3 Cities to Watch
Source: U. S. Department of Labor
Bill Conroy is managing editor of Scotsman Guide Media.
Reach him at (800) 297-6061 or email@example.com.
Utah employers added about 50,000 jobs in 2016, about the same number
as in 2015. Every industry but the energy sector added jobs last year, the
Utah Economic Council reports. The Beehive State’s tech industry notched
explosive growth last year, leading the nation in the first half of 2016 in
the rate of tech-job growth, at 7. 69 percent for the period, according to the
U.S. Bureau of Labor Statistics. Another strong employment-growth sector
in the state is financial services, which posted 18 percent job growth over
the past five years, according to EDCUtah.
Utah’s unemployment rate has consistently tracked below the national rate
over the past 10 years, peaking at 8 percent in late 2009 and early 2010
in the wake of the recession. The U.S. unemployment rate hit 9. 9 percent
during that same period. As of April 2017, Utah’s unemployment rate stood
at 3.1 percent, compared with the national rate of 4. 4 percent.
Utah boasts a tech corridor, dubbed “Silicon Slopes,” that stretches along
the Rocky Mountains from Ogden in the north to Provo in the south —
and includes Salt Lake City in between. The area’s robust tech sector
helped Utah earn a No. 1 ranking in innovation and entrepreneurship
in 2015 from the U.S. Chamber of Commerce Foundation. Major tech
companies that have helped to fuel the growth of Silicon Slopes include
Adobe, which opened a 680,000-square-foot campus in Lehi about five
years ago; and eBay, which opened a 241,000-square-foot campus near
Salt Lake City about four years ago.
Other tech companies that have in recent years moved operations to Utah
include EMC, Workday and Twitter, according to the Utah Governor’s Office
of Economic Development. Of the estimated 4,000 tech startups in Utah,
at least four are now $1 billion companies, according to Forbes, and are
backed by venture capital: Pluralsight, Qualtrics, Domo and InsideSales.
Utah’s third-largest city, with a population of 116,000, Provo has earned
a reputation as a tech center, earning a nod from Fast Company in 2015
as being the nation’s No. 3 city for tech jobs. Last year, The Milken
Institute, as part of its annual Best-Performing Cities Index, ranked the
Provo metro area at No. 2, citing technology as the major driver of the
community’s economy. Located just south of Salt Lake City, Provo also
is home to Brigham Young University as well as a major operational
center for software giant Novell, now part of Micro Focus.
Sources: Business Depot Ogden CNBC, Cushman & Wakefield, Economic Development
Corporation of Utah, Fast Company, Forbes, Fox 13, PR Newswire, Standard Examiner,
The New Yorker, U.S. Bureau of Labor Statistics, U.S. Chamber of Commerce Foundation,
U. S. Department of Commerce, USA Today, U. S. News & World Report, Utah Business,
Utah Department of Workforce Services, Utah Economic Council, Utah Governor’s Office
of Economic Development
SALT LAKE CITY
The capital of Utah and home to the Church of Jesus Christ of Latter-day
Saints, as well as the University of Utah, this city of nearly 200,000
people (Utah’s largest) also has a thriving economy. Major employers
include Novus Credit Services, Intermountain Health Care and Delta Air
Lines. The city also has attracted tech companies like Adobe Systems
and 3M Health Information Systems. U.S. News & World Report this year
ranked Salt Lake City as the 10th-best place to live among the nation’s
100 major metro areas.
A regional economic hub for northern Utah, Ogden’s largest employer
is the Internal Revenue Service, which has a major processing center in
this city of 84,000 residents. Ogden also is home to a 1,100-acre business
park that was once the site of a former military-warehousing depot. The
business park, called Business Depot Ogden, features 9. 5 million square
feet of industrial and office space. Some 115 businesses are currently
operating in the business park that together employ about 4,500 people.