Keep Up the Good Work -WVC Economic Development

Over the past few years the City Council has established lofty goals for economic development within the city limits. In order to have a thriving and vibrant City we need to diversify our revenue base and revitalize underutilized areas. By bringing in new businesses and expanding existing businesses both the City's image and the quality of life is greatly improved. Over the past ten years redevelopment project areas have yielded an increase in assessed City value by over $295 million dollars. Even in the past year of shaky economic times the City has been able to attract over 2215 new jobs and an astounding $112 million dollars worth of new capital investment. This new investment adds over 1.1 million dollars worth of sales tax revenue to City coffers which in turn essentially lowers the tax burden of property owners.

Last night members of the City Council and executive staff took a tour of some of the Economic Development sites within West Valley City to see the progress and recent accomplishments. Stops on the tour and highlights of the discussion are listed below with some of the names being withheld to protect ongoing negotiations:


Economic Development Tour
June 28, 2011

1. Fairbourne Station (office)
- Hines Company
- 200,000 sq/ft of class A office (6-8 stories)
- 60% pre-leased by mid-2012
- construction by spring 2013

2. Valley Fair Mall
- frontage road complete by Oct 2011
- eastside development after roadway complete
- front (north) development in 2011
- interior remodel in 2012-13

3. Granger Crossings area
Shops at Decker Lake remodel
- $1,700,000 capital investment
Green Papaya Plaza expansion
- $2,000,000 capital investment
-4 new businesses & restaurant
Saigon Market expansion
- $2,500,000 capital investment
- relocate Twamco
Paras Furniture remodel
Redwood Plaza remodel
Medallion Square
- $1,700,000 capital investment
Glen’s Tire
- $800,000 capital investment
- clean up area
4. Homeland Security office
- $12,000,000 capital investment
- 250 employees

5. Fortune 150 Company (Lake Pointe)
- high-tech support center; relocation to Utah
- $6,000,000 capital investment
- 500 employees (avg. wages $60K)

6. Green River Capital
- financial services company; relocation/expansion from So. Salt Lake
- $1,500,000 capital investment
- 400+ employees


Franklin Covey Campus
Dollar Financial Group
-financial services company; relocation to Utah
-$500,000 capital investment
- 200 employees
Carter Distribution
- distribution services; relocation to Utah
-$3,000,000 capital investment
-80,000 sq/ft; 80 employees
MarketStar
-marketing services; expansion from Ogden
- 50,000 sq/ft; 200 employees

8. Backcountry.com
- outdoor equipment retailer; consolidation/expansion of WVC site
- $2,000,000 capital investment
- 500+ employees retained or added
- $10,000,000 in annual sales at that site

9. Las Vegas Express
- distribution services; relocation to Utah
- $1,500,000 capital investment
- 45,000 sq/ft; 30 new employees

10. Cardinal Health (fortune 150 company)
- medical supply distribution and sales; retention in WVC
- 80 employees
- $10,500,000 in annual sales at that site

11. Intermountain Bobcat
- heavy equipment sales and service; relocation/expansion from Murray
- $3,000,000 capital investment
- 50 employees
- $10,000,000 in annual sales at that site

12. 201 Commerce Center
- “Project Leo” (in final stages of decision)
- manufacturing plant
- $190,000,000 in capital investment
- 2,000+ employees

13. Advanced H2O
- water bottling and distribution; relocation to Utah
- $10,000,000 capital investment
- 80 employees

14. Target
- 135,000 sq/ft store and 100,000+ sq/ft of surrounding retail
- $15,000,000+ capital investment
- $50,000,000 annual sales at that site
- 250 employees
- site prep in July; groundbreaking in Sept.

15. Lake Park Business Center
Legacy Offices at Lake Park
- class A office space
- pursuing several tenants
Hilton Home2 Suites
- $6,000,000 capital investment
- 30 employees
-$6,000,000 in sales at this site
Project X
- high-tech development center; relocation to Utah
-$3,000,000 capital investment
- 400 employees (wages at 150% of county average)

16. Fairbourne Station (hotel, residential)
- $60,000,000 capital investment (hotel & residential)
- hotel groundbreaking July 2011; grand opening fall 2012
- residential groundbreaking spring 2012; grand opening fall 2013