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FEATURE

Business, Civic Leaders Unite to Endorse Proposition #3 and Opinion Question

The state of Utah is facing a transportation crisis and on Nov. 7 Salt Lake and Utah County voters will largely determine whether Utah’s future economy screeches to a halt in gridlock or flourishes through increased mobility.

With the state’s population increasing at double the national average (the equivalent of adding a city the size of Draper and Riverton every year), and traffic growing twice as fast, traffic congestion on our roads and highways is expected to triple over the next 25 years.

Speaking to the Wasatch Front Regional Council last week, Salt Lake Chamber of Commerce President Lane Beattie said solving the state’s transportation problem is the business community’s number one priority. “If we don’t act to fund our transportation deficit our economy will screech to a grinding halt. It won’t just be our cars stopped in traffic; our economy will be gridlocked as well.”

Beattie said funding Utah’s accelerated transportation plan through Proposition #3 (Salt Lake County) and the Opinion Question (Utah County) is the most important public policy decision facing the state. “In all my years in the Legislature, as Senate President, and as the State Olympic Officer, I have never felt that a public decision was a critical as Proposition #3.”

Passage of Proposition #3 in Salt Lake County and the Opinion Question in Utah County will ensure the expansion of the TRAX and FrontRunner commuter rail system across the Wasatch Front, in addition to funding numerous other critical road projects.

While it is true the sales tax increase will cost the average Utah family about $104 per year, or roughly $8.66 per month, a new study of traffic congestion in Utah by The Road Information Program (TRIP) found that Utah drivers sitting in traffic waste up to 76 hours and 56 gallons of fuel annually. Traffic congestion costs the typical Utah driver as much as $1,275 a year in wasted time and fuel. Furthermore, the study said if the Wasatch Front “is unable to relieve traffic congestion and maintain sufficient mobility to support personal travel, provide timely goods movement and meet the mobility needs of its visitors, the state and region will suffer economically.”

The good news is that Utah taxpayers won’t foot the entire bill for expanded transportation. The state’s 2.9 million tourists pay much of Utah’s sales tax. Plus, every dollar that Utah taxpayers invest in highway and transit projects yields additional investment from the federal government. In fact, a study conducted by the Bureau of Business and Economic Research at the University of Utah titled, “Economic and Demographic Impacts of Federal Financed Transportation Infrastructure on the Wasatch Front,” determined that building recommended highway and transit projects could bring as much as $4.2 billion in additional federal money to Utah by 2030. That $4.2 billion will create almost 4,000 new jobs and add $212 million to the state’s economy each year. Should Utah delay its road and transit projects, that $4.2 billion would likely be appropriated to other states.

Endorsements

Proposition #3 in Salt Lake County and the Opinion Question in Utah County have received overwhelming, broad-based support by industry, by geography, by political affiliation, including endorsements from the following:

• Governor Jon Huntsman, Jr.
• Senator Bob Bennett
• Senator Orrin Hatch
• Congressman Jim Matheson
• Congressman Chris Cannon
• Congressman Rob Bishop
• The Sierra Club
• James Evans, former state senator
• Megan Risbon, Salt Lake County Democratic Chair
• Salt Lake Valley Conference of Municipal Mayors
• Wasatch Front Regional Council
• The Economic Development Corporation of Utah
• The Salt Lake Chamber
• The Provo/Orem Chamber of Commerce
• The Utah Hispanic Chamber of Commerce
• KSL Radio/TV editorial board
• Deseret Morning News editorial board
• Salt Lake Tribune editorial board
• Provo Daily Herald editorial board
• Most of Utah’s top business leaders

Utah must address its transportation needs sooner, not later, in order to protect the state’s economy and quality of life. Building an efficient highway and transit system will increase mobility, improve air quality, strengthen major employment centers, increase Utah’s economic competitiveness with other regions, bolster local economies and generate additional revenue to fund other state programs.

An Opportunity to Act

This election season, thanks to years of work by local governments and the Utah Legislature, voters in Salt Lake and Utah counties have an opportunity to make a generational decision about the transportation crisis. By voting for Proposition 3 in Salt Lake County and for the rail and roads Opinion Question in Utah County, a significant infusion of funding will flow to highway corridor preservation, FrontRunner commuter rail, expansion of TRAX light rail, and other highway projects.

Furthermore, accelerating the transit projects will reduce construction costs by 50%, saving taxpayers more than $600 million, while the increased mobility will help support Utah’s economic growth and maintain our great quality of life for decades to come.

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CALENDAR

Nov. 8:

EDCUTAH Investor Quarterly Update Meeting (Salt Lake), 4 p.m. to 6:00 p.m. Investors $20, all others $25. Please RSVP to Trina Stanley by Thursday, Nov. 2 at 801-328-8824 or by email at tstanley@edcutah.org.

Nov. 12-15:

CoreNet Global Summit (Orlando, FL)

Dec. 14:

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.

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The EDCUTAH Economic Review is a weekly publication of the Economic Development Corporation of Utah.  It is distributed to EDCUTAH partners and selected other government and civic organizations interested in Utah's economic development. If you prefer not to receive this newsletter, please use the link below. Subscribe or Unsubscribe Your comments and suggestions regarding this newsletter are always welcome. Click here: Comments