Macey's Blvd: 26,000 ADT Washington

BEN BROWN BRANDON GOODMAN MACEY’S [email protected] [email protected] direct 801.456.8802 direct 801.746.4708 325 EAST 36TH STREET View Profile View Profile SOUTH OGDEN, UTAH 84405 TABLE OF CONTENTS

EXECUTIVE PROPERTY SITE PLAN MAPS DEMOGRAPHICS TENANT 4 SUMMARY 5 FEATURES AND 6 9 12 13 PROFILE LAND OVERVIEW MACEY’S CONFIDENTIALITY MACEY’S AND DISCLOSURE

325 EAST 36TH STREET Mountain West Commercial Real Estate has been retained on an exclusive basis to market the property SOUTH OGDEN, UTAH 84405 described as 325 East 36th Street, South Ogden, Utah 84405. Broker has been authorized by seller of the property to prepare and distribute the enclosed information for the purpose of soliciting offers to purchase from interested parties. More detailed financial, title and tenant lease information may be made available PREPARED BY upon request following the mutual execution of a letter of intent or contract to purchase between the Seller and the prospective purchaser. You are invited to review this opportunity and make an offer to purchase based upon your analysis. If your offer results in the Seller choosing to open negotiations with you, you will be asked to provide financial references. The eventual purchaser will be chosen based upon an assessment BRANDON GOODMAN of price, terms, ability to close the transaction and such other matters as the Seller deems appropriate. [email protected] direct 801.746.4706 The Material is intended solely for the purpose of soliciting expressions of interest from qualified investors View Profile for the acquisition of the Property. The Material is not to be copied and /or used for any other purpose or BEN BROWN made available to any other person without the express written consent of Broker or Seller. The Material [email protected] does not purport to be all-inclusive or to contain all of the information that a prospective buyer may require. direct 801.456.8802 The information contained in the material has been obtained from the Seller and other sources and has View Profile not been verified by the Seller or its affiliates, agents, representatives, employees, parents, subsidiaries, members, managers, partners, shareholders, directors, or officers, makes any representation or warranty regarding such pro forma. Purchaser must make its own investigation of the Property and any existing or available financing, and must independently confirm the accuracy of the projections contained in the pro forma.

Seller reserves the right, for any reason, to withdraw the Property from the Market. Seller has no obligation, express or implied, to accept any offer. Further, Seller has no obligation to sell the Property unless and until the Seller executes and delivers a signed agreement of purchase and sale on terms acceptable to the Seller, in its sole discretion. By submitting an offer, a purchaser will be deemed to have acknowledged the foregoing and agreed to release Seller and Broker from any liability with respect thereto.

Property walk-throughs are to be conducted by appointment only. Contact Broker for additional information.

312 East South Temple l Salt Lake City, UT 84111 l Office 801.456.8800 l www.mtnwest.com 3 EXECUTIVE SUMMARY OPTIONS & ESCALATIONS PRICING ANNUAL % RENT LEASE TERM START EXPIRATION % INCREASE PURCHASE PRICE $7,200,000 RENT BREAKPOINT NET OPERATING INCOME $360,000 INITIAL TERM 5/25/2016 5/24/2026 $360,000.00 CAP RATE 5.00% OPTION 1 5/25/2026 5/24/2031 $378,000.00 5.00% $25,200,000 PRICE PSF $112.31 OPTION 2 5/25/2031 5/24/2036 $396,900.00 5.00% $26,460,000 LEASE INFORMATION OPTION 3 5/25/2036 5/24/2041 $416,739.00 5.00% $27,780,000 TENANT TRADE NAME Macey’s OPTION 4 5/25/2041 5/24/2046 $437,582.28 5.00% $29,175,000 Associated Food LEASE GUARANTOR Stores LEASE SIGNED 5/25/2016 LEASE EXPIRATION 5/24/2026 LEASE TYPE NNN INVESTMENT HIGHLIGHTS LEASE TERM 10 Years 5% Every 5-Years in RENTAL INCREASES MACEY’S GROCERY BOX Options This is a rare opportunity to purchase a new renovated Macey’s Grocery Store (Associated Foods EXTENSION OPTIONS Four, 5-Year Inc.) with a lease with 6-years remaining in the initial term. PROPERTY TAXES Tenant Responsible OPPORTUNITY ZONE INSURANCE Tenant Responsible The property is located in a highly desirable opportunity zone, which provides an investor with UTILITES Tenant Responsible long-term upside potential. MAINTENANCE LONG GROCERY LOCATION HISTORY The subject property has been a grocery store since 1996. PROPERTY INFORMATION 325 East 36th Street, STRONG PARENT COMPANY PROPERTY ADDRESS South Ogden, UT Macey’s is owned by Associated Foods Inc. who owns 34 different brand and over 500 locations. 84405 GROSS LEASABLE AREA (SF) 64,110 RECENT RENOVATION In 2015, Macey’s underwent a $2.8 million dollar renovation that included a $500,000 upgrade to LAND SIZE (AC) 5.75 the exterior façade. YEAR BUILT 1995 HIGH TRAFFIC COUNTS Macey’s is located in a unique position with three separate roads that provide a combined daily traffic counts of 60,000 ADDT (Washington Blvd - 29,000 AADT; 36th Street - 18,000 AADT; Riverdale Road - 13,000 AADT).

MACEY’S 4 312 East South Temple l Salt Lake City, UT 84111 l Office 801.456.8800 l www.mtnwest.com MACEY’S PROPERTY FEATURES & LAND OVERVIEW

PROPERTY DESCRIPTION

LOCATION: FRONTAGE & ACCESS: 325 East 36th Street, South Ogden, The shopping center has 446 feet

E UT of frontage along 36th Street, 695

A feet of frontage along Riverdale

L LAND AREA: E Road, and 635 feet of frontage S Located on the south side of 36th

E I along Washington Blvd. There are K Street between Riverdale Road and Washington Blvd. in South Ogden, four (4) access points to the subject property; one (1) along 36th Street, 36 Utah. TH ST one (1) along Riverdale Road, one (1) LAND AREA: along 37th Street, and one (1) along Consists of 5.75 Acres or 250,470 SF Washington Boulevard. NOT of land area. TRAFFIC COUNTS 2016: A PART D BUILDING AREA: Washington Blvd: 29,000 AADT R E The subject property consists 36th Street: 18,000 AADT L A of 1 retail building totaling Riverdale Road: 13,000 AADT D 5.75 AC R approximately 64,110 SF of gross E YEAR BUILT: IV leasable area. R 1995 NOT PARKING: ZONING: A PART 319 Standard Spaces C2 – Commercial NOT 10 ADA Spaces A PART 329 Total Spaces 5.13/1,000 SF parking ratio

V 37TH ST L

N LAND OVERVIEW

G A

N T

N APN # ADDRESS ACRES SF

R S

W 325 East 36th 5.75 051660001 64,110 Street Acres

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312 East South Temple l Salt Lake City, UT 84111 l Office 801.456.8800 l www.mtnwest.com 5 SITE PLAN 36th St: 18,000 ADT 3 6 T H S T R E E T

This exhibit is provided for illustrative purposes only, and shall not be deemed to be a warranty, representation or agreement by Landlord that the Center, Common Area, Buildings and/or Stores will be as illustrated on this exhibit, or that any tenants which may be referenced on this exhibit will at any time be occupants of the Center. Landlord reserves the right to modify size, configuration and occupants of the Center at any time. CCA-Acquisition Company, LLC 5670 Wilshire Blvd., Suite 1250 Los Angeles, CA 90036 (323) 965 - 1510 - Phone (323) 956-1520 - Fax

CERTAIN ELEMENTS ON THIS PLAN MAY BE INDICATED AS "FUTURE OR PROPOSED". 3,000 SF CCA ACQUISITION COMPANCY, LLC. MAKES NO REPRESENTATION THAT THE FUTURE DEVELOPMENT WILL OCCUR AS SHOWN.

R I V E R D A L E R O A D Shops Not a Part

KFC/A&W Not a Part

Existing Center Sign

Riverdale Road: 13,000 ADT Existing Center Sign Center Existing

Papa Murphy's 1,800 SF Not a Part Budget Car Rental Shops Not a Part Chuck a Rama Available 4,780 SF Not a Part

Smokers Choice Macey's Blvd: 26,000 ADT Washington

1,200 SF 64,110 SF W A S H I N G T O N B L V D D V L B N O T G N I H S A W Available 1,500 SF

Shops

Not a Part

OGDEN, UTAH OGDEN,

36TH STREET 36TH RIVERDALE ROAD & 36TH STREET 36TH & ROAD RIVERDALE

Not a Part TITLE: SKETCH PLAN N SITE PLAN SHEET NUMBER: 0' 35' 70' SK-01 MACEY’S 6 312 East South Temple l Salt Lake City, UT 84111 l Office 801.456.8800 l www.mtnwest.com MACEY’S

312 East South Temple l Salt Lake City, UT 84111 l Office 801.456.8800 l www.mtnwest.com 7 PROPERTY PHOTOS FACING NORTH FACING WEST FACING SOUTHWEST

TT MAP E

S A 5 2 S DT 31 E A V 0 E LY ST 00 E HEA 9, R B W ST T S 31S 3175

A E E EB 32ND ST V V 4 ADT 1ST ST ,100 ADT 00 3 A 26,0 S A 265 3 SEL

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DEMOGRAPHICS

POPULATION BUFFERS - 1, 3, 5 MILES Farr West

PIO Harrisville NEE R RD 1 MILE 3 MILES 5 MILES 400 N 11,246 87,020 171,965 Marriott-Slaterville

D 0 2ND ST V

2018 EST. 2018 EST. 2018 EST. E

1 B

N D POPULATION POPULATION POPULATION L O N L V O T Y L A

B AN

W C

N I E N 1200 S 12TH S E T H

O D S R C G A 5 MO iles

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E 24TH ST V W Ogden AVERAGE HOUSEHOLDS & INCOME 2550 S A 0 IA

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1 N 30TH ST

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1 MILE 3 MILES 5 MILES 1ST ST 1 Mile S DR 3 I

D R N R 3,822 31,393 59,611 A Y D R L E A D KL I HINC H 2018 EST. 2018 EST. 2018 EST. M ^^ 36TH ST R 4000 S E HOUSEHOLDS HOUSEHOLDS HOUSEHOLDS N 40TH ST N U R Riverdale T N

R F +89 , 4800 S

W 1 MILE 3 MILES 5 MILES Roy 0 5 0 Washington $61,541 $68,584 $71,437 1 South 5500 S Terrace

W 2018 EST. 2018 EST. 2018 EST. 5600 S Ogden E B INCOME INCOME INCOME ER H D W R %84 &' Y Hooper 8 Sunset 9 2300 N E

0 Uintah

0 1800 N

Clinton

N S T 1300 N I OU H WEB

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800 N South Weber B

West 0 Clearfield 0 Y

300 N 0

Point 1

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MACEY’S 14 312 East South Temple l Salt Lake City, UT 84111 l Office 801.456.8800 l www.mtnwest.com MACEY’S ANCHOR TENANT PROFILE

In 1947, Walt Macey and Dale A. Jones started the “Save-A-Nickel-Market” in Rose WEBSITE Park, Utah. From these humble beginnings, Macey’s grew from a small store into WWW.MACEYS.COM a multi-store chain by providing personalized service and genuine old-fashioned friendliness. After being purchased by Associated Food Stores in 1999, Macey’s OWNERSHIP continued to be a destination for thousands of Utah families looking for a great deal PRIVATE on groceries along with a delicious soft serve ice cream cone. And for those brave enough to try it, the now famous Kong Kone, a soft serve ice cream that reaches nearly LOCATIONS one foot tall, is one of the most talked about treats for ice cream lovers everywhere. 13 Macey’s now serves the communities of Logan, Ogden, Clinton, West Jordan, Sandy, Orem, Provo, Spanish Fork, Lehi, Pleasant Grove, Providence and Tooele. They are one HEADQUARTERS of the banner stores under Associated Food Stores, Inc. SANDY, UTAH

Associated Food Stores, Inc., headquartered in Salt Lake City, Utah, is cooperatively WEBSITE owned wholesale distributor to almost 500 independently owned supermarkets in eight WWW.AFSTORES.COM state region. Since its organization in 1940, Associated Foods Stores has not only delivered groceries OWNERSHIP to its independent members, but has also helped them battle national chains and PRIVATE Associated razor-thin profits. With the assistance of Associated Food Stores, independent retailers Food Stores have become exeptional supermarkets turning in respectable profits. LOCATIONS 500+ Indusrty headlines today read in much the same fashion as they did 60 years ago. Large chain stores were forcing the small independent grocers out of business. The stores HEADQUARTERS that weren’t bought up by the chains were coerced to buy groceries from suppliers at SALT LAKE CITY, UTAH a more expensive cost because they didn’t have the buying power of the chains. The big chains illegally compelled the suppliers to sell at a higher price to the independent operators by threatening to pull their business if the suppliers didn’t comply. As a result, the independent stores had inadequate and unreliable sources of supply and no one to defend their cause. Early in 1940, Donald P. Lloyd, who was president of the Utah Retail Grocers Association, predicted impeding doom for the independent retailers unless they could unite to take on the competition and increase their collective buying power. He persuaded 34 retailers to contribute $300 each to help organize an independent warehouse, and Associated Food Stores was born. One by one the problems of unfair and illegal trade prectices, under capitalization and competitive conspiracy were surmounted. Today, Associated Food Stores champions the cause of independent supermarket owners and is the only independent wholesale distributor headquartered in the Intermountain West.

312 East South Temple l Salt Lake City, UT 84111 l Office 801.456.8800 l www.mtnwest.com 15 WHY UTAH?

• Utah Best State in Mountain Region for Workforce Development (1/2020) • 10 Categories Where Utah Claims #1 (best private-sector job growth, best state for entrepreneurs, best performing large system, best state for upward mobility, best state for the middle class, number of dark sky parks, children per capita, densest concentration of Jurassic-era dinosaur bones, tallest mountain peaks, Most volunteers) (9/2019)

• More Millenials Call Utah Home Than Any Other State (7/2019)

• Utah Among the Best States for Business (9/2019)

• Utah in the Top Five Best States According to U.S. News & World Report (5/2019)

#1 BEST STATE FOR #3 BEST STATE ENTREPRENEURS FOR BUSINESS

2019 2019

#1 BEST STATE FOR #4 BEST STATE ENTREPRENEURS FOR BUSINESS 2019 2019 COST OF LIVING INDEX % BUDGET SPENT ON EDUCATION 100.8 40% UTAH UTAH 100.0 29% NATIONAL NATIONAL C2ER, Q3 2018 US CENSUS, 2015

CORPORATE TAX GDP GROWTH 4.95% 3.8% UTAH UTAH 6.87% 4.2% NATIONAL NATIONAL TAX FOUNDATION, 2018 BEA, Q2 2018

JOB GROWTH POPULATION GROWTH 2.8% 14.4% UTAH UTAH source: EDCUtah 1.7% 6.0% NATIONAL NATIONAL DWS, FEB 2019 US CENSUS, 2010-2018

MEDIAN WAGE MEDIAN AGE $36,790 31 UTAH UTAH $38,640 38.1 NATIONAL NATIONAL BLS, MAY 2018 US CENSUS, ACS 2017 source: EDCUtah 2020 UTAH OUTLOOK

“The Utah economy continues to prosper. Like the nation, the state’s decade- long economic expansion became the longest on record in 2019. Every major industrial sector expanded over the last year, adding 45,600 new jobs to the economy. The annual employment growth rate of 3.0 percent in 2019 was at the state’s long-term average and among the strongest in the nation. Fueled by record-level residential and near-record commercial activity, Utah’s construction sector added 4,500 jobs and posted the state’s fastest pace of job growth in 2019, 4.3 percent. The boom in the multifamily sector, primarily apartment construction, drove a 10.9 percent increase in the value of all permit-authorized residential construction to $5.7 billion. The value of permitauthorized nonresidential construction grew 6.2 percent in 2019 to $2.3 billion, the highest posting since 2016’s $2.7 billion. Low unemployment and rising wages for Utahns, along with an increase in travel and tourism activity, supported strong job growth of 4.1 percent in the state’s leisure and hospitality sector over the past year. Above-average snowfall and an extended 2018-2019 ski season led to a record $1.4 billion in skier spending. With increased marketing emphasis on places to visit in addition to the Mighty 5® national parks, Utah’s state parks hosted a record number of visitors in 2019. Utah’s population grew by 53,600 to reach 3.2 million in 2019. About 47 percent of this growth came from net in-migration as people moved to the state to take advantage of economic opportunity. Natural increase continued to generate the majority of growth, 53 percent, despite births dropping to the lowest level since 2000. The consensus forecast predicts increasing uncertainty and moderation, but still healthy growth for the Utah economy. Internal risks in 2020 and beyond include a tight labor market, increasing costs, housing affordability, declining fertility rates, and air quality. Externally, a late U.S. business cycle, trade tensions, and geopolitical instability add risk to the forecast. State tax cuts and infrastructure spending present an upside risk for the 2020 Utah economy. Favorable demographics, a supportive business climate, and economic diversity will continue to advantage the economy. As long as major risks to the national expansion are not realized, Utah’s economy will once again be one of the top performing economies in the nation in 2020.” Source: 2020 Economic Report to the Governor by the Utah Economic Council

18 UTAH ECONOMIC OUTLOOK 2019: Ten years of economic expansion 2020: Uncertainty and moderation, but still healthy growth

national parks, Utah’s state parks hosted a record number of Internal risks in 2020 and beyond include a tight labor market, visitors in 2019. increasing costs, housing affordability, declining fertility rates, and Utah’s population grew by 53,600 to reach 3.2 million in 2019. air quality. Externally, a late U.S. business cycle, trade tensions, and About 47 percent of this growth came from net in-migration geopolitical instability add risk to the forecast. as people moved to the state to take advantage of economic State tax cuts and infrastructure spending present an upside opportunity. Natural increase continued to generate the majority risk for the 2020 Utah economy. Favorable demographics, a of growth, 53 percent, despite births dropping to the lowest level supportive business climate, and economic diversity will continue since 2000. to advantage the economy. As long as major risks to the national The consensus forecast predicts increasing uncertainty and expansion are not realized, Utah’s economy will once again be one moderation, but still healthy growth for the Utah economy. of the top performing economies in the nation in 2020.

Utah Value of New Construction, $ millions Utah National Park and Skier Visits, millions

$10,000 $10,000 ResidentialResidential NonresidentialNonresidential 1212 NationalNational Park Park Visits Visits Additions/Alterations/RepairsAdditions/Alterations/Repairs TotalTotal Value Value Skier Skier Days Days

1010 $8,000 $8,000

8 8 $6,000 $6,000

6 6 $4,000 $4,000

4 4

$2,000 $2,000 HACHMAN INDEX OF ECONOMIC2 2 DIVERSITY $- $- 0 0 According to the Hachman Index, a measure of economic diversity, Utah and Missouri led the nation in economic diversity 2000 2000 2001 2001 2002 2002 2003 2003 2004 2004 2005 2005 2006 2006 2007 2007 2008 2008 2009 2009 2010 2010 2011 2011 2012 2012 2013 2013 2014 2014 2015 2015 2016 2016 2017 2017 2018 2018 2019 2019 20092009 20102010 20112011 20122012 20132013 20142014 20152015 20162016 20172017 20182018 2019*2019* in 2018 with scores of 97.1 and 96.8, respectively, based on gross domestic product by industry. A higher score, closer to *2019 skier days will be released in June 2020. Skier days include season that begins with 100, indicates more economic diversity. A timely yearexample shown (e.g. of 2018 the = advantage 2018-2019 ski season). of diversity is the impact of globalization and tariffs on state economies. Those states with employment concentrations in auto, textiles, or steel production experienced severe job losses. In contrast, Utah’s economic diversity provided added protection from the negative impacts of tariffs. Hachman Index of EconomicSource: Diversity 2020 Economic Report WA to the Governor by 85.1 According to the Hachman Index, a MT MEOR the Utah Economic Council ND 91.0 measure of economic diversity, Utah 83.2 49.0 MNMN VTVT 89.4 OROR 94.0 94.0 NNHH 94.5 and Missouri led the nation in economic 93.493.4 ID WI NY 82.3 SD WI MAMA 89.4 89.4 91.5 MI 79.1 diversity in 2018 with scores of 97.1 and WY 60.7 91.5 91.2MI RRII 89.1 32.0 91.2 96.8, respectively, based on gross domestic IA PAPA CTC T 91.0 NE 95.7 NV 75.8 OH NNJJ 93.8 product by industry. A higher score, closer 73.0 IL 67.5 UTUT IL IN 93.693.6 95.5 MDMD 88.3 88.3 97.197.1 COCO 95.5 76.5 WV to 100, indicates more economic diversity. KS VA DEDE 56.0 56.0 CA 93.293.2 KS MO 64.1 CA 92.4 KY 89.1 A timely example of the advantage of 92.8 92.4 96.8 89.6 DCDC 48.9 NCNC diversity is the impact of globalization TN 93.5 AZAZ 93.5 OK 92.192.1 96.0 AR SC and tariffs on state economies. Those 96.0 NM 47.7 SC 88.1 91.0 60.1 91.0 states with employment concentrations MS AL GAGA Hachman Index Index Score Score 86.3 90.6AL 95.995.9 95.0 + + (Most (Most Diverse) Diverse) in auto, textiles, or steel production 90.6 TX LA 90.0-94.990.0 - 94.9 73.6 experienced severe job losses. In contrast, 83.9 FL 85.0-89.985.0 - 89.9 AK 92.0 Utah’s economic diversity provided added 33.8 FL 75.0-84.975.0 - 84.9 92.0 protection from the negative impacts of < 75.0 (Least (Least Diverse) Diverse) HIHI tariffs. 72.2

Note: All 2019 data is estimated. Sources: Kem C. Gardner Policy Institute; U.S. Bureau of Labor Statistics; U.S. Bureau of Economic Analysis; U.S. National Park Service; Ski Utah; Utah Economic Council; U.S. Census Bureau; and Utah Population Committee.UTAH RANKINGS

Demographic State Rank3 Value Year Economic State Rank3 Value Period

Population Growth Rate 3rd 1.9% 2018 Employment Change1,2,4 2nd 2.7% HighlightsAugust -19 Annual

Total Fertility Rate 2nd 2.12 2017 Unemployment Rate1,2 8th 2.8% August -19 Life Expectancy 10th 80.2 2010 Median Household Income 7th $77,067 2018 Median Age 1st 31.0 2018 Per Capita Personal Income 41st $45,340 2018 Household Size 1st 3.13 2017 Total Personal Income (% Change) 14th 4.4% Q1-19 Annual Social Indicators Notes: 1. Rankings are based on the most recent data available for all states; may Poverty Rate 6th 9.7% 2017 differ from other data. Educational Attainment 2. Job growth and unemployment rates are based on seasonally adjusted data from the Bureau of Labor Statistics and may differ from estimates published Persons 25+ w/high school degree 10th 92.1% 2017 by other sources. Persons 25+ w/high school degree 12th 34.6% 2017 3. Rank is most favorable to least favorable. 4. Employment change based on nonfarm employment totals. Source: 2019 September Economic Summary by the Kem C. Gardner Policy Institute at the University of Utah

312 East South Temple l Salt Lake City, UT 84111 l Office 801.456.8800 l www.mtnwest.com 19 2020 Economic Report to the Governor

The Utah economy continues to prosper. Like the nation, the drove a 10.9 percent increase in the value of all permit-authorized state’s decade-long economic expansion became the longest on residential construction to $5.7 billion. The value of permit- record in 2019. Every major industrial sector expanded over the authorized nonresidential construction grew 6.2 percent in 2019 to last year, adding 45,600 new jobs to the economy. The annual 2019$2.3 billion, JOB the highest GROWTH posting since 2016’s $2.7 billion. employment growth rate of 3.0 percent in 2019 was at the state’s Low unemployment and rising wages for Utahns, along with an long-term average and among the strongest in the nation. “Utah’sincrease economy in travel continued and tourism to grow inactivity, 2019. While supported national gainsstrong were job modest, growth Utah remained among Fueled by record-level residential and near-record commercial theof 4.1 fastest-growing percent in states. the state’s The state leisure posted and yearover-year hospitality job sector growth over at 3.0%, the near double the national activity, Utah’s construction sector added 4,500 jobs and posted increasepast year. of 1.6%. Above-average This corresponds snowfall to more and than an 45,600 extended jobs added 2018-2019 to Utah’s economy. ski In 2019 the Economic Development Corporation of Utah and the Utah Governor’s Office of Economic Development MiningMining 200200 2.1 2.1 evadaevada 3.33.3 the state’s fastest pace of job growth in 2019, 4.3 percent. The workedseason together led to ato record support $1.4 42 companies billion in to skier relocate spending. or expand With in Utah, increased adding over 9,500 jobs to the onstructiononstruction 4,5004,500 4.3 4.3 boom in the multifamily sector, primarily apartment construction, state’smarketing UtaheconomyUtah emphasis and retaining on places over 3,500 to visitadditional in addition jobs. These to thecompanies Mighty3.03.0 made 5® capital investments in ManufacturingManufacturing 4,5004,500 3.4 3.4 Utah totaling more than $500 million.” Mining 200 2.1 ArizonaArizonaevada 2.62.6 3.3 Trade,Trade, Trans., Trans., Utilities Utilities 6,2006,200 2.2 2.2 Source: 2020 Economic Report to the Governor by the Utah Economic Council onstruction 4,500 4.3 Utah Employmentnformationnformation Growth, 1,400Level1,400 3.6 3.6 and Percent, 2018–2019 StatesFloridaFloridaUtah with Strongest Job Growth, 2018–20192.52.5 3.0 Manufacturing 4,500 3.4 STATES WITH THE STRONGEST JOB GROWTH 2018-2019 +45,600 jobsFinancialFinancial Activity Activity 2,4002,400 2.8 2.8 WashingtonWashingtonArizona 2.52.52.6 Trade, Trans., UtilitiesMining 200 2.1 6,200 2.2 evada 3.3 rofessionalrofessional usiness usiness ervices ervices 8,2008,200 3.8 3.8 dahodaho 2.42.4 onstructionnformation 1,400 3.6 4,500 4.3 Florida 2.5 EducationEducation ealth ealth ervices ervices 6,1006,100 3 3 Utah 3.0 FinancialManufacturing Activity 2,400 2.84,500 3.4 WashingtonTexasTexas 2.52.5 LeisureLeisure ospitality ospitality 6,1006,100 4.1 4.1 Arizona 2.6 Trade, Trans., Utilities 6,200 2.2 rofessional usiness ervices 8,200 3.8 outhouth akota akotadaho 2.12.1 2.4 therther ervices ervices 1,1001,100 2.7 2.7 Florida 2.5 Education ealthnformation ervices 1,400 3.6 6,100 3 GovernmentGovernment 4,9004,900 2 2 U..Texas U.. 1.61.6 2.5 LeisureFinancial ospitality Activity 2,400 2.8 6,100 4.1 Washington 2.5 outh akota 2.1 rofessional usinessther ervices 1,100 2.7 8,200 3.8 daho 2.4 Education ealthGovernment ervices 6,100 3 U.. 1.6 4,900 2 Texas 2.5 Leisure ospitality 6,100 4.1 outh akota 2.1 ther ervices 1,100 2.7 Government 4,900 2 U.. 1.6 80,00080,000 etet Migration Migration aturalatural ncrease ncrease Government,Government, 16.2 16.2 Mining,Mining, 0.6 0.6 Utah Componentsopulationopulation hangeof hange Population Change thertherTotal ervices, ervices, Share 2.7 2.7 of Utah Jobs by Sector, 2019 onstruction,onstruction, 7.0 7.0 60,00060,000 2019 BUSINESS CLIMATE 80,000 et Migration LeisureLeisure Manufacturing,Manufacturing, 8.8 8.8 atural ncrease Government,ospitality,ospitality, 9.9 16.2 9.9 Mining, 0.6 40,00040,000 opulation hange “Utah’sther ervices, young, 2.7 educated workforce20192019 continues total total to grow, state onstruction,and local governments 7.0 remain fiscally 60,000 responsible and stable, and the jobcostjob countof count doing business remains lower than the national average. Utah continuesLeisure to receive recognition as a leading global businessManufacturing, destination, 8.8 enjoying accolades 20,00020,00080,000 et Migration EducationEducation ealth ealth fromGovernment,ospitality, national 16.2 9.9sources like Forbes,1.561.56 which million million has ranked Utah theTrade,Mining,Trade, #1 Trans.,Best Trans., 0.6 State for Business in six of 40,000 atural ncrease ervices,ervices, 13.4 13.4 2019 total Utilities,Utilities, 18.7 18.7 opulation hange thether past ervices, nine years2.7 and second in 2018. In November, Forbesonstruction, also named 7.0 Utah the Best State for 60,0000 0 Entrepreneurs in 2020. Utah also rankedjob count fourth on CNBC’s “America’s Top States for Business 2019.” 20,000 FactorsEducationrofessional rofessionalthatLeisure ealthcontribute to this ranking1.56 includemillion the economy, Manufacturing,Trade,high qualityTrans., of 8.8 life, business friendliness, andospitality, qualityervices, usiness usiness infrastructure.” 13.4 9.9 nformation,nformation,Utilities, 18.7 2.5 2.5 40,000 -20,000-20,000 ervices,ervices, 14.4 14.4 2019 total FinancialFinancial Activity, Activity, 5.8 5.8 Source: 2020 Economic Report to the Governor by the Utah Economic Council 0 job count 1980 1980 1982 1982 1984 1984 1986 1986 1988 1988 1990 1990 1992 1992 1994 1994 1996 1996 1998 1998 2000 2000 2002 2002 2004 2004 2006 2006 2008 2008 2010 2010 2012 2012 2014 2014 2016 2016 2018 2018 rofessional 20,000 Education UTAH ealth ECONOMIC OUTLOOK Trade, Trans., 20 usiness 1.56 million nformation, 2.5 ervices, 13.4 Utilities, 18.7 -20,000 ervices, 14.4 Financial Activity, 5.8 0 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 rofessional usiness nformation, 2.5 -20,000 ervices, 14.4 Financial Activity, 5.8 Utah Annual Job Growth History Utah International Exports, $ billions 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 8.08.0 3.03.0 long-term long-term average average $20$20 $19.0$19.0$19.3$19.3 GoldGold AllAll ther ther ommodities ommodities $17.4$17.4 6.06.0 $16.1$16.1

8.0 3.0 long-term average $15$20$15 $19.0 $19.3 $14.4$14.4 4.04.0 $13.8$13.8 Gold$13.3$13.3All ther ommodities $12.2$12.2 $17.4 $12.1$12.1$11.6$11.6 2.06.02.0 $16.1 $10$15$10 $14.4 0.04.08.00.0 3.0 long-term average $20 $13.8 $19.0 $19.3 $13.3 $12.2Gold All ther ommodities $12.1 $11.6 $17.4 -2.0-2.02.06.0 $16.1 $5$10$5 0.0 $15 $14.4 -4.0-4.04.0 $13.8 $13.3 $12.2 $12.1 -2.0 $11.6 -6.0-6.02.0 $0$5$0 $10 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 -4.00.0 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 20102010 20112011 20122012 20132013 20142014 20152015 20162016 20172017 20182018 20192019

-6.0-2.0 2020 Economic Report to the Governor $0$5 -4.0 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

-6.0 $0

1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2019 TRENDS

Utah’s strategic industry clusters employed over 258,000 Utahns in 2019, up from 247,000 in 2018, demonstrating 4.2% growth. Utah’s industry clusters include aerospace and defense, energy and natural resources, financial services, life sciences, outdoor products, and software development and information technology. Utah-based companies raised $998 million in venture capital in 2018. Strong investment activity continued in 2019, with companies raising over $1.2 billion as of November 19th. Utah also saw nearly $9.3 billion worth of mergers and acquisitions by November 19, 2019.

*Source: 2020 Economic Report to the Governor by the Utah Economic Council

UTAH EMPLOYMENT GROWTH, LEVEL AND PERCENT 2018–2019

+45,600 jobs Mining 200 (2.1%) Construction 4,500 (4.3%) Manufacturing 4.500 (3.4%) Trade, Trans., Utilities 6,200 (2.2%) Information 1,400 (3.6%) Financial Activity 2,400 (2.8%) Professional & Business Services 8,200 (3.8%) Education & Health Services 6,100 (3%) Leisure & Hospitality 6,100 (4.1%) Other Services 1,100 (2.7%) Government 4,900 (2%)

*Source: 2020 Economic Report to the Governor by the Utah Economic Council

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