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11.25.2019 Display.Indd www.slenterprise.com November 25, 2019 Volume 49, Number 19 $1.50 OF NOTE Amazon tech arm bringing 300 jobs to Utah erations will focus on advanced manufac- The nearly $2.5 million tax credit, ap- Brice Wallace turing of internal components. GOED doc- plicable over a 10-year period, is tied to the The Enterprise uments indicate the company is considering creation of 300 jobs, which will pay an av- one site in West Valley City and three in erage of $104,000 per year. The project’s An Amazon subsidiary will expand its Salt Lake City for the $25.3 million project. new wages are projected at about $304.3 operations in Utah and will create 300 jobs Amazon Web Services provides on- over the next decade. demand cloud computing platforms to indi- Amazon Web Services (AWS) made viduals, companies and governments. One see AMAZON page 3 the announcement after being approved for of these services is Amazon Elastic Com- a tax credit incentive by the Governor’s Of- pute Cloud, which allows users to have a fi ce of Economic Development (GOED) virtual cluster of computers through the In- board at the board’s November meeting. ternet. Amazon Web Services is implement- A company representative said the op- ed throughout the world at server farms. Unemployment What'll you have? You're unlikely to see it in goes down to Utah right away, but Pabst Blue Ribbon has introduced its 99-pack beer carton in a number 2.5% in Utah of Midwestern states. Retailing If you want a job in Utah, you should for about $175, the unique pack- be able to fi nd one because the state’s em- ployers just keep putting people to work. aging requires you and at least Utah’s unemployment rate dropped another one friend to get it into the car for two-tenths of a percent last month, accord- the trip to the party. ing to numbers released by the Department Industry News Briefs of Workforce Services (DWS). The current pages 6-7 rate is 2.5 percent, meaning about 41,000 people are still looking for jobs. Business Calendar Meanwhile, the national jobless rate page 9 rose one-tenth of a point to 3.6 percent. Over the past year, Utah’s nonfarm Opinion payroll employment has grown by 3.3 per- page 12 cent, adding 51,200 jobs to the economy The second season of "High School Musical: The Musical: The Series" will shoot at East High since October 2018. Utah’s current em- School and other parts of Salt Lake City next year. Recently approved to receive an incentive to ployment level sits at 1,593,200. shoot in Utah, the series production is expected to spend nearly $24.4 million in the state. “October is the springboard month for the upcoming holiday shopping season,” said Mark Knold, chief economist at the DWS. “October’s profi le helps gauge the 'High School Musical' back in Utah consumer’s stance entering this important production’s expected spending of nearly economic period. Utah’s current strong Brice Wallace $24.4 million in Utah. numbers point to an anticipated collective- The Enterprise The fi rst season of the show premiered ly healthy and positive attitude.” on Disney+ earlier this month. Shooting for Utah’s private-sector employment The state of Utah, Salty Pictures Inc. the 10-episode second season is expected to grew by 3.7 percent year-over-year with the and Disney will continue to make beautiful take place Feb. 12-July 19 in Salt Lake City addition of 47,400 positions. Once again, economic music. and involve 30 cast members, 160 crew all 10 of the private-sector major indus- The second season of “High School members and 3,254 extras. try groups measured in the establishment Musical: The Musical: The Series” will The show tells the story of students at survey posted net job increases in Octo- shoot in Utah next year, continuing a string East High School focusing on their next per- ber. The largest private-sector employment of “High School Musical” productions shot formance in the upcoming spring musical. increases were in professional and busi- in the state since 2005. It was created and is executive-produced by ness services (11,000 jobs), education and Salty Pictures Inc. was approved for tax Tim Federle (“Ferdinand”). The director is health services (9,600 jobs) and construc- credit incentive of up to $6 million by the Joanna Kerns. Producers are Barry Rosen- tion (6,900 jobs). The fastest employment Governor’s Offi ce of Economic Develop- growth occurred in construction (6.4 per- ment (GOED) board at the board’s Novem- cent), information (5.1 percent) and profes- see MUSICAL page 4 ber meeting.AFCU-Business-Strip.pdf The incentive is based 1 5/7/19on the 5:02 PM sional and business services (5.1 percent). C M Y CM 1-877-AFCUBIZ MY americafirst.com CY Federally insured by NCUA CMY K 2 • Nov. 25-Dec. 1, 2019 • The Enterprise - Utah's Business Journal Tourism means $9.75B in revenue, $1.28B in taxes and 136,000 jobs Travelers to Utah spent a of the Eccles School of Busi- tional park visits and a decline in lion for the fi rst time ever in 2018, and ski resorts experienced record record $9.75 billion in the state ness at the University of Utah. Chinese visitor spending, Utah’s a 5.5 percent year-over-year in- visitation in 2018. in 2018 and generated an esti- Approximately 1 in 11 Utah travel and tourism economy had crease. However, average state- The full report can be ac- mated $1.28 billion in total state jobs is now supported by visi- another banner year in 2018,” wide hotel occupancy rates and cessed online at https://gardner. and local tax revenue, according tor spending, either directly or said Jennifer Leaver, senior tour- daily room rates remained fl at. utah.edu/wp-content/uploads/ to a recent study released by the indirectly, the study found. ism analyst at the institute and The report also found that Travel-and-Tourism-Report-Nov Kem C. Gardner Policy Institute “Despite decelerating na- lead author of the report. “Utah Utah’s national parks, state parks 2019.pdf. visitors are discovering and ex- ploring the stunning attractions that exist outside of and in be- tween our national parks.” The report found that the record $9.75 billion that visitors spent in the Utah economy in 2018, was a 6.5 percent increase over the previous year. Utah’s travel and tourism in- dustry accounted for an estimat- People’s Intermountain ed 136,000 total jobs in 2018, a 5.4 percent year-over-year in- crease. Approximately 1 in 11 changes name to Altabank Utah jobs is supported by visitor People’s Intermountain Bank, which has been operating spending, either directly or in- as Bank of American Fork, Lewiston State Bank and People’s directly, the report said. Private Town and Country Bank, has announced that it is changing its travel and tourism-related em- name to Altabank. The rebranding unifi es the different operat- ployment sectors experienced ing units into a single name, clarifying the bank’s mission and healthy year- over-year wage market position, the company said. increases, too. Passenger air industry wages increased 10.5 “We are the largest community bank headquartered in Utah percent, food service wages in- but having different names for each operating unit gave our cus- creased 7.8 percent and wages tomers a different impression and often led to confusion,” said in the accommodations sector Len Williams, CEO of People’s Utah, the parent company of increased 6.7 percent. Altabank. “Bringing our operating units together under a single The direct visitor spending name makes it clear to customers that they will receive the same led to $15.94 billion in direct, personalized service from Preston, Idaho, to St. George, Utah, indirect and induced visitor-re- and that we have the size and scale to handle the full range of lated spending and an estimat- their business banking needs.” ed $1.28 billion in total tax rev- Williams said the Altabank name also better represents the enue. bank’s mission to be “the best bank for your business.” Taxable sales in the accom- The bank said that customers can expect no operating modation sector reached $2 bil- chances because of the renaming and that businesses and in- dividuals will work with the same bankers they always have. There will be no changes to current accounts, loans or mortgag- es, the bank said. A new Altabank website has been launched, while print and e-statements will have the new name and logo beginning in THINGS WITH FEWER YEARS OF SERVICE THAN FABIAN VANCOTT: December. Branches in Utah and Idaho will have new exterior signs by the end of the year. Customers holding debit and credit From Harold Fabian’s efforts founding Dead Horse Point to extensive cards will receive cards with the Altabank name when their ex- community service and pro bono work, we’ve been making Utah a isting cards come due for replacement. better place for 100 years—or since before sliced bread became toast on countertops across America. fabianvancott.com Pop-Up Toaster: Charles Strite, 1921 The Enterprise - Utah's Business Journal • Nov. 25-Dec. 1, 2019 • 3 Unemployment tax rates drop Ohio firm acquires Premier Building Supply American Fork-based Pre- Founded in 2009, Premier ucts. “Utah is an attractive hous- mier Building Supply LLC has also has locations in Lindon and ing market and I am excited to for employers for sixth year been acquired by Installed Build- Salt Lake City.
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