Aug. 28, 2008

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

President's Message

Rapid Change Enveloping the American West


In late July a significant event occurred that largely slipped beneath the radar of most media outlets. Governor Jon Huntsman joined Colorado Governor Bill Ritter in Denver to herald the release of a new report, “Mountain Megas: America's Newest Metropolitan Places and a Federal Partnership to Help Them Prosper,” by the Metropolitan Policy Program at the Brookings Institution.

The report is part of the larger “Blueprint for American Prosperity,” a multi-year initiative designed to promote an economic agenda for the nation that builds on the assets and centrality of American’s metropolitan areas. The “Mountain Megas” report assesses the dramatic population growth and the economic and demographic shifts that are redefining the southern Intermountain West. It suggests that the region faces significant challenges and that our 2008 presidential contenders should take note.

Rapid change is, indeed, enveloping the American West. We commend Governor Huntsman for his dynamism on this and many other matters important to Utah and the Intermountain West.

On another subject, I am happy to note that 15 Utah companies have made it onto Inc. magazine's latest list of the 500 fastest-growing private companies. Tuesday’s Salt Lake Tribune provides a good summary of the companies involved. We commend these Utah businesses (listed below) for their incredible growth.

Company Rank Location Growth %
Skullcandy 31 Park City 4,077
Interbank FX 46 Salt Lake City 3,225
Salt Lake Mailing and Printing 60 Salt Lake City 2,639
Simplicity Group 94 Springville 1,983
Cymphonix 168 Sandy 1,399
Seastone 180 Provo 1,343
BuilderFusion 252 Orem 1,037
Doha 324 Orem 885
Fusion Holdings 335 Bountiful 861
Fishbowl Inventory 356 Orem 832
Heritage Web Solutions 392 Provo 778
AtTask 420 Orem 740
Clearlink 425 Salt Lake City 737
Mindshare Technologies 429 Salt Lake City 734
Engenuity Financial 481 Sandy 650


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

Introducing ‘Blueprint Jordan River: A Lake to Lake Vision’


What was once an oft polluted, under-appreciated channel of water flowing 50 miles from the fresh waters of Utah Lake to the salty shores of the Great Salt Lake, the Jordan River has in recent years come to be thought of as an urban oasis. The river parkway now offers a variety of recreational activities such as the International Peace Gardens, jogging and equestrian trails, fishing, canoeing, a water slide, a model airplane park, golf courses and other attractions, but the best is yet to come.

Last spring approximately 1,300 interested residents from three counties and 15 communities brainstormed their ideal future for the Jordan River corridor. They considered its potential for natural wildlife areas, trails, kayaking, shopping, beautiful work sites and much more. Their ideas have since been captured by Envision Utah in a visionary document and maps that depict what could be possible along the Jordan River. This new vision will be made public on Sept. 10 in an open house at the Cultural Celebration Center, 1355 West 3100 South, West Valley City, and on Sept. 11 at open houses in two locations: Lehi Legacy Center, 123 North Center Street, Lehi and at the Gale Center, 10300 Beckstead Lane, South Jordan. All three open houses will run from 6 -7:30 p.m. Those not able to attend an open house can evaluate the vision map and recommendations online at www.blueprint.slco.org  starting September 10.

Gabriel Epperson, planning director for Envision Utah, says the open houses provide an opportunity for Utahns to add their input about the Jordan River and the three-county effort dubbed “Blueprint Jordan River: A Lake to Lake Vision.”

The Jordan River faces significant challenges but has enormous potential to be restored and revitalized as a community, recreational, economic and ecological amenity. While the main goal of Blueprint Jordan River is to restore the river’s banks, stop erosion, prevent pollution and restore the wildlife habitat, Epperson says the 50-mile stretch from Utah Lake to the Great Salt Lake offers complimentary recreational opportunities that could make it a premier recreational destination.

“For instance,” he says, “a visitor to the state could ride TRAXX from the Airport to the Salt Lake County Fairgrounds and from there choose to kayak, hike, bike or jog for 50 miles in an unobstructed, attractive, natural parkway.”

The Blueprint Jordan River vision includes a continuation of the river trail from lake to lake, completion of the multi-use trail that parallels the river, removal of any trail or river hazards and efforts to prevent pollution from storm water runoff. If the vision is achieved, the Jordan River could become the central amenity in the region, an area that draws residents and visitors to accessible outdoor recreation, natural beauty, wildlife and interesting places to work, shop and live.

A common misperception about the Jordan River is that sewage is the main contaminant, but that’s not so. Epperson says most of the pollution comes from storm water and development, which erodes the river bank and washes too much sediment into the water. The cloudy water is a result of the sediment and algae blooms generated by an overload of nutrients, like fertilizers from gardens, lawns and agricultural areas.

The vision calls for preserving the most natural open space as possible, encouraging low-impact development strategies for new development, and revitalizing existing commercial or industrial areas near the river to include commercial venues, restaurants, recreational rental facilities and access to the river. Such areas include the Salt Lake County Fairgrounds, the area along the river near 33rd South, and Thanksgiving Point. The plan would make the river accessible to a larger number of visitors without affecting undeveloped areas.

Although Blueprint Jordan River involves three counties, Salt Lake County is the main sponsor and Envision Utah is the consultant. Lorna Vogt, Salt Lake County’s open space program manager, says the county provided most of the seed money to fund Blueprint Jordan River. Approximately $300,000 has been raised, most of which is being used to gather citizen input and compile realistic yet visionary solutions that cities and counties could implement throughout the river corridor. The vision document also will help build a public constituency for the river that is essential for ensuring the vision comes to life. Monies required to implement the vision will be pieced together from city, county, state and federal funds.

Vogt says implementation will occur incrementally, as the interested parties come together to address any inconsistencies and to ensure that all the efforts affecting the Jordan River mesh. The jurisdictions along the Jordan River that make policies and investments affecting it have the most to gain from a river that achieves its full potential. As the vision develops, citizens are invited to learn how they can contribute and make it a reality. For additional information regarding Blueprint Jordan River, please contact Gabriel Epperson at Envision Utah (801) 303-1453 or Lorna Vogt at Salt Lake County (801) 468-3571.

 

EDCUtah's annual meeting, Sept. 4 at 11:30 a.m.


In The News

Economic Development Headlines from the Past Week

Deal won't affect plans for Ogden

- Jet Aviation's acquisition by General Dynamics Corp. is "not really" a factor in whether it goes forward with plans to put operations in Ogden, a Jet Aviation spokesman said Monday. While the company has yet to act on a financial incentive from the state of Utah, the company is working on the business model and is optimistic to have some activities operating in Ogden early next year. (Morning News)  

New SLC tech firm acquires 2 companies

- A new technology company emerged Monday in Salt Lake City with help from vSpring Capital, a Utah venture capital firm whose investment allowed Sparxent Inc. to buy a pair of companies with revenues close to $70 million. (SL Tribune)

Salt Lake's Olympic legacy said to be strong

- As the curtain falls on the Beijing Summer Olympics, an official from the 2002 Winter games is touting the city's own Olympic legacy. Fraser Bullock, who served as President and CEO of the Salt Lake Olympic Organizing Committee, says prior to 2002 people were either unaware of Salt Lake City or focused on the bribery scandal surrounding the games.
(KCPW)

Utah colleges rank in 'America's Best'

- Utah colleges, including the University of Utah, Westminster College, Brigham Young University and Weber State University, have landed spots on one of the nation's most popular college-and-university ranking publications. (Morning News)

Free-trade boosters make stop in Ogden

- Organizers of a nationwide tour promoting expanded free trade between the United States and other nations said a Wednesday stop in Ogden was the most welcome reception it has received so far. (Standard-Examiner)

Editorial: Tourism grant a good use of tax money

- A $135,500 grant from the state to the Cache Valley Visitors Bureau is a good use of taxpayers’ dollars should the funds help bring more tourism to the area as planned. Money from the Utah Office of Tourism means the state recognizes the Visitors Bureau’s recent efforts to promote the area, evidenced by the greatest allocation of funding the valley has received in the three years it’s received these grants. (Herald-Journal)

Ogden makes a name for itself

- One of 10 places in the country where "you've gotta go." The third-best American town on the rebound. One of the 12 next great American adventure towns. These are just a few of the superlatives used recently to describe Ogden in national magazines and other prominent media outlets, which have caught wind of the city's revitalization efforts and the smorgasbord of nearby outdoor activities available to residents and visitors alike. (Standard Examiner)

Utah gas prices 3rd highest in U.S.

- Gas prices in Utah have fallen in recent days, but they remained the third-highest in the nation Thursday, while global oil prices increased. At $4.01 for a gallon of regular unleaded gasoline, Utah's average price was 31 cents higher than the national average of $3.70 per gallon. (Morning News)

Roy gets new WinCo grocery store

- WinCo Foods is coming to Roy, the company's first store in Utah. The grocery store chain, headquartered in Boise, has 62 stores in Idaho, Wyoming, Nevada, Washington, California and Oregon. (Standard Examiner)

Working with spouse: Marriage of skills, goals

- Kara Goldin, founder and CEO of San Francisco-based HINT Water, says women entrepreneurs are becoming comfortable working with their husbands. (SL Tribune)

Utah's outlook is called 'recessionary'

- Utah's economic outlook is grim, and relief may not be on its way any time soon, economists at a conference hosted by the Utah Association of Appraisers said Wednesday. (Morning News)

Delta-Northwest merger looks likely soon

- With no more congressional reviews planned, conventional wisdom now holds that the proposed merger of Delta Air Lines and Northwest Airlines will be completed this year without any major new political objections. (Morning News)


CALENDAR

Sept. 4: EDCUtah Annual Meeting, 11:30 a.m. (Grand America)
Sept. 8: 2nd Annual What's IN OUT Back Economic Summit and Golf Tournament  (Zermatt Resort/Homestead Resort & Golf Course)
Sept. 10: Blueprint Jordan River Open House, Utah Cultural Celebration Center, 1355 West 3100 South, West Valley City and Sept. 11 at Lehi Legacy Center, 123 North Center Street, Lehi or the Gale Center, 10300 Beckstead Lane, South Jordan
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.
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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