Local CEO's Cautiously Optimistic

The SL Chamber released the 4th quarter results of the Chamber’s CEOutlook 2018 Q4 survey - a statewide economic survey of Utah business executives. The results are intended to help business and community leaders make informed decisions. The Confidence Index decreased from 60.9 in 2018-Q3 to 55.5 for 2018-Q4, as executives continue to report cautious optimism for the economy. The Index can range from 0 to 100. A score below 50 indicates executives believe the economy will worsen; a score above 50 indicates a belief among executives that the economy will improve. “There is no question that there is more uncertainty facing business, civic and elected leaders. That is why it is essential that we understand that, as business leaders, we can play an active role in defining our future.” said Derek Miller, president of the SL Chamber. 63% of executives report similar economic conditions for Utah’s economy as compared to the previous six months, and nearly one-third of executives note improvement, while trend points to moderating environment. The study also shows that a majority of executives, 67%, anticipate Utah’s strong economy will hold steady in months ahead. Factors that executives believe could have a negative impact on Utah’s economy include the tight labor market, rising housing prices and declining sentiment

Pre-Grand Opening - Stadler Rail

April 17th we had a sneak peak and pre-grand opening event at Stadler Rail's new US corporate headquarters and manufacturing facility. It was so fun to see train cars being completed and a busy office staff working hard to get settled in their new location. It is a beautiful new building and an exciting new chapter for Utah to host such an awesome Swiss Company. Here are a few photos from the event:

Creating Opportunities for Utah - EDCU Site Selectors

EDCU played host to 50 of the globe’s top Site Selector consultants during the first week of April. With sponsors/ community partners, they created a truly “Utah unique” experience that showcased Utah's economic, outdoor rec, food /beverage, & arts/culture assets. But beyond the tremendous assets, they also displayed the essence of #TeamUtah — collaboration. They learned about what’s driving activity - talent, globalization, mega-trends, & other macro forces that are impacting business decisions. They are thinking about the changing landscape of incentives. But they are mostly thinking about people. One of the most prominent consultants told them, “You know the one thing that always stands out about Utah? It’s that the people are honest and true. Our clients have come to rely on it.” It’s hard to quantify some of those “qualitative” features, but hearing the consultant say that was yet another reminder of why it’s important to create opportunities to interface directly w/ consultants & prospects

Completion is near!

Copper Crossing Building 1 is nearing the finish line! As the weather gets warmer and the crews are able to shift their focus to finishing the outside of the building the end of construction is looming ever closer! We are so excited for the start the tenant improvements in building 1 to get it ready for Olive and Cocoa’s new corporate headquarters and distribution center. We anticipate Olive and Cocoa will be able to move into the building in August.

The Industrial Sector Confident Declares: “Plenty of Runway Left”

I read an interesting article recently based on sentiment survey of SIOR members. Here is the synopsis:

All that is good about the industrial marketplace as well as factors that influence it – good equilibrium between supply and demand, the prospect for stable and healthy activity levels, the strength of the economy, and ever-expanding e-commerce – continue to make the U.S. the safest place to put capital, for domestic and international investors alike. Given this performance consistency and in spite of threats that do exist, there is every reason to believe there is plenty of runway left. Excerpted from SIOR REPORT