From Deseret News archives:
West bench Property might give Salt Lake County tax, jobs windfall
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"The projections are more reliable than what we had before, which was zero," Wood said. "The next study will be more reliable, but you have to start some place.... There is a lot of speculation, but it provides a context for a reference point; and when we'll be looking at this some time in the future again, probably several things will change."
Kennecott Land could start exploring new areas for development as soon as 2010, but a time line for the project is tied to the future of Kennecott Utah Copper's Bingham Canyon Mine. Kennecott Utah Copper has said the Bingham Canyon mine could stay open several decades beyond 2019, and Kennecott Land will begin to phase out the mine with other land uses when the time is right.
In the meantime, neighboring cities aren't the only entities interested in the west bench's potential. The information found in Wood's study is helpful to the Governor's Office of Planning and Budget, which forecasts state economic conditions and revenues and helps keep other organizations, like Utah's Department of Transportation, apprised of developing needs.
Values when project is completed in 2060
When the Kennecott west bench project is completed in 2060, it is projected that the west bench will account for:
• Nearly 26 percent of Salt Lake County's residences
• 21.8 percent of its office space
• 12.5 percent of its industrial space
• 11.1 percent of its retail space
By 2060, the statewide economic activity generated by the west bench development will be:
• 302,200 jobs
• $16.7 billion of personal income
• This will support a statewide population increase of 288,700 people
Source: University of Utah's Bureau of Economic and Business Research
E-mail: achoate@desnews.com
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