Deseret News Daily Business: Utah County job growth makes U.S. top 10
Ravell Call, Deseret News
UTAH COUNTY— Utah County is one of the fastest job and population growing areas, ranking eighth nationwide according to U.S. Census data.
From 2000 to 2010, Utah County employment grew 47.1 percent, CNN said, citing expansions of IM Flash Technologies and Overstock.com as contributing factors. The area is also attracting a new cyber-security center for the National Security Agency and an Adobe office.
The NSA facility brought 10,000 new construction jobs after its groundbreaking in January and will house up to 700 full-time employees upon completion.
In a similar report, Arizona State University ranked the state of Utah’s job growth as the fifth-best in the nation from June 2010 to June 2011. Utah jobs increased by 2 percent, double the national average, the report said. In 2010, 23,500 jobs were created. Utah professional and business service sectors, which added 7,800 jobs year over year, ranked fourth according to the Salt Lake Tribune.
“Your state is growing in a diversified sort of way,” Lee McPheters, director of the JPMorgan Chase Economic Outlook Center at the university’s W.P. Carey School of Business, told the Salt Lake Tribune. “A lot of states would be envious of being in that situation right now.”
Though jobs are springing up in Utah, the state is running into problems with job deficits, or the difference between the number of unemployed persons and the number of job openings.
Though Utah’s unemployment rate of 7.4 percent is below the national average of 9.1 percent, the state has the 8th largest jobs deficit. It would take 10.9 percent more jobs to climb out, according to CNN.
Utah has seen its working age population expand by 6.7 percent due to children entering the labor force and employee migration into the state, Pamela Perlich, senior research economist, Bureau of Economic and Business Research at the University of Utah, told CNN.
TECHNOLOGY & INNOVATION
'Million' pipeline touted as hydro project
A plan to pipe Green River and Flaming Gorge water from southwest Wyoming to Colorado's bustling metropolitan corridor faces opposition from a tri-state area.
CEO finds living in a Fishbowl has its rewards
Revenues at Fishbowl, a company that produces inventory-tracking software jumped from $312,000 to $12 million last year.
Millennial shoppers hold buying power
They are not just tech savvy; technology is their native tongue, and those who would sell to them should keep that truth in mind, experts say.
List ranks 2 Davis cities among best
Farmington ranks No. 12 and North Salt Lake checks in at No. 23 in the website's 2011 list of the best small cities and towns in the U.S.
LEADERSHIP & ETHICS
Office angels are with us, after all (Column)
Columnist Greg Kratz shares stories of office kindness from those who wrote them in.
MONEY & POLITICS
North Temple Bridge Opens Wednesday
On Wednesday, the new viaduct will reopen, giving direct access to eastbound and westbound North Temple to thousands of residents and business patrons.
Holladay asks S.L. County for $450K loan
The city of Holladay has asked Salt Lake County for a $450,000 loan to relocate a culvert at the site of a proposed hotel-restaurant development at 3000 E. 6200 South.
Utah’s Myriad launches stock buyback
The company announced Tuesday that the decision reflects “our commitment to a balanced capital-deployment approach,” Chief Financial Officer James Evans stated.
Utah power bills to rise $42 annually
State utility regulators have given Rocky Mountain Power the go-ahead to raise its rates by $117 million beginning Sept. 21.
Zagg Inc. reports record second-quarter results
The Salt Lake City-based company said its second quarter revenue increased 158 percent from the same quarter last year to a record $38.8 million.
- Man steals woman's boarding pass, checks into...
- Families of 3 missing persons ask for...
- MTC missionaries spend Thanksgiving preparing...
- Feds: Utah companies accused of conducting...
- 107 years of Grace: Cedar City resident still...
- New protocol to help domestic violence...
- Ogden woman sues trooper, alleging he...
- Police: Draper man stole mail from more than...
- 200 gather at Utah Capitol in support... 51
- Ogden woman sues trooper, alleging he... 36
- Feds: Utah companies accused of... 25
- Census: Utah has youngest newlyweds,... 16
- Man fighting for custody of daughter... 16
- Utah GOP, state appear headed to court... 12
- Man steals woman's boarding pass,... 9
- Ex A.G. John Swallow wants FBI, DOJ... 7