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Regional Report: Mountain Region States Highlighting Innovation and Pioneer Industries

Karen Thuermer (Directory 2015)
States in the mountain region are pulling out the stops to attract advanced technology companies. Nowhere is this more true than in Nevada, where Tesla is building its gigafactory, which will be the world’s largest and most advanced battery factory. More

Slideshow: 2014 Gold and Silver Shovel Award Recipients

Area Development Magazine Special Presentation (Directory 2015)
Shown here are 12 of the recipients of Area Development’s 2014 Gold & Silver awards, which were bestowed in recognition of the states’ efforts to capture new facility and expansion projects that resulted in significant investment and job creation. All told, 20 states were recognized for their efforts. More

Critical Site Selection Factor #5: Advanced ICT - Companies Look to Visionary Locales

Dale D. Buss, Staff Editor,  (Q4 2014)
The rise of “big data” in nearly every industry vertical has promoted continued importance of a robust information and communications technology (ICT) infrastructure as a site selection factor. More

Critical Site Selection Factor #9: Low Union Profile - Unions Still a “No-Go” Factor for Many

Dale D. Buss, Staff Editor,  (Q4 2014)
Having a low union profile ranked as slightly more important in Area Development’s latest Corporate Survey, up one position to #9. But in a similarly incremental sense, U.S. unions overall actually may have gained some ground over the last year. More

Revolutionary Advances in Life Sciences amid Industry Disruption and Uncertainty

Mark Crawford (Q4 2014)
Major economic, social, and regulatory factors are having big impacts on the life sciences and medical device industries, representing an opportunity for innovative companies to become new leaders and gain market share. More

2014 Gold Shovel Awards: Excellence in State Job Creation and Economic Development Efforts

Area Development Magazine Special Presentation (Q2 2014)
Area Development’s annual Gold and Silver Shovel Awards recognize individual states for their economic development prowess. We honor 20 states for their achievements in 2013 in garnering company investment and job creation. More

Leading Locations for 2014: The MSAs with Strongest Prime Work Force Growth

Dale D. Buss, Staff Editor,  (Q2 2014)
A yawning gap has developed between millions of potentially available workers and the increasingly sophisticated skills they would require to qualify for today’s generally tech-oriented jobs. More

Leading Locations for 2014 Commentary: One Industry, or Many, Can Lead to Economic Success

Jim Eskew, Vice President, JLL (Q2 2014)
As revealed in the overall “Leading Locations” rankings, there is more than one way to become an attractive location. Some locations have risen on the strength of a dominant industry sector. Others have prevailed by offering low-cost real estate, talent, and other resources in a balanced, diversified economy. More

UTAH at a glance

POPULATION: 2,817,220 (2011)

LABOR FORCE: 1,338,260 (2011)

RIGHT TO WORK: Yes

TRADITIONAL INDUSTRIES:Manufacturing, mining, government, agriculture

EXPANDING INDUSTRIES: Life sciences, healthcare, outdoor products/recreation, advanced composites, autonomous vehicles, renewable energy, financial services, digital media

COLLEGE GRADUATES: (Age 25 and over) 29.7% (with four-year degree

BASIC BUSINESS TAXES:
Corporate Income and Franchise Tax: 5 percent

Sales and Use Tax: 5.95-8.35 percent

Property Tax: Property tax per capita of 2.9 percent (2011)

BUSINESS INCENTIVES:
Commonly used incentives:

• Economic Development Tax Increment Financing (EDTIF) (a postperformance refundable tax credit incentive)

• Industrial Assistance Fund (IAF)

• Rural Fast Track Program (RFTP)

• Enterprise zones

SPECIALTY INCENTIVES:
• Renewable Energy Development Incentive (REDI)

• Custom Fit Training Program

• Economic Opportunities (EO)

• Film incentives

• Private activity bonds (PABs)

• Recycling zones

• Manufacturing equipment sales tax exemption

• Short-term intensive training/ incumbent worker training

• Workforce Investment Act (WIA)

• Industrial development bonds

• Aerospace tools tax exemption

Principal Manufacturing industries

  • Primary Metals
    49.0%
  • Chemicals
    30.0%
  • Computers & Electronics
    9.0%
  • Food
    3.0%
  • Transportation Equipment
    3.0%
  • Other Manufacturing Industries
    6.0%