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Show .. - J'-, ' J 4 1 EIRoy Nelson . . . noted Utah economist. Savant Views Sugar House Business Future Editor's Note: Today the News Bulletin publishes the first of two Installments developing de-veloping the economic outlook for Sugar House. Utah's noted economist and business analyst,' EIRoy Nelson, Viae-presilent and Economist of the First Security Se-curity Corporation, is the author. au-thor. The Sugar House area reflects better than any other area in the State the economic trend of Salt Lake, the State and the Region. Since 1950, the population of Utah has been increasing at an' annual rate of almost 2.5 per cent per year. This compares with the national average of 1.7 per cent per year. The Sugar House area has been increasing at an annual rate of 3.5 per cent, just double the national average. Other than the shopping and business areas referred to as Sugar House, there is no definite line of demarka-tion demarka-tion of the area because it has no specific boundaries. For general gen-eral purposes, however, it can be considered the area between Thirteenth South and 64th South, Ninth East to the Mountains. This is an area of approximately 28 square miles. The best estimate of population as of January, 1956, is 85,000 compared with 63,004 in ARril, 1950, and 34,000 in April 1940. The total population is approximately 10.7 per cent of the state. ! This area has approximately 24,000 dwelling units with an average av-erage just above 3.5 persons per unit. The school enrollment of the area is approximately 20,000. Although Al-though the area is a "living room-bed room-bed room" for Salt Lake City and surrounding areas, its people are engaged in everyone of the economic eco-nomic activities within Salt Lake City and the metropolitan area. And, its growth is reflecting the jobs and new jobs created by economic eco-nomic activity in the entire region from mining and agricultural production. pro-duction. INCOME The income received by the residents res-idents In the area in 1955 was approximately $144 million or an average of $6,000 per family unit. This doesn't mean every family received this income because the variations of income in the area I (Continued on Page 9) j NELSON (Continued from Page 1) are as great as in the entire state. So nearly as can be determined, 60 per cent of this income is spent in retail stores ranging from food stores through furniture to automobile auto-mobile outlets. Most of it is spent in Salt Lake and Sugar House. This means, then, a retail trade volume of purchases of $87 million mil-lion made by the residents of the area. Additional economic development develop-ment of the entire region will be reflected in the growth of the Sugar House area and for some time the percentage growth should be considerably greater than the state average. Next week Dr. Nelson will discuss the development and growth of the Sugar House area and give a significant comment com-ment on its traffic pattern. |