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Show Volume VIII Issue X THE OGDEN VALLEY NEWS Page 11 September 1, 2003 PINEVIEW cont. from page 1 struction of the wall across Pineview dam will make conditions worse. Snow and ice removal will be a real problem. The site view from the stop sign is also a safety concern.” Discussions between Weber County representatives and the BOR have included talk about the construction of a bridge east of the spillway that would span the narrowest part of the reservoir. Initial estimates place the cost of executing this plan between ten and 15 million dollars. An alternative to the bridge is also being considered, and has been discussed at recent meetings. Rough estimates show that for two million dollars, the road across the dam could be raised, widened, and realigned to traverse the top of the newly planned embankment. Traffic flow would be altered with westbound traffic from Huntsville being stopped at a traffic signal, while westbound traffic from Eden would proceed with the right of way. On August 20, Weber County Commissioners arranged a meeting and an onsite visit at the dam, inviting state and federal leaders, and BOR and UDOT officials. A group of about 30 gathered to discuss road and funding options. Public reaction to the current work on the Dam by the BOR has also precipitated support for an alternative to the current route design. In a separate meeting held between Bureau representatives, county officials, and residents of Ogden Valley and Ogden Canyon on August 11, Bureau officials admitted that they knew that the original designated plan for dam improvements, as outlined in the Environmental Assessment (EA) completed in March of 2000, would not be the plan they would utilize. According to Jay Henrie of the Bureau, three months later, in June of 2000, the Bureau made the decision to implement the current design plan, which includes the ten-foot wall and embankment across the dam. Valley residents seeking an injunction to stop current work on the dam, state that the alternative plan the BOR is working under was not mentioned in the EA. Speaking to Commissioner Glen Burton, Special Assistant to U.S. Senator Bennett, Bruce Richeson stated after the tour, “If you can find additional partners, such as the state, and come up with a specific plan, there may be some federal dollars available to help fund this project.” BOR Regional Director Bruce Barrett stated at the end of the tour, “We still prefer a bridge. But if the money isn’t there, let’s come right over the top [of the embankment with the road].” Commissioner Burton stated that the first step would be to acquire $200,000 for a “value engineering study.” The process would be a lengthy one. “We probably won’t see any work for improvements before 2007.” Surprising U.S. Economic Strength Bodes Well for Utah’s Small Businesses Highlights The Zions Bank Small Business Index for Utah rose to 93.4 in July 2003 versus a revised 93.2 in June. Utah’s unemployment rate was estimated at 5.2% in July 2003, unchanged from June’s rate. Total Utah employment is down an estimated 3,600 jobs during the past 12 months. Stronger-than-expected U.S. economic growth in 2003’s second quarter is a positive development for the state. We expect growth to strengthen further. The nation’s unemployment rate was 6.2% in July - - down from June’s 6.4% rate - - while net U.S. employment declined by 44,000 jobs. Stronger Than Expected U.S. economic growth registered at a 2.4% real (after inflation) annual rate in 2003’s second quarter, stronger than the 1.5% gain expected by most forecasters. This stronger growth rate follows two consecutive quarters at a meager 1.4% real annual rate. We expect U.S. economic growth to continue to strengthen over the balance of the year and into 2004 (see chart). A long list of factors supports our view. These include: 1) short-term interest rates are at their lowest level in 45 years; 2) tens of thousands of homeowners have again refinanced mortgages, improving their monthly cash flow for years to come; 3) the latest tax cut will provide solid incentives for investment, as well as $12 billion in expanded child credit checks to lower- and middle-income taxpayers in coming weeks; 4) global concerns about the SARS virus have rapidly declined; 5) a weaker U.S. dollar will stimulate U.S. exports, especially to Europe; 6) Iraqi unknowns are now primarily behind us; and 7) recent evidence suggests companies are finally spending more on technology. Stronger U.S. economic growth will have a positive influence on the performance of the Utah economy. The level of U.S. economic growth is a component of the Small Business Index. Utah Employment The Utah unemployment rate—the most heavily weighted component of the Zions Bank Small Business Index for Utah—was estimated at 5.2% in July 2003, unchanged from June’s 5.2% rate. July’s 5.2% rate compared to a jobless rate of 6.1% during July 2002. A lower Utah unemployment rate is a negative contributor to the Index as it implies decreased access to Utah labor. Utah’s unemployment rate averaged 6.1% in 2002 and 4.4% in 2001. By comparison, the 3.2% 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 declined by an estimated 3,600 jobs (down 0.3%) over the past 12 months. This drop compares to a revised loss of 2,300 jobs in the prior yearover-year period. These totals compare to gains averaging 38,300 new jobs annually during the 1994-2000 period. Weak job growth or actual employment declines, leading to lesser income creation and weaker retail spending, has a negative impact upon Utah’s small businesses—and therefore, the Index. The Zions Bank Small Business Index for Utah rose to 93.4 during July 2003 from a revised 93.2 during June 2003. The Index measures business conditions from the viewpoint of the Utah small business owner or manager. A higher Index number is associated with more favorable business conditions for Utah’s small businesses. The Index uses 100.0 for calendar year 1997 as its base year. The Index also includes revisions to various historical or forecast components as they become available. trade sector lost an estimated 14,000 jobs. Temporary jobs rose by 42,000 in July, following a rise of more than 80,000 jobs in the two prior months. The rise in “temp” jobs is a good indicator of gains in permanent employment in coming months. The August 2003 Zions Bank Small Business Index for Utah will be released on September 9, 2003. Zions Bank is Utah’s oldest financial institution, and is the only local bank with a statewide distribution of branches, operating 125 full-service branches throughout Utah. Zions Bank also operates 22 full-service branches in Idaho, and more than 200 ATMs throughout Utah and Idaho. In addition to a wide range of traditional banking services, Zions offers a comprehensive array of investment, mortgage, and insurance services, and has a network of loan origination offices for small businesses nationwide. The company is also a leader in providing electronic banking services, including electronic municipal bond trading. Founded in 1873, Zions has been serving the communities of Utah for 130 years. For more information, call Zions Bank’s Eden office at (801) 745-0835. Jeff Thredgold Thredgold Economic Associates Economic Consultant to Zions Bank (801) 533-9663© 2003 Thredgold Economic Associates National Employment A healthy lawn doesn’t require as much water as one that is struggling to survive. To insure as healthy a lawn as possible, keep the following items in mind: The U.S. Department of Labor reported the net loss of an estimated 44,000 jobs in July 2003, weaker than Wall Street’s expectation of a slight gain. In addition, June’s originally reported decline of 30,000 jobs was revised to a loss of 72,000 jobs. The U.S. unemployment rate was 6.2% in July, down from June’s 6.4% rate, which was the highest in nine years. We would suggest the jobless rate for this cycle of economic weakness possibly peaked in June. The nation’s goods-producing sector lost 67,000 jobs in July, led by the loss of another 71,000 manufacturing jobs. The manufacturing sector has now lost jobs for 36 consecutive months, with more than 2.6 million jobs eliminated since mid-2000. Construction added 6,000 jobs in July, the fifth consecutive monthly rise. Service-providing employment rose by an estimated 23,000 jobs in July. The retail VALLEY REALTOR versus down town realtor YOU DECIDE. Healthy Lawns Use Less Water 1. Aerate the lawn at least once in the spring. More often helps water and oxygen penetrate better. 2. Mow the lawn higher—between 2.5 and 3 inches tall. This is especially important as the weather warms. 3. Fertilize the lawn and keep it thick. As a general rule, we recommend fertilizing on the holidays—Memorial Day, Pioneer Day, Labor Day, and Halloween. 4. Water deeply and infrequently. Train your lawn now to develop better and larger roots by watering deeper, and allowing the roots to grow down to find the water. SOLD You decide who you want on your team. * Valley Realtors know this area. * Valley Realtors work, shop and play here. * Valley Realtors families go to school, church and work here. * Valley Realtors Care about the Valley because they live here. * Valley Realtors donate thousands of hours of community service here. * Valley Realtors sell more homes, lots, land and condominiums. EDEN $105,000 3615 Wolf Creek Drive #606 2 BD, 2 BA End unit condo Fully furnished. Paul Judd 814-5667. MLS# 374849 LIBERTY $239,000 3183 East 5400 North. Tons of home for the money. 6BD, 3 BA, FR, Fenced yard. Paul Judd 814-5667. MLS# 368198 NORDIC VALLEY 3790 East 1950 North. Paul Judd 814-5667. MLS# 328840 $185,000 LIBERTY $189,900 3450 North 5100 East. Ready to build. Has all utilities. Stream runs through it. Paul Judd 814-5667. MLS# 333889 HUNTSVILLE $93,900 1100 N. Maple Dr. Beautiful secluded canyon homesite w/ terrific views of mountains and valley. Paul Judd 814-5667. MLS# 357031 LIBERTY $45,000 3300 N. Hwy 162. Level lot on main road with seasonal stream. Paul Judd 814-5667. MLS#362486 HUNTSVILLE $39,900 588 Mill Road. Private gated community. Hard to find Causey Estates building lot. Paul Judd 814-5667. MLS# 346635 Sale Pending * Valley Realtors money stays in the Valley helping to support your businesses. Call Paul L. Judd 801-745-5667 Serving the Upper Valley for 19 years. 5460 East 2200 North Eden, Utah HUNTSVILLE $500,000 6900 E Street. Lake shore property! Has subdivision possibilities. Paul Judd 814-5667. MLS# 335628 Paul L. Judd Manager/Broker/Owner Great American Realty Multi Million Dollar Producer for past 15+ years 7 4 5 -6 0 0 0 814-5667 Cell phone 745-6000 Office 745-5667 Home Anytime |