Second-Annual Commercial Real Estate Symposium Held in Provo
Following numerous national economic accolades awarded to Utah County at the end of 2015, leading businesses and community leaders participated in the second annual Utah County Commercial Real Estate Symposium. The Utah Valley Chamber of Commerce hosted the event, which featured dialogue on future development and sustainable growth.
“It is nearly inarguable that Utah County is at the top of the most dynamic markets for economic development in the nation,” said Lew Cramer. “Among the countless national and international recognition Utah County has received as of late, the Federal Bureau of Labor Statistics named Provo/Orem the top metropolitan area in the nation for job growth, and that kind of accomplishment does not simply happen by chance.”
A panel of experts from Coldwell Banker Commercial Advisors (CBC Advisors) discussed the details behind this calculated process, highlighting industrial, multifamily office, and retail development. James Bullington, Office Market Specialist, Eric Larsen, Industrial and Land Specialist, Mike Howard, Investment Properties Specialist, and Ryan Myers, Retail Specialist, all discussed factors contributing to the current state of Utah County’s commercial real estate market and possible obstacles to continued economic growth for both the public and private sectors.
A panel of top Utah County executives consisting of Jim Evans, COO of Xactware, Scott Tenney, City Manager of Google Fiber, Andrew Smith, CEO of Four Foods Group, and Rick Woodbury, Vice Chairman of Woodbury Corporation shared reasons their companies look at Utah County as a home base for growth. The executive panel spoke to current challenges their organizations are facing such as a declining unemployment rate. Many agreed that a unique culture and well-educated workforce contribute to the positive growth throughout Utah County.
“Utah County was the ideal location for the growth of this business due to the strong workforce with strong work ethics,” said Evans. “There is a challenge to find more quality employees as the unemployment continues to decline.”
The panel discussed solutions for creating value for their employees and finding and keeping quality employees through offering shares in their companies, creating fun work environments, and supporting educational growth so employees will continue to move up within their organizations.
Robert J. Grow, President and CEO of Envision Utah, provided a keynote address, highlighting collaboration between cities along and the importance of private and public partnerships.
“It’s not unlikely we could have over 1 million new people by 2030 in Utah County,” said Grow. “Utahns want safe, secure, and quality communities that focus on education and continue to focus on healthy environments. This is why it is important for Utah County to stay on the right track as we continue to create a great destination as the population continues to grow.”