WASATCH FRONT ECONOMIC DEVELOPMENT DISTRICT 2017 CEDS COMPREHENSIVE ECONOMIC DEVELOPMENT STRATEGY Annual Update June 2017 Prepared by the Wasatch Front Regional Council / Wasatch Front Economic Development District 295 North Jimmy Doolittle Road, Salt Lake City, UT 84116 | 801-363-4250 | www.wfrc.org This Report was prepared under an Award from: U.S. Department of Commerce Economic Development Administration Grant 05-86-05087 and with help from Davis County, Morgan County, Salt Lake County, Tooele County, Weber County, and Wasatch Front Regional Council. 2013 – 2018 CEDS adopted March 25, 2013 | 2017 CEDS annual update adopted May 22, 2017. CONTENTS Chapter 1. INTRODUCTION ................................................................................................................................................... 1 Wasatch Front Economic Development District ............................................................................................................... 1 Comprehensive Economic Development Strategy ........................................................................................................... 1 Mission Statement ............................................................................................................................................................ 1 Membership ..................................................................................................................................................................... 1 Chapter 2. REGIONAL ECONOMIC GOALS AND OBJECTIVES ................................................................................................ 3 Regional Goals and Objectives.......................................................................................................................................... 3 Goal Setting ...................................................................................................................................................................... 4 Chapter 3. SUMMARY OF REGIONAL ECONOMIC CONDITIONS ........................................................................................... 5 Counties of the Wasatch Front Region ............................................................................................................................. 5 The Wasatch Front Region’s General Conditions ........................................................................................................... 15 Chapter 4. ANALYSIS OF ECONOMIC DEVELOPMENT ISSUES AND OPPORTUNITIES ......................................................... 24 SWOT Analysis ................................................................................................................................................................ 24 Strengths ......................................................................................................................................................................... 25 Weaknesses .................................................................................................................................................................... 27 Opportunities .................................................................................................................................................................. 29 Threats / Challenges ....................................................................................................................................................... 30 Chapter 5. INTEGRATING WITH UTAH’S PRIORITIES........................................................................................................... 32 Statewide Vision ............................................................................................................................................................. 32 Wasatch Front Region’s Vision ....................................................................................................................................... 32 Integrated Economic Development, Transportation, and Land Use .............................................................................. 33 REGIONALLY SIGNIFICANT PROJECTS ............................................................................................................................. 34 Statewide Strategic Industry Clusters ............................................................................................................................. 35 Wasatch Front Region’s Industry Clusters ...................................................................................................................... 35 Urban Street Design ........................................................................................................................................................ 38 State and Local Economic Development Program and Strategies .................................................................................. 38 Consistency with State and Local Workforce Investment Strategies ............................................................................. 39 Past, Present, and Projected Economic Development Investments ............................................................................... 40 Chapter 6. COMMUNITY AND PRIVATE SECTOR PARTICIPATION ....................................................................................... 42 Participation Efforts ........................................................................................................................................................ 42 Chapter 7. PROJECT LISTS, PLAN OF ACTION, AND EVALUATION OF PERFORMANCE ....................................................... 44 Strategic Projects, Programs, and Activities (Appendix A) ............................................................................................. 44 CEDS Plan of Action ........................................................................................................................................................ 44 Evaluation of Performance ............................................................................................................................................. 46 Chapter 8. ECONOMIC RESILIENCY AND THE ENVIRONMENT ............................................................................................ 47 Disaster Mitigation ......................................................................................................................................................... 47 Environment ................................................................................................................................................................... 52 Superfund Sites, Underground Storage Tanks, and Brownfield Sites ............................................................................. 54 Threatened and Endangered Species ............................................................................................................................. 54 Water Management and 100-year Flood Plain Maps ..................................................................................................... 55 Miscellaneous Environmental Information .................................................................................................................... 55 Appendix A. Project Lists, Programs, and Activities (2013 – 2017) .................................................................................... 56 Appendix B. Description of EDA Funding Programs ........................................................................................................... 59 Appendix C. Where Do Centers Exist in 2015? ................................................................................................................... 61 Appendix D. Urban Street Design ....................................................................................................................................... 66 Appendix E. U.S. EDA Denver Regional Office Peer Evaluation .......................................................................................... 69 WORKS CITED ..................................................................................................................................................................... 72 CHAPTER 1. INTRODUCTION COMPREHENSIVE ECONOMIC DEVELOPMENT STRATEGY One of the District’s primary responsibilities is the creation of a Comprehensive Economic Development Strategy (CEDS). The CEDS provides a structure for economic developers to maximize and leverage regional assets when planning and setting economic development goals across jurisdictional boundaries. CEDS ADOPTION The CEDS is updated annually and revised every five years. To remain effective and up to date the CEDS will continue to be updated annually with a revision scheduled in 2018 for the 2018-2023 CEDS. The District adopted the region’s first five-year, 2013-2017 CEDS, on March 25, 2013. This annual update, the 2017 Comprehensive Economic Development Strategy, was approved and adopted by the District’s Strategy Map 1. State of Utah and Counties of the Wasatch Front Economic Development District Committee on May 22, 2017. WASATCH FRONT ECONOMIC DEVELOPMENT MISSION STATEMENT DISTRICT The District supports economic development plans, The Wasatch Front Economic Development District is a promotes long-term economic competitiveness, and federally recognized Economic Development District attracts federal monies in order to implement local designated by the U.S. Department of Commerce, plans. Economic Development