April 18, 2008

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

President's Message

South Jordan Receives National
Recognition
 

We are always pleased to hear of the success of our partner organizations. Like many Utah cities, South Jordan City has experienced incredible growth. In an effort to plan for the future, city officials developed a sophisticated forecasting model that has received national attention. This week's feature story covers the success South Jordan City's model and the reception it is receiving by other cities nationwide.

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

South Jordan City Recognized for Innovation, Sustainability Forecasting Tool


Earlier this year South Jordan City received national recognition as a leader in government innovation by the Alliance for Innovation, an internationally recognized nonprofit association of local governments.

This coming June, South Jordan City officials will make a case study presentation at the Alliance for Innovation's annual Transforming Local Governments (TLG) Conference in Greenville, South Carolina. The TLG conference represents the epitome of innovation in the public sector and will bring together nearly 1,000 local government professionals from every facet of public service.

What's all of the excitement about? In 2006 South Jordan created a 20-year financial sustainability forecasting model, which is a rare (if not unheard of) commodity at the local government level. Rick Horst, city manager for South Jordan, says the model?a dynamic, computer-based forecasting tool?helps city officials forecast the long-term effects of the decisions they make and provides a framework for discussing how to create a sustainable community in the future.

?The model uses fiscal research methodology to help decision makers link today's decisions with tomorrow's possibilities,? Horst says. ?At the conference, South Jordan will share its experiences as an example of how innovative advancements in governmental operations can result in effective and rewarding service to the community.?

South Jordan was selected to present at the annual TLG conference because of its demonstrated creativity and leadership in redefining the conventional style of local governance. It's presentation, ?Back to the Future: The Best Way to Predict the Future is to Create It,? will showcase South Jordan's efforts to create a long-term financial model and the management culture that supports it. Horst says the city hopes to help other municipalities join South Jordan's vision and passion for creating a sustainable future.

Mayor William Kent Money says South Jordan is pleased to be recognized as a leader in innovation for its efforts to provide wise and sustainable financial management solutions. ?Our citizens deserve the best and I think South Jordan is proving that governments can and do take a proactive approach to long-term sustainability,? he adds.

South Jordan's population has increased nearly 70 percent since the 2000 census and is projected to continue its rapid growth for the foreseeable future. City leaders have expressed a strong desire to manage the growth and create a community that will be fiscally and socially sustainable for generations to come. Horst says the forecasting model is a remarkable tool that integrates land use information with tax policy, economic development and personal needs to assess the impact of today's decisions in such a way that city leaders can visualize their impact for approximately 20 years into the future.

Other cities presenting case studies at the TLG conference include:

  • Aspen, Co
  • Austin, TX
  • Berkeley, CA
  • Carlsbad, CA
  • Charlottesville, NC
  • DeCatur, IL
  • Fort Collins, CO
  • Las Vegas, NV
  • Phoenix, AZ

To learn more about South Jordan City click here.

To learn more about the Alliance for Innovation, click here.

EDCUTAH INVESTORS

Current Investors
Why Be an Investor?
Board of Trustees

 
In The News

Economic Development Headlines from the Past Week

$75 million mixed-use project planned in downtown Salt Lake

- A South Dakota hotel developer plans to break ground this summer on Salt City Plaza, an approximately $75 million mixed-use project located between 500 and 600 South near 200 West in Salt Lake City. (SL Enterprise)

Boston-based healthy, fast-casual eatery to open multiple Utah outlets

- UFood Grill, a Boston-based healthy, fast-casual restaurant chain, is preparing to enter the Utah market as part of the company's northwest expansion. (SL Enterprise)

New firm gives customers chance to drive fleet of exotic cars

- Day Dreamin' Exotics, a new company that offers customers the opportunity to drive more than $600,000 worth of exotic automobiles during a five-hour, 150-mile tour for $499, has opened for business in Salt Lake City. (SL Enterprise)  

California building products distributor to enter Utah

- Acoustical Material Services, a Santa Fe Springs, Calif.-based wholesaler and retailer of building materials, is planning to enter the Utah market next month with an approximately 21,000 square foot facility. (SL Enterprise)

Businesses need to prepare for new '385' area code overlay

- Starting June 1, both landline and cell phone users -- regardless of their service provider -- are being urged to dial "801" and then the local phone number to which they want to connect in anticipation of an "area code overlay" that will be implemented next year. (SL Enterprise)

More Condos, Businesses Planned

- CLEARFIELD -- The city could have two large mixed-use developments with condos and businesses within a mile of each other. (Standard Examiner)

Analysis to start on proposed business park for Centerville

- The Centerville Redevelopment Agency (RDA) recently approved Jonnalyne Walker, LLC, to begin a cost/benefit impact analysis for the proposed Shorelands Economic Development Project on the city's west side. (Davis County Clipper) 

SEED program to help startup businesses

- There is a new program in place to help more entrepreneurs see initial success with their ideas, and it's already receiving success stories. (Davis County Clipper)

Small-business conditions drop

- For the fourth consecutive month, the Zions Bank Small Business Index for Utah has declined, coming in at 96.3 for March, a decrease from a revised 97 for February. (Morning News)

American business goes native

- Despite the opening ceremony with its Olympic drum circles, legends and tribal lore ? not to mention the impressive and dynamic Discover Navajo Pavilion ? not much business came out of the Olympics for Utah's native tribes. (Morning News)

Salt Lake Chamber and World Trade Center Utah Help Utah Businesses Compete

- The Salt Lake Chamber of Commerce is celebrating its 50th year as a sister chamber to the Matsumoto Chamber of Commerce and Industry in Nagano, Japan. That relationship, like the many other programs and services the chamber offers, has helped Utah businesses grow and prosper. (Utah Business Magazine)

Get Prepared, Then Rest Easy, Experts Say

- Being prepared now will allow businesses and families to rest easy when the storms come, said Lt. Governor Gary Herbert. (Utah Business Magazine)

Klymit Wins 2008 BYU Business Plan Competition

- Klymit was named winner of Brigham Young University's 2008 Business Plan Competition, taking home the grand prize of $50,000 in cash and in-kind services. (Utah Business Magazine)

CALENDAR


April 23: Northern Utah Business and Economic Summit, Davis Conference Center. Click here for more information.

May 4-7: CoreNet (San Diego)
May 14: Board Meeting

May 18-21: ICSC (Las Vegas)
May 18-22: SAMPE (Long Beach)
June 4: Golf Tournament (Wasatch Mountain)
June 9-12: AUVSI (San Diego)
June 17-20: BIO (San Diego)
June 18: Executive Committee (EDCUtah)
June 25: Quarterly Update (location TBD)
Aug. 6: OIA Thought Leader
Sept. 13-17: IAMC (Oklahoma)
Sept. 25: What's Goin' Down Up North - Northern Utah Economic Summit Thursday, September 25, 9 a.m. - 3 p.m. Utah State University Innovation Campus, North Logan. Registration form.
Oct. 9-12: CoreNet (Orlando)
Oct. 22: Quarterly Update
Dec. 17: Holiday Open House (EDCUtah)