Cliffhangers resolved

If you like cliffhangers, 2004 was your year, at least in Utah's business community.

Would Nordstrom stay in downtown's Crossroads Plaza, or would it keep promising to leave?

Would the huge Outdoor Retailer trade show remain at the Salt Palace, or would it flee to Las Vegas?

Would Delta Air Lines file for bankruptcy and shut down its Salt Lake hub, or would it stick around?

Would the state's economy and job market turn the corner, or would Utah have another down year?

Just like in Hollywood, all of those questions were happily resolved, local experts say.

"Every quarter we exceeded expectations and revenue at the (State) Tax Commission, which is a strong sign that our economy is growing," said Lane Beattie, president and chief executive officer of the Salt Lake Chamber and Downtown Alliance.

And that growth showed in people's attitudes during the year.

"I think we have had a significant change in the last year in people's optimism about Utah, about downtown, about our economic strength," Beattie said. "All of which I think will (lead to) significant stories for next year."

Nordstrom and downtown

One of those attitude adjustments came in the form of good news — for a change — about downtown Salt Lake City, he said.

Nordstrom officials announced in August that they had changed their minds. Instead of leaving downtown, the upscale retailer said it was staying, thanks to redevelopment plans for Crossroads Plaza and the ZCMI Center put forth by The Church of Jesus Christ of Latter-day Saints.

"That was a very significant announcement, and even more important than that was what the announcement did not say," Beattie said. "Nordstrom obviously, to make that decision, knows a lot more about who else is coming than has been announced.

"I think this is the predecessor to other great announcements that will be made this coming year."

Kelly K. Matthews, Wells Fargo executive vice president and economist, agreed that the Nordstrom announcement was "very, very, very important" and will mean a lot for the area's economy.