Utah Year End Review

GOOD NEWS for Utah as 2010 ends:

Utah Year End Review

Jobs Utah should add 16,500 jobs during 2011, according to Jim Wood, head of the Bureau of Economic and Business Research at the University of Utah. Utah suffered a loss of 72,000 jobs over the recent 22 month recession.

Utah has had positive job growth in each of the last six months, although the rate has been modest --between 1% and 2%. Furthermore, the report predicts that Utah should get back to its long-term average employment growth rate of 3% (37,000 new jobs per year) by 2013.

Population

The state of Utah has been the third fastest growing state in the nation, growing close to 24% in the past decade. That compares with the national rate of 9.7%. Utah’s growth has been helped by a comparatively resilient economy and one of the country’s highest birth rates.

Job Briefs

✦Adobe has picked its contractor for its new Lehi campus. Expect 1,000 new jobs with an average payof around $90,000 per years.

✦Chicago based Czarnowski Display Service Inc. is opening an office in the St. George area and will add 50 full-time employees at 150% of the Washington County average wage.

✦BYU has lifted its hiring freeze that has been in place for nearly two years, a sign that the economy is recovering.

✦Online retailer Overstock.com announced that the company will open a software development center in Provo early next year and will add 150 new jobs to the 1,500 the company already employs in the Beehive State.

✦Salt Lake Community College broke ground on a new $29MM 136,000 square foot classroom building at its Redwood Road campus near 4600 S.

✦Merit Medical continues work on its $45MM expansion in South Jordan. The expansion will accommodate 700 new jobs over the next several years.

✦A subsidiary of Rubbermaid is adding 50 new fulltime positions to its new manufacturing facility in Ogden.

✦Station Park in Farmington has broke ground. Harmons will be the grocery anchor. The stabilized value of the shopping center will be nearly $250MM. The project will include apartments (yet to be announced) near the Front Runner station.

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