The Redevelopment Agency of Salt Lake County (“Agency”) provides redevelopment and economic development services in six townships and six other areas organized by community councils, throughout Salt Lake County. Geographically, it encompasses one of the largest redevelopment areas in the State of Utah. The Agency typically becomes involved in projects where extraordinary obstacles exist that need to be overcome in order to attract private investment. In these cases, public investment can be used as a catalyst for additional private investment in our communities.
Redevelopment investment is a temporary diversion of property tax revenues from the traditional taxing entities and investing these funds in areas that have experienced economic decline. The RDA Act (“Title 17C, Community Development and Renewal Agency Act ") provides for three types of project areas from which tax increment funds can be generated for future investment:
- Urban Renewal Areas (URAs) require a finding of blight and allow for tax increment of all potential uses. URAs generate tax increment from all taxing entities and require approval of the Taxing Entity Committee. Use of eminent domain is also authorized under certain circumstances.
- Economic Development Areas (EDAs) focus on employment centers and allow for tax increment of non-retail uses. EDAs generate tax increment from all taxing entities and require approval of the Taxing Entity Committee.
- Community Development Areas (CDAs) target community priorities and allow for tax increment from all potential uses. CDAs generate from the entity’s tax rate only, but allow for tax increment from other taxing entities through interlocal agreement(s). CDAs also allow for sales tax increment and do not require approval of the Taxing Entity Committee.
The Family History Library, located in Salt Lake City, has genealogical records available from all over the world. Consultants at the library can help you begin researching your ancestors.
Instore magazine has picked O.C. Tanner in downtown Salt Lake City as North America’s “coolest” jewelry store.
The magazine, a trade publication based in New York City, picked the restored Tanner location on State Street over 109 other stores that entered to vie for the recognition.
Said one of the magazine’s judges: “The exterior is very stately and magnificent, the restoration a true testament to this historic building. Additionally, the O.C. Tanner story of strong family and community ties is integral to their concept of this building and a key to their success.”
The store, occupying the former Hansen Planetarium building at 15 S. State St., was opened last September after a $24.5 million restoration project.
Source: Instore Magazine, August 2010
According to the American Legislative Exchange Council, Utah ranks #1 in economic outlook. The report states: "The historical evidence is clear: States that keep spending and taxes low exhibit the best economic results."
State Economic Competitiveness Index, American Legislative Exchange Council, March 2009
Utah ranks #2 in economic competitiveness according to the Beacon Hill Institute 2008 State Competitiveness Report. The Institute looks at data such as crime rates, a state's ability to foster business and it's infrastructure to determine a state's competitiveness.
Beacon Hill Institute, December 2008
Nearly 20.5 million people visited the state of Utah in 2008. These travelers generated $7.19 billion of sales and revenue for Utah businesses last year. Forbes Travel reports that Temple Square is the 15th most visited tourism destination in the country with just over 5 million visits annually.
Source: Utah Office of Tourism & Forbes Travel Magazine
Forbes.com has ranked Utah the second-best state for business in their 2008 rankings.
The Alliance for Worker Freedom has given Utah the highest grade in the nation for worker freedom. The Alliance studied and compared each state by measuring the level of worker freedom and analyzing state policy and quantifiable data. The report looked at 10 variables including: right to work, minimum wage, union density, paycheck protection, defined contribution pension, collective bargaining rights and others.
The Alliance is a Washington DC organization. The inaugural national report card was issued in July 2008.
Salt Lake City has been named the "Fittest City in America" by Men's Fitness magazine. The top 50 cities were judged by their commitment to health and fitness. In addition, Salt Lake City was named the best city for women by Women's Health Magazine.
Men's Fitness Magazine, Feb 2009 & Women's Health Magazine, January 2009
Pollina Corporate Real Estate has ranked Utah #2 in their Top 10 Pro-Business rankings for 2011. "Utah's economic health and it's pro-business and tax structure are among its best selling points," according to Brent Pollina VP Of the company. "Utah is a state with political leadership that understands the challenge of global competition and has developed and implemented plans to meet that challenge."
Pollina Corporate Real Estate Pro-Business rankings for 2011.
A 2011 Gallup poll names Utah as No. 5 place for well-being among the 50 states.
March 2011, Gallup Poll in conjunction with Healthways and America's Health Insurance Plans.
Utah ranks #1 in an economic outlook report produced by the American Legislative Exchange Council. The third edition of "Rich States, Pool States". The report looks at 15 state public policy variables. The report authors analyed how economic competitiveness drive income, population and job growth. The report is available online at: www.alec.org .
Source: American Legislative Exchange, 2011 report
Permanent settlement of Salt Lake County, named for the nearby Great Salt Lake, began in 1847 when Mormon pioneers entered the Valley as Brigham Young proclaimed "This is the right place". The county was officially established in 1850. With self-sufficiency a major goal, the settlers diversified the economy early on by establishing basic industries to supply everything from pottery to printing paper.
Salt Lake County and the state capital, Salt Lake City, have always been the center of population, political power, and economic strength. The County is filled with activities ranging from tours at Temple Square, Hogle Zoo, the Bingham Copper Mine, art and cultural museums, skiing or hiking at four world-class mountain resorts, theater, symphony and major league sporting events.
According to the U.S. Department of Commerce, Utah is the only state in the U.S. which increases in exports during this recession.
U.S. Department of Commerce statistics 2010
Utah is the #1 Best State for Business & Careers for the second year in a row.
2011 Forbes Magazine ranking.
Utah ranks #1 in the U.S. in volunteerism. According to data collected by the Bureau of Labor Statistics and the U.S. Census Bureau, 48 percent of Utah residents gave their time to volunteer projects, compared to a 28.8 percent rate nationally.
According to Ski Utah, Utah ski resorts logged in an amazing 3.97 million skiier days for the 2008-9 ski season. The skiing industry continues to bring in revenue to the state thru skiing/tourism related activities.
Salt Lake County is home to four premier resorts including: Alta, Brighton, Snowbird and Solitude. These resorts are home to the "greatest snow on earth."
Lake Powell, located on the border of Utah and Arizona boasts an estimated 1,960 miles of shoreline, longer than the whole western coast of the continental United States.
Utah was featured in the March 2011 issue of Delta SKY Magazine. The 50+ page insert highlighted the state's economic and recreational hot spots, as well as interview some of Utah's top leaders.
Salt Lake City is the fifth best city in the country in which to do business in the next 10 years. Kiplinger's Personal Finance magazine selected Salt Lake because of its internationally recognized research in genetics and health sciences that has spawned dozens of new and successful businesses. The list of Best Cities appears in the July 2010 edition of Kiplinger's.
Source: Deseret News 5/27/2010
The Mormon Temple in Salt Lake City took 40 years to complete.
The granite stone was quarried from Little Cottonwood Canyon - home to Alta and Snowbird mountain resorts.
The Great Salt Lake, which is about 75 miles wide, covers more than a million acres.
The lake's average depth is just 13 feet.
The average snowfall in the four mountain resorts east of Salt Lake City is 500 inches.
There have been over 700 film and television shows and advertising spots shot in Utah. All three High School Musical films were filmed in Salt Lake City. East High School was used as the High School in all three movies. In 2008, 28 productions were filmed either partially or entirely in the state. That included using parts of Emery County as the planet Vulcan in this year's blockbuster, Star Trek.
The name Utah comes from the Native American Ute tribe and means "people of the mountain."
For the first 6 months of 2008, the Salt Lake City International Airport had the best on-time record of the 32 busiest airports in the nation. The airport served 20 million people in 2008.
Salt Lake City was originally named "Great Salt Lake City." Great was dropped from the name in 1868.
Salt Lake City played host to the 2002 Olympic Winter Games.
It is estimated that 3.5 billion people worldwide saw the Opening Ceremonies at the University of Utah's Rice Eccles Stadium through all media sources.
The 2002 Winter Olympic Games hosted by Salt Lake City, brought over 250,000 visitors to the state.
The resulting economic impact to the state was approx. $4.8 billion.
Salt Lake is home to the largest Family History Library in the World. The library, initially founded in 1894, houses:
- Over 2.4 million rolls of microfilmed records
- 727,000 microfiche
- 356,000 books, serials and other formats
- 4,500 periodicals
- 3,725 electronic sources.
- The Ancestral File database contains more than 36 million names that are linked into families.
Utah high schools graduate 90.2 percent of their students. According to the Utah State Board of Education, Utah has the 6th highest high school graduation rate in the country.
2009 Economic Report to the Governor.
Manufacturing companies comprise 9.3 percent of Salt Lake County's total employment.
Utah Department of Workforce Svs. 2007 data
Manufacturing payroll in Utah is the 3rd largest of all sectors -- over $3.8 billion. Only mining and financial services have a larger statewide payroll.
Utah Department of Workforce Services 2007 data
Utah's median age is the youngest in the nation at 28.5 years. The national median age is 36.6.
2009 Economic Report to the Governor.
Utah ranks No. 3 in the U.S. for life span with an average of 78.6 years.
2009 Economic Report to the Governor
The Red Rock Brewing Company, Salt Lake, was awarded the GOLD Medal at the North American Brewer's Association's 2008 North American Beer Awards for their Bamberg Rauch Bier, beer. Their German Pilsner took home a silver medal and their Bohemian Pilsner claimed a bronze medal. Red Rock Brewing also recently claimed a silver medal in the Brewers Association World Beer Cup 2008, a global beer competition. Red Rock was awarded the silver medal in the American Brown Ale beer style category for its Nut Brown Ale. Red Rock also swept last year's Great American Beer Festival in Denver, taking home five medals and being awarded Large Brew pub and Large Brew pub Brewer of the Year.
Source: The Enterprise, June 16, 2008 and May 5-11, 2008 edition
Utah's 2008 average electric rate of 6.5 cents per kilowatt hour for all sectors of the economy is 30% lower than the national average of 9.7 cents.
2009 Economic Report to the Governor.
The Pollina Corporation ranked Utah 2nd in overall its pro-business climate for 2008-9.
The Pollina Corporate Top Ten Pro-Business States 2009: Keeping Jobs in America
Salt Lake Chamber launched a new plan for the revitalization of downtown Salt Lake City, called Downtown Rising. The 40-year plan for the downtown includes transportation, commerce, the arts, open space and education. For more details on the plan, visit: the "Downtown Rising" website.
Salt Lake County has been designated the nation's first "Community of Peace." The designation, recognized at a ceremony on March 10, 2007, sets the county apart as a leading model of safety, nonviolence and prosperity.
Deseret News, March 11, 2007
Small businesses with less then 100 employees make up 97% of all Salt Lake County firms.
Utah Department of Workforce Services - 1st quarter 2007.
Fifty-three percent of Salt Lake County workers are employed by firms with 100 or less employees.
Utah Department of Workforce Services 2007.
Cottonwood Heights City has made the CNN Money Magazine ranking for the "100 Best Places to Live" list. Cottonwood Heights, just two years old, is the only Utah city to make the list.
CNN Money Magazine, August 2007