The USU Innovation Campus is a bustling research center
housing 47 companies and 2,103 employees in 450,000 square
feet of office and lab space. With a $2.4 million grant in
hand from the U.S. Dept. of Commerce Economic Development
Administration, the campus is poised to grow from 38 acres
to 188 acres. At full build-out it will have the capacity
for over 8,000 employees. EDCUTAH has been a long-time
proponent of the Innovation Campus and has made frequent
visits there to offer assistance to tenant companies and
to assist the park, along with USU research offices, in
setting business recruiting strategy for technology
companies.
Teresa McKnight, USU Innovation Campus director, says the
campus has been so successful its occupancy rate has never
fallen below 95 percent. Whats more, in 2005 the annual
earnings of campus companies totaled $132 million,
equating to annual in-state productivity of approximately
$396 million.IN THE NEWS
Economic Development Headlines
HAFB Likely to Get New Jet Fighters
- A squadron of the Air Force's most cutting-edge fighters could arrive at Hill Air Force Base in 2009, securing the base's future and potentially boosting the state's economy, the Air Force said Wednesday. (Morning News) (Clipper) (SL Tribune) (Standard Examiner)
Lots of People Staying at Davis Hotels
- Tourists and other visitors are filling Davis County’s hotels. A higher percentage of Davis County’s hotel rooms than ever were filled with guests over this past summer season, the latest Rocky Mountain Lodging Report indicates. (Clipper)
Layton Interchange Response Positive
- There’s still no definite date as to when it will be constructed, but work continues on preliminary studies for a new South Layton Interchange. Layton Community & Economic Development director Scott Carter said “we’re now in the first of two phases” for the study which, between its two parts, will cost about $1 million. (Clipper)
Schools Detail USTAR Research Projects
- New fuels and bioengineering are among the research areas the University of Utah and Utah State University plan to pursue using several million dollars in Utah Science, Technology and Research initiative funding. On Thursday, representatives from the two research institutions briefed USTAR board members on plans for the near future. (SL Tribune)
Retail Developer Fills Upscale Malls
- The firm contracted to entice shoppers to rediscover Salt Lake City's Main Street at what is being called City Creek Center is one of the largest retail developers in the United States. Taubman Centers Inc. owns and operates 23 malls in 11 states, including Arizona, California and Colorado. (Morning News)
City Creek Center at a Glance
- A mix of retail, residential and office space, tentatively called City Creek Center, will fill the two blocks from West Temple to State Street between South Temple and 100 South, as well as the half-block from Social Hall Avenue to 100 South between State Street and 200 East. The buildings will be traversed by pedestrian walkways with gardens, fountains and a creek meant to represent City Creek. (Morning News)
Reactions Run the Gamut on Plans For Downtown SLC
- Trust and skepticism, grief and elation. And everything in between. Response to The Church of Jesus Christ of Latter-day Saints' downtown redevelopment project was mixed this week, if feedback sent to the Deseret Morning News is any indication. (Morning News here, here, here, here, here and here) (KSL here and here) (SL Tribune here, here, here, here, here, here, here and here) (KCPW here and here)
Back in the Black
- Coal production is up. More miners are at work. And that means more jobs in the trucking industry and other mine-service businesses. At least for the short term. These are good economic times in Carbon and Emery counties, the heart of Utah's coal country. (SL Tribune)Tiny Town is Abuzz About Mega-Resort
- Town Clerk Jeania Joseph is right. With plans for a 100,000-square-foot spa, $6 million villas and $1,200-a-night hotel rooms, the swanky new resort under construction near Lake Powell won't be serving the "Wal-Mart and Kentucky Fried Chicken crowd." (SL Tribune)
Wasteland to Playland?
- Heavy equipment has begun scooping hazardous waste from a small corner of the 21st Street Pond at the heart of industrial west Ogden. Soon, if the city's plans pan out, the old cleanup site at the Union Pacific rail yard will morph into a patch of entertainment heaven. Ogden plans a park, an amphitheater and a world-class water ski pool around it. (SL Tribune)
How long Will the Energy Boom Last?
- There's an old saying in rural Utah: You can tell when a boom is going to bust when people start insisting that this one is different. But economic-development officials say changing world markets and increased demand make this eastern Utah energy rush unlike previous oil bonanzas. This time around, exploration for natural gas represents about three-quarters of the area's activity. (SL Tribune)
Sandy Soccer: Texas Twist?
- Sandy leaders digested a Texas-sized sales pitch on soccer stadiums this week, and walked away sold in a big way. "You couldn't help but be impressed," said City Councilman Steve Fairbanks, who joined Mayor Tom Dolan, Real Salt Lake insiders, developers and four fellow council members in a Wednesday tour of Pizza Hut Park in a Dallas suburb. (SL Tribune)
Utah Adventure Race Comes to ESPN2, ABC
- Primal Quest Utah, an adventure race that contributed more than $2 million to Moab's economy when it took place between June 25 and July 4, will be televised next week on the ESPN and ABC networks. (SL Tribune)
Business Park to Get Bigger
- The Kaysville Business Park will be able to expand as the result of the city’s rezoning 15 acres. (Standard-Examiner)
Big Incentive Helps Lure Speedskating Group
- It's worth $400,000 to the state for the U.S. Speedskating organization to relocate its headquarters from Ohio to the Utah Olympic Oval in Kearns. That's how much money the Utah Sports Commission has agreed to pay the sport's national governing body over the next five years, officials said Wednesday during a press conference called to announce the move. (Morning News)
SLC to Europe: Direct Flights Off '07 Radar
- A direct flight from Salt Lake City to Europe is probably in Utah's future but it isn't going to happen in 2007 as hoped... (SL Tribune)Utah House Leader to Resign, Take Economic Development Post
- The floor general for the House Republicans will be stepping down before the end of the year to help attract corporate headquarters to the state. House Majority Leader Jeff Alexander, R-Provo, announced Tuesday that he plans to relinquish his legislative post sometime in November or December to begin serving as the headquarters adviser for the Governor's Office of Economic Development. (Morning News) (SL Tribune) (KCPW) (Daily Herald)
Reviews Mixed on Orem Project
- Neighborhood reactions to a mixed-use development with living-and-shopping options shooting skyward on Orem's State Street are just that — mixed. (Morning News)
Business Growing — But Slowly
- Growth, only
slower. That's the message in the latest Mountain States
Business Conditions Index. The index, released Monday, fell
to 73.3 in September from August's 75.6. (Morning
News)
Utah First Fridays Resumes With Keynote Speaker Paul Allen
- After a summer hiatus, Utah First Fridays resumed Oct. 6 with a new focus on networking. (Utah Business Magazine)
Varian Medical Systems Expands By 70,000 Square Feet
- Varian Medical Systems, which manufactures X-ray tubes and digital X-ray image detectors, celebrated the completion of its 70,000-square-foot expansion Thursday. (Utah Business Magazine)
Questar Shuts in Some Rockies Natural Gas Production
- In response to low natural gas prices, Questar Corp. subsidiary Questar Exploration & Production Company (Questar E&P) has shut in production on a portion of its unhedged natural gas production. (Utah Business Magazine)
Clyde Companies Gives $100K to U of U College of Engineering
- The University of Utah College of Engineering has announced a $100,000 gift from the Clyde Companies, Inc. with the hopes it will help inspire more engineering students to pursue degrees in the construction and consulting engineering industry. (Utah Business Magazine)