RETAIL PROFILE SPANISH FORK / UTAH 2019 PREPARED FOR SPANISH FORK CITY ON THE COVER: Spanish Fork and Utah Lake Photo credit: Ray Boren SPANISH FORK Retail Profile / 2019 Spanish Fork is home to one of Utah’s fastest growing retail centers and has added 360,000 square feet of new retail space since 2012. Located at the junction of Interstate 15 and US Highway 6, Spanish Fork is situated to serve retail customers from a trade area that spans hundreds of miles. This situation has led companies like Lowe’s, Costco, Walmart and Cinemark to locate in the community, adding Mayor to its gravity as the region’s center for commerce. Spanish Fork’s dynamic local Steve Leifson economy has fueled its continuing population growth which will likely surpass 50,000 residents by 2022. 1 Community Stats Spanish Fork 10 Min Drive Time 30 Min Drive Time Utah Overview Total Population 39,805 52,543 1,209,943 2,993,941 Spanish Fork is growing! Our Annual Growth Rate 2.1% 2.83% 1.71% 1.55% residents are young, earn a high wage, and have young families. Total Households 10,549 13,942 391,121 1,046,597 As part of Utah’s Wasatch Front, Median Household Income $65,847 $61,975 $66,844 $65,325 Spanish Fork has amazing outdoor recreation, urban living, and is a Median Household Age 24.5 years 24.9 years 31.4 years 30.5 years welcoming community. Employee Population 25,383 23,291 884,426 1,476,528 2 Population Consumer Characteristics > 84 75 - 84 65 - 74 Education City State Housing 55 - 64 45 - 54 No High School Diploma 5.7% 8.1% 35 - 44 25 - 34 High School Graduate 21.5% 22.2% 7,971 Owner 15 - 24 Some College 27.2% 26.5% Occupied 5 - 14 <5 Associate’s Degree 14.1% 10.3% 4600 3200 2400 1200 0 1200 2400 3200 4600 Bachelor's Degree 22.5% 22.2% 2,578 Renter Post-graduate Degree 8.9% 10.6% Occupied Male Female RETAIL PROFILE SPANISH FORK CITY Income Age and Sex 48.2% < $10,000 Female $10,000 - $14,999 $15,000 - $24,999 $25,000 - $34,999 27.2 Years - $35,000 - $49,999 Median Age $50,000 - $74,999 $75,000 - $99,999 % $100,000 - $149,999 51.8 $150,000 - $199,999 Male $200,000 - more 0% 5% 10% 15% 20% 25% 23.7 Years - Median Age 3 Top Consumer Key Features Profile Average Large Families Age Years Person in Property Type Age of Home Household Household Children Ownership Income High Credit Awareness 36 $100K Online Shoppers - to - SINGLE OWNS - to - 5+ FAMILY 4-6 HOME Child-Oriented Purchases 45 $125K 4 Spending Leakage Motor Vehicle Parts & Dealers Electronic & Appliance Stores $100 $10 MM MM Spanish Fork is for Families Our consumers are young, tech-savvy, and looking for family-friendly retailers. There are significant opportunities for retailers of all types. City staff $50 $5 are ready and able to assist you with any inquiries MM MM about the opportunities in Spanish Fork. $0 $0 Potential Estimated Potential Estimated Sales Sales Sales Sales $102,499,098 $34,917,988 $8,702,113 $507,222 2019 EDCUTAH 84 GREAT SALT TOOELE LAKE Spanish Fork City COUNTY SUMMITDetails & Map COUNTY Top Retailers 1 Costco SALT LAKE CITY 2 Walmart Supercenter 3 C-A-L Ranch Stores SALT LAKE COUNTY 4 Macey’s Grocery 5 Walmart Neighborhood Market 6 O’Reilly Auto Parts 7 GNC 8 Good Earth Natural Foods WASATCH 9 Ross Dress for Less LEHI 10 Big 5 Sporting Goods PROVO UTAH Public Transit LAKE 9 7 8 FrontRunner Train 1 5 2 4 10 TRAX Light Rail Commuter 6 SPANISH FORK 3 UTAH To learn more about doing business in Spanish Fork City: LOGAN JUAB SALT LAKE CITY PROVO SPANISH FORK CARBON SANPETE MOAB CONTACT DAVE ANDERSON Economic Development Director 801.804.4586| [email protected] MILLARD spanishfork.org ST. GEORGE edcutah.org.