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  #341  
Old Posted Nov 7, 2006, 1:28 AM
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I'd never mock any Frenchie.

No, I seriously wonder if all these little "mini city centers" are detracting from the vision of a larger downtown. But again, bitter.

And the Jazz....wake me during the playoffs.
     
     
  #342  
Old Posted Nov 7, 2006, 5:56 AM
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I guess once a city incorporates they have to figure out how to generate tax revenues.
I always wonder what it would be like if we would have had some of these sprawling business parks like cottonwood heights, stacked downtown. How many more towers would we have?
     
     
  #343  
Old Posted Nov 7, 2006, 7:15 AM
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South Salt Lake mixed-use project sought

By Amelia Nielson-Stowell
Deseret Morning News
SOUTH SALT LAKE — A developer is hoping to capitalize on the transportation stops in South Salt Lake and create a 12-acre community with retail and residential space.
The $350 million to $400 million mixed-use project, Market Station, would feature 15-17 buildings, some up to 11 stories high, with hundreds of thousands of square feet of retail space and 600 residential units.
"No doubt it's a tired area that's been light industrial in the area for years, and it's run its course in that use," said developer Steve Aste. "It's long overdue for a project like this."
Aste, managing partner of Park City-based Cascade Developments Partners, is building the project with Los Angeles-based West Millennium Homes. The two already opened phase one of their project earlier this year. That development, Central Pointe, a 76-unit condo complex with seven retail stores, is located at 2150 S. Main St.
Market Station is phase two of the expansion and will extend from 2100 South to 2300 South and Main Street to State Street. The site was formerly home to Burton Lumber, which vacated the grounds over a year ago.
The project is centered around various transportation hubs. Both Interstate 15 and Interstate 80 feed into the project, as does TRAX. A proposed trolley line would run from the Central Pointe TRAX stop near Market Station to Sugar House on an existing hard-rail line along 2200 South, a Utah Transit Authority right-of-way.
The idea of a trolley has been discussed for years, but Aste said it could be a reality in the next three or four years. However, UTA's Justin Jones said the earliest it could be created would be 2030. Currently, UTA is focusing on extending other TRAX lines before developing the trolley system.
"Since we have a corridor and a right of way, it would be silly not to use it for some sort of transportation purpose," said Jones, the UTA spokesman. "But there isn't any funding for it."
Aste's project and the lack of parking in Sugar House have spurred additional city support for the trolley line. South Salt Lake and Salt Lake City have both funded a preliminary study on the proposal. Results could be released by January.
That study will explore various options for the UTA rail corridor, such as using a trolley, light-rail car or bus, and even the possibility of adding a walking and biking trail next to the rail line.
But Bill Anderson, chairman of the South Salt Lake City Council, said the council does not want to use that rail corridor for the project because it cuts through neighborhoods and would likely have few if any stops within South Salt Lake. He favors a soft-tire trolley bus that would run on the streets and stop every few blocks.
Market Station, however, is a welcome project in the city of 22,000, where 62 percent of residents are renters.
"Because of that location, it obviously has potential for development," Anderson said. "We're thrilled that somebody is willing to take the risk. That is not a cheap — to be taking."
Unlike other retail-driven projects, Market Station will be its own small community, with a grocery store and dry cleaner.
"It's going to be different from what (Salt Lake) is doing at City Creek or the Gateway, because those are destination malls. This is centered around community first," he said. "I don't view it as competition, I view it as an alternative."
In the coming month, South Salt Lake's Redevelopment Agency Board will discuss making the 12-acre site a redevelopment project. If that is approved, property-tax dollars could be diverted to it for infrastructure costs, such as redoing the old sewer system, putting power lines below ground and building a public parking lot.
     
     
  #344  
Old Posted Nov 7, 2006, 7:16 AM
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'City Creek' OK'd — LDS Church gets permits for 5-year project

By Doug Smeath
Deseret Morning News
Salt Lake City has given The Church of Jesus Christ of Latter-day Saints the official go-ahead: Five years of work on the planned City Creek Center can start tonight.
Scott G. Winterton, Deseret Morning NewsDowntown reconstruction will begin tonight with sidewalk closure. The city on Monday granted the first permits to Property Reserve Inc., the church's real-estate arm, for the planned revamp of two blocks at the heart of downtown. That means the barricades can go up and the Inn at Temple Square can come down.
"We are all thrilled that the first tangible work on this site is about to proceed," PRI president Mark Gibbons said Monday. He added this assurance: "Downtown and these blocks will continue to be open for business."
Sometime after 10 tonight, PRI's construction contractors will close the sidewalk on the east side of West Temple from South Temple midway to 100 South. Along with the sidewalk, the right-turn lane from West Temple to South Temple will close.
That has at least one business owner worried.
"We just can't imagine not being able to make a right turn on West Temple," Utah Woolen Mills Clothiers owner Bart Stringham said. His store, at 59 W. South Temple, plans to remain open during construction and once City Creek Center opens. "That's the main thoroughfare. We've been assured that our right-of-way and access to our business won't be denied."
But the right-turn closure is necessary to allow a staging area for construction trucks, according to Bill Knowles, ombudsman for Downtown Rising, a coalition of businesses plotting downtown's future.
"We will guarantee that business access is fully respected and maintained," he said.
Stringham said he's not sure yet how he will respond once the turn lane closes.
Salt Lake City transportation director Tim Harpst said the closures will have little effect on traffic in the area, and PRI and others involved remain hopeful that will continue throughout the entire project, which will ultimately see the demolition of most of the blocks currently housing the Crossroads Plaza and ZCMI Center malls.
"This is the opening of downtown," Salt Lake Chamber president Lane Beattie said. "This is the beginning."
While City Creek Center will be a "monstrous project," said Downtown Alliance director Bob Farrington, it represents only 20 acres out of 400 acres making up downtown's core. He said it will be fully contained, so there will be almost no impact on the surrounding shops, restaurants and offices.
The work will have no effect on Christmas shopping at Nordstrom and Macy's, both of which will remain open through the end of the year, he said. And the work "will have no bearing" on downtown holiday lighting displays or the Gallivan Center's First Night celebration on New Year's Eve.
Crossroads Plaza's parking structure will remain open as the inn comes down, with just one entrance closing, immediately south of the inn. The sidewalk on the south side of South Temple will also remain open, though part of it will be covered.
Utah Transit Authority spokesman Justin Jones said at least some bus routes that run down West Temple between 200 South and North Temple will be detoured to run along 200 West.
Once the barricades go up, construction crews will have some pre-demolition work to do before the inn comes down in mid- to late November, according to PRI's estimates.
The permits allow demolition work on the inn to last through the end of the year. After the inn, buildings will continue to fall one by one, roughly west-to-east. The Key Bank Tower will be the last to come down on the block.
In about six months, demolition will start on the ZCMI Center block, and the fate of one building there remains uncertain. Gibbons on Monday said PRI had made no decisions and had no updates on the Deseret Bank/First Security building, a historic building that was originally slated for demolition but is now being re-evaluated in the wake of public opposition.
Downtown Rising will use its Web site, www.downtownrising.com, to keep residents and visitors updated as the project progresses, detailing upcoming demolitions and closures as they are announced.
Knowles said he expects the biggest issues that Downtown Rising, PRI and others will face will involve speculation and some of the perceptions "that downtown is going to be one great big orange cone" rather than any serious traffic or access problems.
     
     
  #345  
Old Posted Nov 7, 2006, 2:37 PM
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Anyone know what's happening with the bridge?



Has anyone heard any more info. about the pedestrian bridge plans over Main street? I know Leebuddy posted a meeting time for last week regarding the bridge.
     
     
  #346  
Old Posted Nov 7, 2006, 3:31 PM
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Were you guy's even aware of this? I know I wasn't. And so close to the Metro.

Michael Benanav for The New York Times
The Cedar Mountains, named a federal wilderness area this year.

NEW YORK TIMES,

By MICHAEL BENANAV


A BREEZE rustles the cheatgrass that carpets the rolling highlands in emerald and gold. Atop the ridges, birds call from juniper trees laden with berries. Sometimes, there's a staccato clopping of hooves — wild horses are close by, whether or not they allow themselves to be seen. Otherwise, there is silence.

A sense of untainted solitude is the defining characteristic of the Cedar Mountains in Utah, which rise amid the vast expanse of the Great Salt Lake Desert about 40 miles west of Salt Lake City. The range is small compared with others in the West, about 40 miles long by 6 miles wide — roughly three times the size of Manhattan. But this year it has made big news in Utah.

On Jan. 6, 100,000 acres of the Cedar Mountains became the newest federally designated wilderness area — and the first named in Utah in more than 20 years. This granting of official wilderness status arose from an unusual alliance between environmentalists and Utah's Republican politicians, who rarely find themselves on the same side of any issue. The environmentalists wanted to protect the Cedar Mountains for their own sake. The politicians wanted to block a proposed railroad line to the Goshute Indian Reservation, impeding a Goshute plan to gain income by storing nuclear waste produced in other states (Utah has no nuclear power plants). As in all wilderness areas, mechanized equipment is banned within Cedar Mountain's boundaries — including not just trains, but also cars and even bicycles.

Though you can drive around its perimeter, assuming that the rutted dirt roads aren't sloppy with mud or blocked by walls of heaped-up tumbleweed that sometimes reach heights of seven feet, exploring the Cedar Mountain Wilderness Area itself is legal only on foot or on horseback. And once you leave the road — either the perimeter road or one of the two that cross the mountains where passes cut through, it doesn't take long to see that this place would deserve the name "wilderness" even if it weren't official.

Peaks cut a skyline of sharp angles and robust curves, protruding from a central spine that runs almost due north and south. Dry, rocky canyons snake through, opening onto the desert flats that surround the mountain range. Among the clumps of cheatgrass and sage, wildflowers bloom in red, yellow and purple.

ON a day in May, a field of lupine exuded a powerful, honeylike aroma, a red-tailed hawk cruised low and steady, scanning for prey, and 27 ravens swirled in tight formation like a black tornado, either playing in a thermal or circling over a carcass — it's hard to say which. Pronghorn antelopes — big ones — browsed along the base of the mountains and seemed curious when people appeared, holding their ground for a surprisingly long time and letting the humans approach closer than a stone's throw before bounding off with astonishing speed.

"It's just incredible," said Erika Schaumberg, a graphic designer from Washington who was on a Western trip with Phil Satlof, a geographer. "You feel like you have these mountains all to yourself, and you probably do."

The Cedar Mountains have few visitors. In this part of Utah, most people interested in outdoor recreation head for the more dramatic high alpine terrain east of Salt Lake City. And most who do head toward the Cedars drive around them rather than hiking in; they are there hoping to see some of the area's 200 or so wild horses, which graze along the benchlands near the road. Magnificent, muscular animals, these free-roaming mustangs — mostly ink black, smoky gray or chestnut brown — are easy to spot but difficult to approach. Get too close and they spook, turning tail and tossing their manes as they gallop off across the high desert plains. Yet their presence, even from afar, completes the picture of a classic, untamed Western landscape.

Despite the peaceful aura that quickly envelops those who leave their cars behind and hike into the hills, the place has a palpable intensity. More than the snakes and scorpions that dwell there, the most fearsome aspect of the Cedars is their aridity. Water sources are scarce, and the few natural springs either are unreliable or have been piped out of the canyons to fill stock tanks on the flatlands for small herds of cattle. Given the rugged terrain and the heat from May to September, this shortage of water makes multiday backpacking through the Cedars impractical for all but the hardiest of hikers.

Ms. Schaumberg and Mr. Satlof had hoped to backpack through the Cedars but quickly changed their minds once they got there. Instead, they set up a base camp a few hundred yards into the wilderness, carrying gear and water in from their vehicle, and took day hikes in different parts of the mountains. They pitched their tent among juniper trees at the foot of Tabbys Peak, an eye-catching volcanic cone whose slopes are covered in chunks of basalt that look purple in the afternoon light. Nearby is Tabbys Spring, a shallow mudhole that lures wild horses, which regularly trotted right past Ms. Schaumberg and Mr. Satlof's camp.
Cedar Mountains, Utah "It was a perfect solution," Mr. Satlof said. "The hiking here is great, but I wouldn't have wanted to haul a full pack over the mountains only to reach a dry spring."

Their first hike began at Hastings Pass, in the northern end of the range. The road that crosses the mountains there follows a trail first blazed by the Donner Party in 1846 as part of its ill-fated attempt to find a shortcut to California. The pass is nearly 5,800 feet above sea level, and a short walk leads to the top of a serpentine chain of rounded ridges that offer sweeping vistas and tempt hikers with views of the higher peaks farther south.

Among them is Cedar Mountain, the highest peak in the range at 7,713 feet. Ascending it is one of the best day hikes in the wilderness. The easiest approach is up the mountain's western flank, following a series of long, steep ridges in a climb that is strenuous but doesn't require technical skill; it takes about two and a half hours. With each labored step, the hiker sees the desert floor fall away, and the enormous scale of the landscape reveals itself. Wild yellow roses frame views of quartzite pinnacles and burly cliffs. Pink Indian paintbrush speckles the ground. The sun pounds, but its blows are broken by the breeze.

From the top, the views are awesome. The gleaming white salt desert spreads out far, far below, appearing more like ice than like earth. The jagged peaks of the Stansbury Mountains tower to the east, beyond the forbidding-looking and ominously named Skull Valley. Occasionally fighter jets from an Air Force base in Ogden flash over the vast, desolate basin to the west, which is part of the Army's Dugway Proving Grounds. A few conveniently placed trees near the summit offer a shady place for a scenic picnic.

There are no maintained trails leading up the mountain or anywhere else in the Cedar wilderness. Primitive paths beaten by horses, cows and antelopes crisscross many slopes, and vestigial tracks from all-terrain vehicles remain in a few places. Very few signs, even along the roads, indicate locations, directions or points of interest.

"We hope to make the area more user-friendly soon," said Ray Kelsey, outdoor recreation planner at the Bureau of Land Management's Salt Lake City office, "but the wilderness designation is so recent, we've hardly had time to begin."

For now, good maps and an ability to read them — or at least use G.P.S. — are essential. Road maps are useless; much more helpful are the topographical charts produced by the Geological Survey. Those with a scale of 1 to 100,000 are recommended for driving around the range, but for hiking, the more detailed 1-to-24,000-scale maps are preferable. Fortunately for the navigationally unskilled, tree cover in the Cedar Mountains is so sparse that sightlines extend for miles, and there's hardly any chance of becoming lost in a forest. It's relatively easy to stay oriented, though hikers need to make good mental notes of the route they've walked from the car or camp. While the absence of signs and trails makes exploring the Cedars more challenging, it only adds to the sense of being in a wild place.

Dan Washington, also of the Salt Lake office of the Bureau of Land Management, doesn't expect that to feeling to change anytime soon, even if improvements are made. "With the national recognition that comes with being named a wilderness area, a few more people will head to the Cedars, but probably not too many," he said. "You just don't find that kind of solitude in many places these days."
     
     
  #347  
Old Posted Nov 7, 2006, 10:55 PM
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"The $350 million to $400 million mixed-use project, Market Station, would feature 15-17 buildings, some up to 11 stories high, with hundreds of thousands of square feet of retail space and 600 residential units."

That's what i'm talkin about!!! Soon south salt lake will have it's own skyline just south of salt lake's skyline.
Let's keep building up.
     
     
  #348  
Old Posted Nov 8, 2006, 1:17 AM
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Quote:
Originally Posted by delts145
Alright, Are you mocking me?

Hey, I wanted to ask you if your starting to feel a little better about the Jazz this season? Or is it still to early? OR ARE YOU STILL BITTER ?

Jazz are one of the best teams right now in the NBA. Hope they keep wining and make the play offs this season.
Utah Jazz 4-0 1.000 0.0 3-0 0-0 3-0 1-0 4-0 W 4


Go Jazz.
     
     
  #349  
Old Posted Nov 8, 2006, 1:17 AM
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Quote:
Originally Posted by leebuddy
"The $350 million to $400 million mixed-use project, Market Station, would feature 15-17 buildings, some up to 11 stories high, with hundreds of thousands of square feet of retail space and 600 residential units."

That's what i'm talkin about!!! Soon south salt lake will have it's own skyline just south of salt lake's skyline.
Let's keep building up.
Leebuddy, you know a low rise skyline in that area so close to the main skyline will look really cool. Wow, that will really expand the whole feel of the downtown. So, we have a big build-up on the North, and now a build-up further south. And then there's alot of infill all-over. Okay, I'm ready for those 40-50 story towers any time now!!!! Let's put them in the middle, around 400 and 500 south. Where's that World Trade Tower suppose to go again?
     
     
  #350  
Old Posted Nov 8, 2006, 1:21 AM
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Originally Posted by delts145
Leebuddy, you know a low rise skyline in that area so close to the main skyline will look really cool. Wow, that will really expand the whole feel of the downtown. So, we have a big build-up on the North, and now a build-up further south. And then there's alot of infill all-over. Okay, I'm ready for those 40-50 story towers any time now!!!! Let's put them in the middle, around 400 and 500 south. Where's that World Trade Tower suppose to go again?

Delts, i like the way you think. Let's get those 50-story towers!
     
     
  #351  
Old Posted Nov 8, 2006, 2:13 AM
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DIDO!!!! Hey, and I'm totally with ya on the Jazz. "To Hell with bitter- beer-face Jedi"!!!
     
     
  #352  
Old Posted Nov 8, 2006, 4:34 AM
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speaking of the Jazz... I have season tickets. Man, so far they are way worth it.
     
     
  #353  
Old Posted Nov 8, 2006, 1:22 PM
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Post YES!!!!!!!!!!!! PROP 3 PASSES by WIDE MARGIN!!!!!!!!!!!!

Transit measures approved




By Nicole Warburton
Deseret Morning News

Commuter rail from Pleasant View to Provo. New TRAX lines for west-side commuters. Busy roads, widened and improved, and local officials unveil a new commuter rail car.
Voters approved extension of commuter rail. By 2015, residents of Salt Lake and Utah counties could see those options built or under construction. On Tuesday, voters in both counties approved a quarter-cent sales-tax hike that could fund a doubling of the Salt Lake Valley's commuter-rail and light-rail system and fund general road improvements.
In Salt Lake County, the tax hike was known as Proposition 3. It will cost residents an average of $104 a year. In Utah County, the increase was called Opinion Question. It will cost residents about $96 a year.
With 98 percent of the vote counted, Proposition 3 was passing 64 percent to 36 percent. The Opinion Question passed, 69 percent to 31 percent, with 100 percent of the vote counted.
"This is just an extraordinary milestone event for the future of our community," UTA general manager John Inglish said Tuesday. "The public put a lot of faith in us."
During a gathering Tuesday night in Salt Lake City, Inglish, along with business leaders, transit supporters and elected officials from both counties, were relaxed and jovial. By as early as 9 p.m., the group was celebrating victory.
Lane Beattie, president of the Salt Lake Chamber of Commerce, said that the tax increases will allow Utah to compete with Western cities like Denver for business opportunities. "This is very good news for Utah," he said.
Unlike a typical ballot proposition, the Opinion Question and Proposition 3 had no organized opposition. Support came from a broad-based coalition, including environmental activists and elected officials. The Salt Lake Chamber raised more than $700,000 from out-of-state contractors and local developers to promote the two tax hikes.
Jim Bennett ran the campaign in support of the propositions. He said that his biggest challenge was to educate residents about what it meant if they approved the propositions.
"It was shock and awe to some degree," Bennett said about the campaign. "We had a very short time frame and had to get as much (information) out as we could."
In Utah County, 87 percent of the tax money will go to build commuter rail. About 8 percent will go to highway construction, while the remaining 5 percent will fund other transit projects, such as bus rapid transit.
In Salt Lake County, at least one-quarter of the tax increase must go to fund preservation of routes for future roads. Mayors and members of the County Council will decide where the rest of the money goes. Projects have not yet been identified because state lawmakers must approve a process for picking them.
The Legislature's Executive Appropriations Committee is scheduled to meet next Tuesday to debate about the process.
UTA spokesman Justin Jones said Tuesday that depending on how much money his agency receives, work could begin on four TRAX extensions in Salt Lake County as early as next year. Commuter rail construction could begin in 2009, he said.
Still, Riverton resident Dan Canfield said Tuesday that he and his wife voted against Proposition 3. "I think we don't know enough about what they want us to spend our money on," he said.

Last edited by delts145; Nov 8, 2006 at 3:50 PM.
     
     
  #354  
Old Posted Nov 8, 2006, 2:31 PM
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Post

Disney to create games at Salt Lake plant

By Andy Fixmer
Bloomberg News

Walt Disney Co., the world's second-largest media company, is creating a video-game studio in Salt Lake City to make titles exclusively for Nintendo Co., targeting audiences for its animated characters.
The studio, called Fall Line, will be based in Salt Lake and run by Scott Novis, who led the team that created the game based on the Pixar film "Cars." Novis' designers will build games for the Nintendo Wii console to be released this month and the DS and Game Boy handheld players.
Chief Executive Officer Robert Iger said in September that Disney can earn more by developing its own games rather than licensing characters and content. Disney has spent $200 million in the past two years to buy or start game-development studios. The company, based in Burbank, Calif., will spend another $200 million in the next two years, said Graham Hopper, general manager of Disney's Buena Vista Games.
"Disney is naturally set up for video games," said Imran Khan, an analyst with JPMorgan Chase & Co. "It makes sense because of their characters and their content, and because they already have a strong consumer product group, which others like Time Warner and Paramount don't."
Shares of Disney rose 39 cents to close at $32.85 Tuesday on the New York Stock Exchange. They have gained 37 percent this year and are trading at their highest since May 2001.
Buena Vista wants to produce 80 percent of its games internally, Hopper said. Of the games it makes, Buena Vista wants 80 percent based on Disney movies, TV shows or other content.
Fall Line is the fourth game developer Disney has bought or started in the past 19 months. The company has more than tripled its video-game payroll to 600 employees.
In April 2005, Buena Vista bought Salt Lake-based Avalanche Software for undisclosed terms and established a start-up studio in Vancouver called Propaganda Games, led by former executives of Electronic Arts Canada. In September, the company purchased Brighton, England-based Climax Racing, maker of auto-racing games "MotoGP" and "ATV Offroad Fury," for undisclosed terms.
Khan expects Disney to rely less on licensing agreements, such as the accord with publisher THQ Inc. it inherited with the $8.06 billion purchase of Pixar in May. THQ, based in Agoura Hills, Calif., has game rights to the next four Pixar films.
"They are building the capability to do these games on their own," said Khan, who rates the shares "overweight" and doesn't own them.
Disney is releasing a second "Chicken Little" video game for Nintendo's Wii around the same time the console is expected to go on sale this month.
The game follows a formula that Hopper and other Disney executives want to serve as a blueprint for future titles. Designers at Avalanche worked with the film's producers and animators to get scenes that were created entirely for the game.
"That lets us tell a story in the same universe and time frame as the movie," said John Blackburn, Avalanche Software's general manager. "But we can expand the universe in a way that makes better sense for a video game."
Collaboration between designers and animators has grown, Blackburn said. Designers get early access to footage, gaining more time to build a game and make it closer to the movie.
"Before we were with Disney, we wouldn't always get access to the movie team, and because of the lack of trust, they wouldn't let us do things with the character," Blackburn said.
Disney views Nintendo as a natural partner since its users tend to be younger. While Microsoft Corp. and Sony Corp. compete for ardent video game fans with high-end graphics and complex games, Nintendo has made the Wii simple and easy to use with a controller sensitive to motion.
Novis said kids find Xbox and PlayStation games technical and difficult to learn, while they typically can pick up a Nintendo game and start playing quickly. At $250, Nintendo's Wii costs less than the Xbox and PlayStation 3.
"It seems like with our brand, the Nintendo platform is a really good place to put our development effort and focus," Novis said.
     
     
  #355  
Old Posted Nov 8, 2006, 2:57 PM
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Is this article really the full picture?

Yes, the growth of the Wasatch keeps sling-shotting ahead of it's ability to keep up with employment demands. There is now a challenge to keep providing enough workforce for the number of jobs available. This is somewhat of an enviable position to be in.
However, I have read additional articles which talk of a surge in migration from out of state. New residents coming to the Wasatch to fill our, "on fire jobs market." So far this in-migration seems to keep helping the Wasatch to maintain a surging expansion.



Low jobless rate weighs down index

By Jenifer K. Nii
Deseret Morning News
Utah's small businesses continue to struggle to find good workers amid the state's impressive economic environment, according to a report released Tuesday by Zions Bank.
Deseret Morning News graphic The bank's Small Business Index fell to 112.1 in October, from a revised 115.3 in September. The index measures business conditions from the viewpoint of the Utah small-business owner or manager. It uses 100 for calendar year 1997 as its base and includes revisions to various historical or forecast components as they become available. A higher figure is associated with favorable business conditions.
"That (112.1) means, in rough terms, that the outlook for Utah's small businesses is roughly 12 percent higher than in 1997, with 1997 being the base year," said Kendall Oliphant, senior vice president at Thredgold Economic Associates, which prepared the report. "So things are looking better for small businesses now than they were nine years ago. And it's true that things are definitely going well: we have the second-highest job growth rate in the nation, and the second-to-lowest unemployment rate."
The unemployment rate, the most heavily weighted component of the index, registered 2.8 percent according to the state's most recent data, down from the prior month's 3.2 percent. A lower unemployment rate is a negative contributor to the index, because it suggests businesses are facing an increasingly shallow labor pool.
"Small businesses need two main things to perform well: they need customers, but they also need employees," Oliphant said. "When you have an extremely low unemployment rate, it makes it hard to find employees. Although, everything else happening in the economy is making it easy to find customers for most businesses, which is why the numbers stay so high."
Job growth rose 5 percent during the year-over period, according to the latest state data. Job growth is a positive contributor to the index, because it suggests income generation and stronger retail spending.
Utah's hot job market contrasts with data released last week by the U.S. Labor Department, which reported that 92,000 new jobs were created in October, short of analysts' expectations. The nation's unemployment rate was 4.4 percent last month, down from September's 4.6 percent.
Looking ahead, Oliphant said it's unlikely that Utah will be able to sustain its current high growth/low-unemployment environment.
"One of the reasons why job growth will slow somewhat in Utah is because it will be hard to find people to fill positions," Oliphant said. "You can't create a job if there's nobody there to fill it, and that will influence job gains in coming months — exactly how much remains to be seen."
Thredgold Economic Associates also will be keeping an eye on the Federal Reserve, Oliphant said. Sentiment among analysts and economists has shifted from wondering whether the Fed will keep raising interest rates, to when it will start bringing them down to, in recent days, whether it will raise them again.
"There's a lot of uncertainty out there about what the Fed is going to do in the coming months," he said. "We believe it won't do anything through the end of the first quarter of next year. After that, most see (the Fed) dropping rates slightly."


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  #356  
Old Posted Nov 8, 2006, 3:02 PM
alphawolf alphawolf is offline
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Good to hear about Prop3. Congrads.
     
     
  #357  
Old Posted Nov 8, 2006, 6:29 PM
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kpexpress kpexpress is offline
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Any updates on The Hamilton Partners 22 story tower that was SUPPOSED to break ground like two months ago? What the hell?
     
     
  #358  
Old Posted Nov 8, 2006, 9:01 PM
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dewaalnuts dewaalnuts is offline
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planned for beginning of 2007
     
     
  #359  
Old Posted Nov 8, 2006, 11:31 PM
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leebuddy leebuddy is offline
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Location: salt lake city
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Quote:
Originally Posted by kpexpress
Any updates on The Hamilton Partners 22 story tower that was SUPPOSED to break ground like two months ago? What the hell?

They will now break ground in Jan. of 2007. ( in two months ). The building is now only 21-stories, not 22. All i can say is they better breakground this time.
     
     
  #360  
Old Posted Nov 8, 2006, 11:56 PM
rodan rodan is offline
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Location: Downtown SLC
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Quote:
Originally Posted by leebuddy
They will now break ground in Jan. of 2007. ( in two months ). The building is now only 21-stories, not 22. All i can say is they better breakground this time.

Oh man. I hope these extra months and the lds church announcements have added a few floors to it!!!!!!!!!!!!!1
     
     
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