SLC Dept. of Economic Development proves success since mid-2016

Before mid-2016, Salt Lake City had no economic development department. Since then, its new department has worked on projects resulting in 6,214 jobs and $482.9 million in capital investment.

Those figures released recently by the mayor’s office and the Department of Economic Development focus on 15 projects in which the department played a major role since its formation in mid-2016. The project statistics are based on information from the Economic Development Corporation of Utah (EDCUtah).

“When we created this new department, our goal was to ensure the capital city was leading the way to help keep Utah a top destination to do business, while also providing quality jobs for all people,” said Mayor Jackie Biskupski. “These projects were strategically selected to match the assets Salt Lake City brings to the table, and to fit within our city’s long-term goals, including sustainability and upward mobility.”

The report also places the average compensation for the 6,214 jobs at $66,096, with a range between approximately $42,000 and $105,000.

“As the ‘Crossroads of the West,’ home to world-class research universities, and with a well-educated workforce, Salt Lake City has incredible opportunities for economic growth,” said Lara Fritts, the department’s director. “Over the last 18 months, we have worked with EDCUtah and GOED (Governor’s Office of Economic Development) as part of a ‘Team Utah’ approach to ensure we are fully capitalizing on the city’s potential, including the Northwest Quadrant, our arts scene, and the construction of a new airport.”

The Northwest Quadrant will be the site of an Amazon Inc. fulfillment center. Amazon announced the $250 million project last summer and indicated it eventually could have about 1,500 workers.

According to the report, the economic development department played a key role in landing projects in various industries:

• Outdoor recreation: 75 jobs and $17 million-plus in sales, with companies including Assos North America, Big Agnes, Cotopaxi and Rotor Bike Components.

• Retail: 3,000 jobs and $118 million in capital investment, including Amazon.

• Science and medical: 795 jobs and $73.5 million in capital investment, including Biomerics and Stryker.

• Finance and consulting: 55 jobs and $10 million in capital investment, including Cicero and Fifth Partners.

• Shipping and supply: 2,014 jobs and $224 million in capital investment, including UPS, Packsize and Regional Supply.

• Food and beverage: 205 jobs and $57 million in capital investment, including White Wave and Post Consumer Brands.

• Transportation: 70 jobs and more than $10 million in sales, including Eastern Penn Manufacturing Co.

“What we can see is that our efforts are creating what I like to call jobs for all people,” Biskupski said. “These are jobs for individuals with varying levels of skill, with companies that also offer career advancement, education opportunities, and various benefits for employees.”