View station, at 2700 North and U.S. 89,
begins Monday. On Saturday, the public can hop on a train for a free
inaugural ride between Ogden and Pleasant View. (Morning
News)
Convention bureau setting lofty goals to boost tourism
- The Salt
Lake Convention & Visitors Bureau has set some lofty goals for 2009,
and one involves impressing an influential crowd coming to town next
summer. About 4,000 people will visit July 11-14 for the Meeting
Professionals International 2009 World Education Congress, a gathering
of people responsible for booking more than $14 billion in annual
meetings. (Morning
News)
Ski resorts fare well in rankings
- Utah's
ski industry is basking in the results of the latest annual ski
magazine reader surveys. For the second year in a row - and fourth
time in eight years--Deer Valley Resort was deemed the best in North
America by the older, more well-heeled readers of Ski magazine. Its
readers also listed Park City Mountain Resort at No. 5 and had seven
Utah resorts in the Top 30. (SL
Tribune)
Economic summit
- In the
coming year, Utah State University will "buoy" Cache County's job
growth, keeping the area "somewhat insulated" from the national
employment downturn. That's the prediction of Utah Department of
Workforce Services economist John Mathews, who spoke Thursday at the
annual "What's Goin' Down Up North" business summit. (Herald
Journal)
Modern design unveiled for Lehi's The Point
- It's
been at least 30 years since world-renowned architect Frank Gehry
visited southeast Utah's Arches National Park. Still, memories of that
trip--and of the otherworldly shapes of the landforms there--inspired the design for the much-anticipated Point of the Mountain
development in this Utah County community. (SL
Tribune)
Slowdown continues to impact county
- With job growth stifled and unemployment reaching a four-year high,
experts said Washington County is one of many affected by a nationwide
economic recession. (The
Spectrum)
Department of Commerce warns Utahns to protect selves
- The Utah
Department of Commerce warns Utahns to be on the lookout for scams
during these times of economic upheaval. Executive Director Francine
Giani announced Tuesday that residents can go to the Division of
Securities or the Division of Real Estate within the Department of
Commerce to see if an investment or real estate deal is legitimate.
(Morning
News)
Budget Shortfall is $272 Million
- (KCPW
News) Utah's budget outlook is worse than projected, according to
figures crunched in a special meeting convened by Governor Jon
Huntsman yesterday. Huntsman's spokeswoman Lisa Roskelley says this
means state agencies might be asked to trim their budgets more
significantly than the governor's recommended 2 percent cut.
(KCPW)
(SL
Tribune)
University of Utah seeks to raise $1 billion in eight years
-
Administrators are already halfway toward the goal after three years
of the campaign's "quiet" portion, which netted several blockbuster
gifts, such as the Sorenson Legacy Foundation's $12 million donation
to build an arts-education program and Rio Tinto's $15 million toward
the new home for the Utah Museum of Natural History. (SL
Tribune)
Feds grant $20 million to buy, refurbish foreclosed homes
-
The federal government offered Utah a $19.6 million injection of cash
on Friday to buy and restore foreclosed properties across the state.
It's part of the Department of Housing and Urban Development's $4
billion Neighborhood Stabilization Program, intended to address a
rising number of properties that "might otherwise become sources of
abandonment and blight within their communities." (Daily
Herald)
Utah military installments get lift from Congress
-
The Senate passed and sent to President Bush on Saturday a stop-gap
funding bill that included more than $130 million for Utah defense
bases and contractors. That massive bill funds most government
agencies through March at this year's spending levels because Congress
did not pass most of the 13 separate appropriations bills it considers
each year. (Morning News
here and
here)
Utah's largest wind farm to produce power for S. California, cash
for Milford
- A $400
million renewable energy project could begin construction next month
and would power roughly a quarter-million Southern California homes.
The plan has received no criticism during a public-input phase that
ends Oct. 6. (SL
Tribune)
House ends ban on oil shale, offshore drilling
-
The House, responding to growing public demand for more domestic
energy, voted Wednesday to end a quarter-century ban on oil and
natural gas drilling off the Pacific and Atlantic coasts--and a more
recent ban on developing oil shale in Utah, Wyoming and Colorado. (Morning
News)
Utah's high-tech exports growing
-
Utah's technology-related exports grew at the second-fastest rate
among states from 2006 to 2007, according to a report released
Tuesday.
The nonprofit trade association AeA, formerly the American Electronics
Association, said Utah tech exports grew $339 million last year,
boosted by a more-than-triple jump in exports of semiconductors. (Morning
News)
Activist: Mexican economic development part of immigration
solution
-
Latinos leave their homelands - and heritage - and come to the United
States for many reasons. It's more than just a quest for jobs, says
Raul Lopez-Vargas, a native of Mexico City, who now lives in Salt Lake
City. (Salt
Lake Tribune)
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
Learn sell to the government and the military
Nationally recognized speakers, training sessions and exhibits. Runs
from 7:30 a.m. to 3:30 p.m. at the SouthTowne Expo Center,
9575 S. State Street Sandy.
Pre-Registration Cost:
$50/person and $35/guest until Oct. 13
$65/person and $50/guest after Oct. 13
Registation:
www.goed.utah.gov/PTAC
For more information contact Myrna Hill (801) 538-8775 or email
ptac@utah.gov
Oct. 22:
Quarterly Investor Update
Dec. 17: Holiday Open House (EDCUtah)
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