As the pandemic raged through the U.S., no metropolitan area expanded the size of its labor force more than Salt Lake City. It is one of several hubs located far from the coasts that are emerging as beacons to job seekers and businesses.
Only 11 metros in the United States equaled or surpassed their average retail sales growth rates from the previous five-year period. Thirty-five failed to equal the standard growth rates they achieved from 2015 to 2019, with four of them falling 10% below their paces, according to Marcus & Millichap’s 2021 U.S. Commercial Real Estate Outlook.
Economist Natalie Gochnour is director of the Kem C. Gardner Policy Institute at the University of Utah and is an associate dean in the David Eccles School of Business. She has a long history of public service and continues to be a key economic advisor to state political and business leaders.
At 17.6%, Utah had the highest growth rate in the nation over the past ten years, according to new 2020 estimates released by the U.S. Census Bureau.
Along with several other accolades, 2020 may become known as the year that developers capitalized on the potential offered by public investments in transit, associated high-density zoning and Opportunity Zone designation near transit stations along North Temple in Salt Lake City.