An economic update from Natalie Gochnour, director of the Kem C. Gardner Policy Institute at the University of Utah, presented at the 2019 Utah Economic Summit hosted by Gov. Gary R. Herbert and presented by the Utah Governor's Office of Economic Development in Salt Lake City. #UES2019
2. The Economist Magazine Covers
Kem C. Gardner Policy Institute D A V I D E C C L E S S C H O O L O F B U S I N E S S U N I V E R S I T Y O F U T A H
3.
4. Note: Age topcodedat 85+
Source: U.S.Census Bureau, Vintage 2017 Population Estimates
Generations of Utahns, 2017
Kem C. Gardner Policy Institute D A V I D E C C L E S S C H O O L O F B U S I N E S S U N I V E R S I T Y O F U T A H
Age
Population
5.
6. Source: Kem C. Gardner Policy Institute
Welcome to Utah
Kem C. Gardner Policy Institute D A V I D E C C L E S S C H O O L O F B U S I N E S S U N I V E R S I T Y O F U T A H
7. Source: Kem C. Gardner Policy Institute, U.S. Census Bureau
Kem C. Gardner Policy Institute D A V I D E C C L E S S C H O O L O F B U S I N E S S U N I V E R S I T Y O F U T A H
8.
9. Balance of Wasatch Front = Davis, Utah, and Weber counties; Ring counties = Juab, Morgan, Tooele, and Summit counties
Note: Other includes group quarters, mobile homes, manufactured homes, cabins, accessory dwelling units, and any other dwelling unit type not covered by apartments, condominiums, townhomes, duplexes, or detached single-family homes; regions are mutually exclusive.
Source: Kem C. Gardner Policy Institute analysis of Ivory-Boyer Construction Database data
Apartment Boom in SLC
Composition of building permits for residential units by housing type, 2000–2017
Share of residential building permits
Kem C. Gardner Policy Institute D A V I D E C C L E S S C H O O L O F B U S I N E S S U N I V E R S I T Y O F U T A H
10. Source: Gardner Policy Institute Analysis of Utah Dept. of Workforce Services and U.S. Bureau of Labor Statistics data
The Utah County Effect
States with most robust job growth, Aug 2017 – Aug 2018
Kem C. Gardner Policy Institute D A V I D E C C L E S S C H O O L O F B U S I N E S S U N I V E R S I T Y O F U T A H
11.
12. Source: Kem C. Gardner Policy Institute
Utah tech sector growing at more
than twice the U.S.
Kem C. Gardner Policy Institute D A V I D E C C L E S S C H O O L O F B U S I N E S S U N I V E R S I T Y O F U T A H
13. Source: Kem C. Gardner Policy Institute analysis of U.S. Bureau of Labor Statistics data
Life sciences boom in Utah
Kem C. Gardner Policy Institute D A V I D E C C L E S S C H O O L O F B U S I N E S S U N I V E R S I T Y O F U T A H
14. Source: Kem C. Gardner Policy Institute, U.S. Census Bureau
The shrinking middle class
Kem C. Gardner Policy Institute D A V I D E C C L E S S C H O O L O F B U S I N E S S U N I V E R S I T Y O F U T A H
15.
16. Source: Congressional Budget Office and Office of Management and Budget
Federal Debt Held by the Public
Kem C. Gardner Policy Institute D A V I D E C C L E S S C H O O L O F B U S I N E S S U N I V E R S I T Y O F U T A H
17.
18. Oh mother, where art thou?
Source: National Center for Health Statistics
Total Fertility Rate
Kem C. Gardner Policy Institute D A V I D E C C L E S S C H O O L O F B U S I N E S S U N I V E R S I T Y O F U T A H
19.
20. Multi-family units on par
with single-family units
Source: Kem C. Gardner Policy Institute
Kem C. Gardner Policy Institute D A V I D E C C L E S S C H O O L O F B U S I N E S S U N I V E R S I T Y O F U T A H
21.
22. Source: Kem C. Gardner Policy Institute
Utah’s Draft
Economic
Regions
Kem C. Gardner Policy Institute D A V I D E C C L E S S C H O O L O F B U S I N E S S U N I V E R S I T Y O F U T A H
“Economies don’t follow
political boundaries”
- Juliette Tennert, Chief Economist
23.
24.
25. Sentiments about Utah’s Secret Sauce
“They must
have been
hardworking,
tough
people.”
-Benjamin
Netanyahu, reacting
to a bronze statue
of the Mormon
pioneers on
their trek West.
“[In Utah if]
something's going
wrong in your life,
you're going to have
intensive, kind of
tag-team efforts by
people in your
community to get you
back on track.”
- Megan McArdle, Washington
Post
I’ve learned
the power of
the phrase,
“I need
your help.”
- Derek Miller,
President and CEO,
Salt Lake Chamber
In Utah,
we look at
everybody as
a potential
friend.
-Wes Smith, Western
Governors University
Kem C. Gardner Policy Institute D A V I D E C C L E S S C H O O L O F B U S I N E S S U N I V E R S I T Y O F U T A H
27. Kem C. Gardner Policy Institute D A V I D E C C L E S S C H O O L O F B U S I N E S S U N I V E R S I T Y O F U T A H
Utah Economic Council: One-word summary
