Economic Development Update - Microsoft...2018/02/02 · RESIDENTIAL BUILDING PERMITS Year Single...
Transcript of Economic Development Update - Microsoft...2018/02/02 · RESIDENTIAL BUILDING PERMITS Year Single...
OREM ECONOMIC DEVELOPMENT
Economic Development Update
econdev.orem.org
OUTLINE
1. The City2. Business Resources3. Completed Projects4. Under Construction5. Proposed Projects6. University Place
CENTENNIAL CELEBRATION
2017 CITY OF OREM RANKINGS
#1 The Best Places to Live in Utah Time Money
#1 Top 10 Cities for Working Parents Smartasset
#2 Top 10 Places to Trick or Treat Smartasset
#14 The Best Places to Live in America Time Money
#15 Best College Towns & Cities in America WalletHub
#19 The 30 Safest Cities to Raise a Child Safewise
#47 Most Livable: America’s 50 Best Cities to Live 24/7 Wall Street
2016 POPULATION (U.S. Census Bureau Estimates)
Largest Population Increase from 2015 to 2016
1) Herriman 4,548 14.75%2) Orem 3,166 3.36%3) Lehi 2,702 4.62%4) South Jordan 2,521 3.79%5) SLC 2,306 1.20%6) St. George 2,189 2.73%
Utah's Largest Cities, 2016
1) Salt Lake 193,7442) West Valley 136,5743) Provo 116,8684) West Jordan 113,6995) Orem 97,4996) Sandy 95,8367) Ogden 86,7018) St. George 82,3189) Layton 75,65510) South Jordan 69,034
2010 to 2016: Orem 10.4% or 9,171Utah County 14.6%
RESIDENTIAL BUILDING PERMITS
YearSingle Family Residential Value
Condo or Townhome Units Value Multifamily Units Value
2012 62 $ 18,545,881 61 $ 10,709,369 8 $ 1,759,065
2013 59 $ 20,797,236 38 $ 7,501,951 4 $ 913,364
2014 101 $ 32,350,914 126 $ 24,101,308 843 $ 98,144,200
2015 108 $ 34,828,960 14 $ 2,568,136 819 $ 98,002,640
2016 76 $ 29,059,689 38 $ 7,694,766 243 $ 40,124,911
2017 76 $ 30,071,071 126 $ 22,194,686 197 $ 27,530,241
Totals 482 $ 165,653,751 403 $ 74,770,216 2114 $ 266,474,421
COMMERICAL BUILDING PERMITS
Year Commercial / Industrial ValueCommercial Addition or
Remodel Value
2012 7 $ 9,090,436 169 $ 12,735,618
2013 19 $ 29,617,010 188 $ 17,949,396
2014 16 $ 10,429,165 174 $ 16,688,652
2015 15 $ 53,513,319 262 $ 18,883,735
2016 17 $ 24,615,339 171 $ 18,548,631
2017 18 $ 34,457,908 201 $ 17,410,023
Totals 92 $ 161,723,177 1165 $ 102,216,055
BUSINESS STATISTICS (Post Recession)
Commercial Business Licenses
2013 2,505 Low Point2017 2,826 +321
Number of Employees Reported
2010 26,951 Low Point2017 30,311 +3,360
CITY OF OREM
BUSINESS RESOURCES
OREM REVOLVING LOAN FUND
Last Resort Business Loans
• Requires Creation of One Job for Every $35,000 Borrowed• Requires 2:1 Matching Funds• $80,000 Maximum Amount• Six Month to Three Year Repayment• $260,000 Available to Loan• Current Portfolio: $440,000 for Nine Loans
BUSINESS LOANS OF UTAH (BLU)
Loans for Small Businesses Unable to Acquire Financing from Traditional Financial Institutions
• Participants: Orem, Provo, Spanish Fork, Ogden, Weber County• Managed by the Utah Center for Neighborhood Stabilization (UCNS)• $50,000 to $175,000 loans• Orem has access to $700,000 of lending capacity• First loan is in process
UVU BUSINESS RESOURCE CENTER – 815 W 1250 S
• Business Incubator Below Market Rent Counseling Classes Collaboration
• Free Business Assistance Counseling Classes Advice Available to Anyonewww.uvu.edu/brc
BUSINESS RESOURCE CENTER INCUBATOR
purascents
ParrotTeleprompter
PerkNow
CITY OF OREM
COMPLETED PROJECTS
OREM BUSINESS PARK FLEX WAREHOUSE
• Two Buildings• 33,000 SF Each• 1471 W 1250 S
• For Lease Units• 3,000 to 6,000 SF Units• Only Six of 20 Units Available• orembusinesspark.com
SUN CANYON VILLAS – 464 S State Street
• Mixed Use• Four Commercial Units• 2,200 SF Each
MEDICAL OFFICE BUILDING – 155 S Orem Blvd
EL POLLO LOCO – 64 E University Parkway
TIMP CREEK CROSSING – 130 S State Street
• ??
IDRIVE – 1920 N State Street
KELLER WILLIAMS REALTY – 1002 N 1200 W
• 21,500 SF• 250 agents
UPS FACILITY EXPANSION – 573 N 1500 W
• 90% of pick-up and delivery volume is out-of-state
• Only Utah County facility
• 19,000 SF addition• Projected to add 150 Jobs in 5 years• $7.1 million capital investment
WW CLYDE & CO. – 869 N 1500 W
• Headquarters• 26,300 SF
CITY OF OREM
UNDER CONSTRUCTION
BRENT BROWN TOYOTA – 1400 S Sandhill Road
• 9 New Service Bays• Additional Parking• 10 New JobsExpansion
Parcel
BRENT BROWN TOYOTA
GARFF HONDA – 195 E University Parkway
• Convert VW to Honda• New
• Showroom• Service Reception• Service Bays• Quick Lube• Vehicle Delivery Center
• 23 New Jobs by 2019
GARFF VW – 115 E University Parkway
• Convert Honda to VW• Remodel
• Showroom• Service Reception• Shop
• 16 New Jobs by 2018
ZAOS ASIAN & BLAZE PIZZA – 1352 S State Street
QUICK QUACK CAR WASH – 1588 N State Street
STEWARTS LAWN TREES PESTS – 391 S Vineyard Road
• 1.62 Acres• 13,000 SF
Building Pad• Two-Story Office
and Warehouse
SIMTEK FENCE EXPANSION – 1330 W 400 N
• 38,000 SF• 30’ Height
• Over 100,000 SF After Expansion• Two New Manufacturing Lines
CASCADE OFFICE PARK – 800 N 1000 E
• Two Buildings• 23,000 SF Each
• Site is Under Construction• Five of Seven Suites in
Building One Preleased
NORD ORTHODONTICS – 809 S State Street
SUPERIOR STORAGE – 1030 N State Street
UVU ARTS BUILDING
• 130,000 SF• $54 Million• Concert Hall• Proscenium Theater• Dance Hall• Choral Ensemble Venue• Practice Rooms• Administration Offices
MIDTOWN 360 – 360 S State Street
Pancake and Steakhouse
Asado Argentinian Grill & Café Expansion
MIDTOWN 360 WEST BUILDINGS
• 248 Units• Underground Parking
MIDTOWN 360 WEST BUILDINGS
CITY OF OREM
PROPOSED PROJECTS
TRAFALGA PROPERTY – 168 S 1200 W
• 3-Story• 61,000 SF• I-15 frontage
• Building plans underway• Summer 2018 groundbreaking
DOWNEAST HOME & CLOTHING – CAFÉ RIO – 40 W Center Street
• Former Chuck E. Cheese’s
THE HUB – 1420 W 800 S
• 269 Units• 1,060 Beds
UNIVERSITY DOWNS – 1240 W University Parkway
• Proposed student housing project
PALOS VERDE – 960 S 500 W
• 450 Units• 1,605 Beds
PALOS VERDE – 960 S 500 W
PALOS VERDE – 960 S 500 W
SEQUOIAS EVENT CENTER – 1886 S Geneva Road
• Corporate Events• Destination Weddings
• Almost 30,000 SF• 20 Acres
SEQUOIAS EVENT CENTER – 1886 S Geneva Road
MEADOW GOLD CAMPUS – 841 S State Street
• Owner: Southern Foods Groups• 4.17 Acres
CITY OF OREM
UNIVERSITY PLACE
UNIVERSITY PLACE – PARKING GARAGE
• Phase 1 – 676 Parking Stalls• Phase 2 – 434 Parking Stalls and
Extends to the West
RESIDENCES @ PARKSIDE
• Exterior of Parking Garage
• 70 Units with 42 Garages
• Retail on the Main Level
UNIVERSITY PLACE RETAIL
UNIVERSITY PLACE RETAIL
UNIVERSITY PLACE OFFICE
THE ASTON NORTH
• 129 Units• Three
Retail Units
UNIVERSITY PLACE
• Now Open
• Office Building is Fully Leased
UNIVERSITY PLACE CONCEPT VIDEO