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This story is sponsored by Utah Valley Chamber. Learn more about Utah Valley Chamber.
On Sept. 16, 2015, some of Utah Valley’s most influential business and community leaders will gather together to discuss some of the most important issues currently facing the valley.
This year, as in years past, the Executive Summit will feature discussions on a variety of topics but three topics are sure to be discussed.
1. Economic forecasts
While the economy continues to struggle throughout the United States, it continues to boom. The 2015 Economic Report to the Governor showed that the Utah economy has remained relatively stable in a number of economic indicators.
More recently, according to the Bureau of Labor Statistics, “In July 2015, nonfarm payroll employment increased in 34 states and decreased in 16 states and the District of Columbia.”
The state with the largest increase? Utah with a 4.4 percent increase.
At the Summit, community leaders will discuss what they anticipate economically for the valley in 2016.
2. Venture Capital Investment
One topic of increasing importance to the Utah Valley is venture capital investment. The Associated Press released statistics that showed that the Provo-Orem area had $462 million invested in tech startups in the first nine months of 2014.
Inc.com points out that the amazing thing is that this amount was invested in just nine deals meaning that the dollar-per-deal average was $51.3 million.
There is no denying the power of venture capital investment in recent years in Utah County. It would appear that this economic engine is still rolling full-speed ahead. For more information about Utah County startups check out BeehiveStartups.com.
3. Community developments
On New Years Day 2015, the Deseret News reported that the state’s population was forecasted to reach 3 million during 2015. An increase in population always calls for developments in the community.
The Utah Valley has several projects already underway that will no doubt be mentioned during the Summit:
a. University Mall upgrade
In February, ground was broken for the $500 million upgrade of University Mall, which will feature a remodel to the existing mall as well as housing, office buildings and a community park.
“University Place is expected to create 4,010 jobs throughout Orem,” KSL reported earlier this year. “…It is estimated the project could bring more than $412 million to the local economy.”
b. Midtown 360
The Midtown Village project has been a long time coming. Originally begun in 2004, the mixed-use development was full of big dreams for the city of Orem but the project developers quickly ran out of money. The uncompleted project sits on State Street and was often referred to as “an eyesore.”
However, last year the Ritchie Group purchased the project and immediately began work to complete what was started over 10 years previous. The project is expected to be completed, tower by tower, within the next five years.
c. The continued rise of Traverse Mountain area
Since the completion of Adobe’s Lehi campus in 2012, Vivint, Xactware, AtTask, Boostability, and Oracle among others have followed, making Traverse Mountain one of the most happening places in Utah Valley.
On the horizon, Harmons has plans to build a grocery store in the area.
There is no doubt that Utah Valley is on the move. Join the conversation at the Executive Summit on Sept. 16, 2015 at Sundance Resort. For more information, click here.