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Show Page 12 THE OGDEN VALLEY NEWS March “= 15, 2007 Weber County Small Businesses Benefiting from Solid U.S. Economic Growth The Zions Bank Small Business Index for Utah was 107.3 in January 2007, down from a revised 116.8 in December 2006. Utah’s unemployment rate was estimated at 2.6% in the latest month, unchanged from the prior month’s rate. Total Utah employment is up an estimated 55,700 jobs during the past 12 nths. Weber County experienced job growth of 2,300 jobs (2.5%) from a year ago. Joblessness registered 2.8%, down from the 4.5% unemployment rate one year ago. Solid U.S. economic growth and moderating inflation pressures suggest the Federal Reserve could remain on the monetary sidelines for most of 2007. The U.S. economy added 111,000 net new jobs in January, below expectations. _ However, November and December gains were revised higher by 81,000 jobs. The U.S. unemployment rate rose slightly to 4.6% = Solid U.S. Performance The American economy grew at an inflation-adjusted 3.5% annual pace during the October-December quarter, above the recent consensus forecast of 3.0% real growth. Despite recognized weakness in home construction and auto production, the fourt quarter growth pace was the strongest since the first quarter of 2006. Strength? The American economy actually grew at a slightly stronger pace in 2006 (3.4% after inflation, or real) than it did in 2005 (3.2%). We expect 2.7% - 3.0% real growth in 2007. Consistency? The American economy grew at a real average annual pace of 3.3% during the past four years. Size? The American economy is now a $13.5 trillion ($13,500,000,000,000) behemoth, roughly three times that of runner-up The Federal Reserve’s favored inflation measure core personal consumption expenditures index (PCE, which excludes food and energy costs), rose 2.1% during the past 12 months. The rate remains barely above the Fed’s presumed annual target range of 1.0%-2.0%. Given the current favorable mix of moderate U.S. economic growth and declining inflation pressures, the Fed could well stay on a sidelines until the latter part of the yeai economic growth and financing eosts are components of the Utah Small Business Index. a Utah Employment The Utah unemployment rate-the most heavily weighted component of the Zion: Bank Small Business Index for Utah-was estimated at 2.6% in the latest month, unchanged from the prior month’s rate. The 2.6% rate compares to a jobless rate of 4.0% during the same month one year ago. October’s 2.5% rate was the lowest ever recorded in the state and the lowest in the continental U.S. A higher Utah unemployment rate is a positive contributor to the Index as it implies increased access to Utah labor. Utah’s unemployment rate averaged 3.2% in 2006, 4.3% in 2005, 5.1% in 2004, 5.7% in 2003 and in 2002, and 4.4% in 2001. By comparison, the 3.4% average during 2000 was one of the lowest annual rates since the early 1950s. These rates compare to an average Utah unemployment rate of 3.5% between 1995 and 1999. Total Utah employment rose by an estimated 55,700 jobs (up 4.7%) over the past 12 months, one of the strongest annualized gains in more than 10 years, and one of the strongest job growth rates in the nation. This rise compares to a revised gain of 53,900 jobs in the prior yearover-year period. Utah added 48,100 jobs in 2006, 45,200 jobs in 2005, and 30,200 jobs in 2004. These totals compare to gains averaging 38,000 new jobs annually during the 1994-2000 period and a net loss of 1,300 jobs in 2001 through 2003. Stronger job gains, leading to better income creation and stronger retail spending, have a positive impact upon Utah’s small businesses...and therefore, the Index. The Zions Bank Small Business Index for Utah was 107.3 during January 2007, down from a revised 116.8 during December 2006. The Index measures business conditions from the viewpoint of the Utah small business owner or manager. A lower Index number is associated with less “conditions” for Utah’s . The Index uses 100.0 for ear 1997 as its base year. The Index includes revisions to various historical and new forecast components as they become available. Local Performance Weber County experienced job ioe of 2,300 jobs (2.5%) from a year Joblessness registered 2.8%, down from the 4.5% unemployment rate one year ago. Davis County payrolls expanded by 4,100 jobs (4.2%) in the past year. The unemployment rate was 2.4% in the latest month, down from 3.7% one year ago. Cache County employment grew by 1,600 jobs (3.2%) in the latest mer Te period. The area’s jobless rate was2.0%, down from the3.2% rate of one year a ‘Salt Lake County employment rose by 25,300 jobs (4.4%) over the year. The county’s unemployment rate fell to 2.5% in the latest month, down from 3.9% last year. Utah County employment grew by 8,600 jobs (4.9%) over the last 12 months. The area’s jobless rate was 2.2%, down from the 3.5% rate of one year ago. Washington County payrolls expanded by 4,100 jobs (8.3%) in the past year. The unemployment rate was 2.2% in the latest month, down from 3.2% one year ago. National Employment The U.S. Department of Labor reported a net gain of 111,000 jobs in January 2007, below the expected 150,000 rise. However, combined November and December employment gains were revised higher by 81,000 jobs. The U.S. economy added an average of 187,000 net new jobs monthly in 2006. The 2.24 million rise in employment in 2006 roughly matched gains averaging 2.30 million jobs annually in 2004 and 2005. The U.S. unemployment rate was 4.6% in January, up from December’s 4.5% rate. October’s 4.4% jobless rate was the lowest in more than five years. The average hourly wage rose 0.2% (three cents) to $17.04 hourly, a rise of 4.0% over the past 12 months...versus the 2.5% rise in consumer prices during calendar year 2006. Goodsproducing employment was under pressure n January, with a net rise of 7,000 jobs. Construction employment rose by 22,000 jobs in January (led by commercial real estate gains), while manufacturing employment fell by 16,000 positions. Service-providing employment led the way in January with a rise of 104,000 net new jobs. Education & health care jobsgrew by 31,000 positions, while professional & business services employment rose by 25,000 jobs. isure & hospitality added 23,000 net new jobs in January, while government added another 14,000 jobs. The February 2007 Zions Bank Small Business Index for Utah will be released March 13, 2007. Zions Bank is Utah’s oldest financial institution. Additional information available at <www.zionsbank.com> New Development of Contemporary “Green Homes” In Utah Strives for Zero Carbon Emissions The Snowberry Ridge project in Salt Lake City moves forward with environmentallyminded local developer. Development is underway on a state of the art, environmentally-progressive community overlooking the Salt Lake Valley. Utah developer Steven Keyser has teamed up with contemporary architect Bill Arthur to create what may be the most energy efficient, environmentally friendly neighborhood the West has ever seen. Using “Solar Thermal” technologies to heat the homes and advanced technologies to generate electricity, the development is engineered to produce minimal carbon emissions. “The objective is to use solar technologies to produce heat and power, together with advanced building design to reduce energy requirements of the homes,” explains Snowberry Ridge Developer Steve Keyser. “The result is homes that utilize clean, free solar energy.” Within the next few months, seven lots (each 10 acres) in Emigration Canyon will be available for purchase, along with contemporary “green” designs. The development is in a wooded area of seventy acres, bordered by more than ten thousand acres of Forest Service land and nature preserves. Snowberry Ridge is also just six miles from downtown Salt Lake City. “I can’t think of another neighborhood in the country where you can find these qualities so close to a metropolitan city,” says Keyser. ne of Keyser’s primary objectives is to feature timeless architectural design within Snowberry Ridge. “The homes on this property are created with a limitless lifespan. We predict they will be cherished for generations to come for both their environmental qualities and style,” he says Using the clean, open, contemporary designs of Architect Bill Arthur, floor-toceiling gglass will capture the breathtaking views offered by the property. Snowberry Ridge buyers will have the choice of “green” homes created by Arthur, or they can buy a building lot and use their own designs that must meet the architectural guidelines of the development. 3-D models of the currently designed homes along with descriptions of the technologies that will be used are available at <www.snowberryridge.com> Home and lot reservations are presently being accepted by Prudential Utah. complete, Keyser predicts Siowheaty Ridge will be the most environmentally sensitive community in the area. “Our goal i is a near ‘zero footprint’ of carbon emissions,” he explains. “C design with the new ‘concentrated solar’ technologies coming to market, we think this is truly achievable.” Leg: Da Lee Historic Ranch located beside State Hwy 39 The only name in Valley Real Estate 12 230 South 7700 East Huntsville MLS #653237 $1,650,000 you'll ever need to know. cross from Chevron Commercial Center. Includes primary home plus many associated barns & buildings. Has year round stream. 9.25 acres with 685 + feet of frontage on Hwy 39. Prime real ' estate location. Being sold “as is” through a family trust. Please call Paul Judd at 801-814-5667 or visit this listing on line at Pauljudd.net 814-5667 (er)|| Priced to Sell! 3244 E. 5400 N. Liberty MLS#658934 3122 Moose Hollow Unit #106 MLS#659238 $334,900 Thought you couldn't afford to live in the valley. Check out this 2,961 sq ft home on a large .93 acre lot. This is not a drive by. Once inside you will fall in love with this spacious, cozy comfortable home. Please call 814-5667 or visit me at pauljudd.net. online. $285,000 Listed Fully furnished. Course,Pineview Mtn. Ski Resorts. this dynamic real 801-814-5667 or Price mites ated REDUCTION! 5354 E. 3850 N. Eden MLS #651600 $650,000 Gorgeous home overlooks Fin fee Golf Course & Pineview Reservoir. Features terraced lawns, 7 custom rock walls. Inside has Library, Den, Huge Kitchen & Formal Dining m. Central vacuum through out. Wired for Internet. Priced to sell. Call Paul L Judd at 801-814-5667 or visit this listing on line at pauljudd.net 4736 East 2650 North Eden MLS #628830 349,000. Wow! What an awesome home! Spacious family room w/huge walk out 50 x 12 covered patio.Master bedroom has jetted tub & double sink w/walkin closet. Has 3 car detached heated gar.. Virtural tour at pauljudd.net. Call Paul or Nancy at 801745-6000 Reduced $27,000 444 S. 8750 E. Huntsville MLS#610334 Priced to see at $498,000 This home has it all! Master features jetted tub , Walk in closet, gas log fireplace. Kitchen has hardwood floors, recessed lighting & 2 way FP. Basement kichenette, Large 1.84 acres lot w/ irrgation shares. Lg. covered deck and patio. Please call 814-5667 or visit me at pauljudd.net. online. thousands below similar units. Close to Wolf Creek Golf Reservoir, Snowbasin & Powder This is your chance to get into estate market. Call Paul Judd see a tour at pauljudd.net ‘Price Reduced $25,100 441 S$ 7600 E Huntsville MLS#639778 $429,900 Huntsville Charmer. Built in 1925 but renovated with log siding, New metal roof & new windows Front & Back Covered Decks. Custom built in seating. Breakfast Nook. Large private back yard. Excellent location. Located in town minutes to shopping, Skiing & water sports. Call Paul Judd 801-814-5667 or see a tour at pauljudd.net |