Dec. 6, 2006

 

A Publication of the Economic Development Corporation of Utah

CEO Jeff Edwards

PRESIDENT'S  

MESSAGE

Join Us at Our Annual Holiday Open House December 20th


As we near the end of 2006, I would like to sincerely thank all of our partners in economic development, particularly our investors, whose support is critical to our efforts. To that end, I invite each of you to attend EDCUTAHs annual Holiday Open House on Wednesday, December 20, 2006 from 4-6:00 p.m., at our office located in the One Utah Center (201 South Main Street, Suite 2010).

Please RSVP to Trina Stanley, in my office, at 801-328-8824 or tstanley@edcutah.org.

In addition, this issue of the Economic Review includes links to many of the ED-related news stories from the past week. If you have comments, suggestions or topics you’d like to see in the Economic Review, please contact us by clicking the “Comments” link on the bottom of this page.

Enjoy!

Jeff Edwards
Jeff Edwards
President and CEO





IN THE NEWS

Economic Development Headlines
continued...

Arizona Firm Introduces New Marriott Hotel Brand to Utah

- A new brand of Marriott hotels has entered the Utah market with an Arizona hotel firm bringing in four Spring Hill Suites hotels.  (The Enterprise)

Electronic Billboard Company Sold to Utah Native

- Millennium Sign Co., a Salt Lake City-based operator of electronic billboards, has been sold to a local company, who will rename it to Red Outdoor. (The Enterprise)

Logan Has One of Lowest Jobless Rates

- Northern Utah has the third-lowest jobless rate in the country, according to a U.S. Department of Labor report. (SL Tribune) (Herald Journal)

Expanded 'Palace' is Off and Running

- On time, under budget and ready to go, with the exception of a throw pillow or two. (Morning News)

Utah Real Estate Market 2nd in Nation

- While the housing market nationwide is going sideways or down, Utah home sales are still hot hot hot. (KCPW)

S.L. Gets Tips on Revitalizing Downtown

- With careful planning and clear laws, downtown Salt Lake City can become a thriving urban center, with housing, retail and transportation choices, a panel of officials from three comparable cities said Wednesday. (Morning News)

County, Real Bad Blood Lingering?

- Bad blood between Salt Lake County and Real Salt Lake officials appears to linger, as delays continue in inking a contract to fund a soccer stadium in Sandy, according to documents obtained by the Deseret Morning News. (Morning News here and here)
 

Headlines continued at the top of the right-hand column...



CALENDAR

Dec. 20:

EDCUTAH Holiday Open House (Salt Lake), 4 p.m. to 6:00 p.m. Please RSVP to Trina Stanley by Thursday, Dec. 7 at 801-328-8824 or by email at tstanley@edcutah.org.

Jan. 10, 2007:

Washington County Economic Summit (St. George)
7:30 a.m. - 2:30 p.m., for more information contact: Dixie Business Alliance, 225 South 700 East, St. George, 84770. Call (435) 652-7724 or email; website:
http://www.whatsupdownsouth.com

Feb. 8, 2007:

23rd Annual Investors Choice. Venture Capital Conference (Salt Lake City)
Learn the venture process, build a fundraising presentation and meet with venture, corporate and angel investors.  Submission deadline is October 30th. For more information visit: www.venturecapital.org/utah.

June 6-8, 2007:

The New West Summit, in Big Sky, Montana will bring together business leaders, entrepreneurs, politicians, journalists, academicians, and engaged citizens to talk about the future of the Rocky Mountain West.


EDCUTAH PARTNERS


Current Partners
Why Be a Partner?
Board of Trustees




Economic Development Headlines
continued...

South Jordan Fees Costliest

- For the second year in a row, South Jordan ranks as the costliest city in Salt Lake County when it comes to securing a commercial office building permit, according to a Brigham Young University study released Thursday. (Morning News)

Moderating Growth for Utah Economy

- Utah's economy is showing more signs of slowing down but is still strong and healthy, according to an economic report published Friday by Creighton University. (SL Tribune here and here)

RSL secrecy May Kill Stadium

- After promising to reveal its finances, Real Salt Lake has called for a confidentiality agreement to keep the Major League Soccer team's business plan and investors secret - even from Salt Lake County leaders who control the funding fate for a Sandy stadium. (SL Tribune)

Are Utah Wages Really 20% Behind the Nation?

- Anyone who looks around in Utah can tell you we have a young, vigorous labor force. That bonus is reflected negatively, however, in a new U.S. Labor Department report that ranks Utah 40th among the states for its average weekly wage. (KCPW) (Morning News)

Vegas Retirees Placing Their Bets on Cedar City

- They're trading neon lights for quieter nights, blistering sun for balmier fun, a garish Strip for a muted Main and blackjack tables for redrock canyons. (SL Tribune)

Utah Bucks Construction Drop

- Construction activity nationally plunged in October, but in Utah the hammers still are ringing as home builders continue to construct new houses and contractors put up new warehouses, office buildings and retail outlets.
(SL Tribune)

Plan Squarely Targets HAFB Jobs

- The Utah Defense Alliance’s strategic plan squarely outlines the group’s mission to attract defense-related jobs as a boost to Hill Air Force Base. (Clipper Today)

N. Utah Could Become Energy Hotbed

- Northern Utah’s mineral deposits and coal bed methane pockets will provide lucrative development opportunities over the next two decades, but the resource is still too expensive to harvest, a top state energy official said Tuesday. (Herald Journal)

Opinion: Attraction of Port 15 Grows

- Seeing is believing and the incoming businesses at the 800 acre industrial park west of Cedar City called Port 15 Utah is garnering believers. (The Spectrum)

Residents Object to North Park Remodeling

- Residents reacted negatively to a preliminary plan for redeveloping Spanish Fork's North Park that was presented at a public open house Tuesday night. (Morning News)

Sandy Rezones for Stadium

- This southern Salt Lake Valley city inched a little bit closer Tuesday night to hosting the state's first Major League Soccer stadium. The Sandy City Council unanimously approved a zoning change on 12.6 acres near 9400 South and State Street to allow for commercial development. (SL Tribune)

Tourism Contract Renewed

- The Utah Valley Convention and Visitors Bureau picked up a little bonus on Tuesday when Utah County commissioners unanimously approved a renewal of the bureau's contract to promote tourism in the valley. (Morning News)

Development Plan to Benefit District

- The Alpine School District has entered into a community development agreement with Pleasant Grove, which is giving 50 acres of farmland near the I-15/Pleasant Grove interchange to a developer to build a convention center and at least two high-rise hotels. (Morning News)

Master Planned Community on Horizon

- A 2,000-acre master-planned development may be in Cedar City's future. Cordero Development, which will bring in a second golf course, mixed housing and property for another school, is in preliminary stages with the Planning Commission. (The Spectrum)

Planners Back Sky Bridge Across SLC's Main Street

- Despite their own reservations and rules that forbid sky bridges on downtown's Main Street, Salt Lake City planners are backing the LDS Church's request to span the road for its new City Creek Center. (SL Tribune)

Nordstrom Plans to Build New Store at Fashion Place Mall

- Upscale retailer Nordstrom plans to move out of the 110,000-square-foot store it opened in Fashion Place about 25 years ago and build a 140,000-square-foot store at the Murray mall.
(SL Tribune)

Utah Ski Resorts Want to Increase Market Share

- Colorado captures 20 percent of the American ski market compared to Utah's seven percent. Ski Utah's Hilary Reiter says the state is working hard to increase market share for the Beehive State. (KCPW)

Developer Plans to Restore Decrepit Tooele Hotel

- On a late afternoon in "Newtown" Tooele, the corner of Broadway Avenue and Date Street is quiet. Few motorists pass through the intersection and, by choice or perhaps out of habit, even fewer glance in the direction of the vacant, red-brick building on the northwest corner.  (Morning News) (Daily Herald)

Developer of Daybreak Willing to Talk

- Residents who say they were misled about plans for a neighboring development got what they wanted Tuesday: support from the City Council and a commitment from Kennecott Land to work toward a compromise. (Morning News here and here)

Highland Votes to Add Commercial Retail Zone

- Highbrow Highland will soon be home to 17 new acres of commercial development, but the city's decision to add a retail zone to their general plan wasn't an easy one.
(Morning News)

A Refinery Reawakening

- For 10 years, the refinery that processed used oil just outside of town sat idle, but now two veteran oilmen believe it holds the key to unlocking the petroleum riches of the Uinta Basin to the north. (SL Tribune)

Opinion: Technical Colleges are Vital

- Technical careers are a valued asset to the local economy in Southern Utah communities. (The Spectrum)

Ski Utah Preps for Big Winter Season

- After three consecutive record breaking seasons, the excitement for the 2006-07 winter season could not be higher in Park City and throughout the state. (Park Record)

Smithfield Seeking to Revitalize Downtown Area

- City officials here are moving toward approving a law that would limit would-be apartment developers in Smithfield’s central business district, but create more of a mixed-use city center. (Herald Journal)

Government Projects Driving Valleywide Construction Boom

- Four major construction projects totaling $35 million should be completed in Tooele Valley by next April.
(Tooele Transcript Bulletin)

Resort Near Utah Lake Harbor Not a Sure Thing

- A proposal to develop a resort area north of the existing American Fork boat harbor on Utah Lake is still rough and uncertain. (Morning News)

Low Unemployment Strains Retailers’ Holiday Help

- With a record low unemployment in Utah, retailers are scratching under every rock they can find for workers willing to fill the demand for temporary holiday help, said Jim Olsen, executive vice president of the Utah Retail Merchants Association. (Utah Business Daily)

Utah Areas Dominate Top 5 of “Best Metros for Women Entrepreneurs”

- Four metropolitan areas of Utah are in the top five “Best Metros for Women Entrepreneurs” compiled by AllBusiness.com, Inc., an online resource for small and mid-size businesses (SMBs.) (Utah Business Daily)