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Show POF 2 THE T1MF.S-1NDF.PENDEN- T REAL ESTATE WEEKLY AUGUST 24-3- 0. 2000 Utahs economy like a rollercoaster Hot Continued property in Green d River! fy Km - O-- ' ' w fg ' economy changed. A hefty 174,400 new residential building permits were issued. The population mass along the i .. A A farm Includes location Three miles north of Green River & One hour to Moab, two hours to Lake Powell 27.8 acres gravity irrigated Senior Green River Canal Company water shares Corral, livestock building, metal shop House Includes Wasatch Front increased and expanded outward, increasing populations in peripheral counties such as t .x.'t v r m Approximately 1,900 sq ft., cinder block, metal roof Three bedrooms, 2 baths, living room, dining room, utility room Walk-i- n pantry & closets, hardwood floors, stone fireplace Carport, evaporative cooler, gas water furnace, distribution centers in this West. Utah landed its newly-prosperin- s Summit, Wasatch and Tooele. Even the states sports team, the National Basketball Association Utah Jazz, enjoyed notable success. All in all, it was quite a decade. high-profil- e What happened? What prompted all this dynamism in Utah in the 1990s? I really cant speak for the Utah Jazz, but as for share of these centers. l, national demographic swings set in motion by economic turmoil stimulated Utahs economy from 1992 through 1999. The national economic recovery was underway in 1994 and had some serious momentum by 1997 (which continues in 2000), and the U.S, economy enjoyed prosperity from coast to coast. Utahs economy no longer held a strong attraction and its slowed, its economy returned to a normal pace. But the fast-pace- d Continued the demographic and economic changes, there are several factors that came together to create this mix: the advancement of information technology, struggling California and United States economies, and to some degree the awarding of the 2002 Winter Olympics. The result was Utahs roaring 90s. All-in-al- pa The decade, started out simply Sandy Norton at Cali enough. The nation was in a recesunfazed was M.1.2.VJ.7870 sion, but Utahs economy because it had already made some s serious adjustments in the late 1990-9employment growth rates were about 3.0 percent versus the nations 1.0 and 0.3 percent, This was a strong showing in the face of a national recession, but it gave no clue that a radical change was on the horizon. The recession had a profound impact upon California. That state had a reputation of being untouched by national recessions, serving as a haI ven in times of national economic distress. But not this time. Large na- I tional defense cutbacks sliced deeply I i;i:2.7!)Ji:i76 1980s-Utah- 1 Call Cindy Kingsley 50 E. Center St P.O. Box 537 Moab, UT 84532 2 Ext 119 (800) 1 -- 842-662- into Californias aerospace and defense industries. Add to this business services and land prices, social decay, and natural disasters. Californias economy reeled. Its unemployment rate approached 10 percent in 1992 and 1993. Thats 1.4 million people looking for work, a number half again as large as Utahs entire labor force at that time. Even if a small percentage of those people, looked to Utah for work, that would have a large impact upon a state as small as Utah and it did! But where did these people find jobs? The emergence of information technology is part of the answer. The geographic isolation barriers that hindered Utah throughout the more urce-based industrial era were being broken down by the technological reso- Let us design your kitchen with our computer. Bring your kitchen measurement in 4 let us design your Dream Kitchen. Pick & choose cabinets while we design it before your eyes. You can see the finished product in 3 dimension so you can visually walk thru your new kitchen. FREE Estimates. You'll be surprisedjust haw affordable it is. FSviklpk 716 East Mala Price es 3 I I I I I I I I I I I I I I I I 1 I I I BtgysktlQ yoy fey; Realtor Cindy Kingsley of I Coldwell BankerArches Realty tures like mountains and deserts. I FREE market Providing analysis Utah had an initial head start in the I for your real estate needs. technology environment, so its I economy grew as the techies and I engineers migrated in. This start in the technology process where in- I creased population demanded in- I creased retail activity, home construc- I Call Cindy Kingsley at tion, and services. The rest of the In- t 3 Ext 119 (435) termountain West also grew, so na- I revolution. The economics of technology are not limited by geographic fea- 259-569- tional businesses responded with g |