As the 2020 election season approaches, candidates in Utah County, Utah are gearing up for their political campaigns. While there are many important issues that will be discussed during these campaigns, one that is sure to be at the forefront is economic development. With a growing population and a strong economy, Utah County is facing both opportunities and challenges when it comes to economic development.
The Importance of Economic Development in Utah County
Utah County is one of the fastest-growing areas in the United States, with a population that has nearly doubled since 1990. This growth has brought with it a strong economy, with low unemployment rates and a thriving tech industry.However, this growth also presents challenges for the county, such as affordable housing and transportation issues. Economic development is crucial for Utah County to continue its growth and maintain its strong economy. It involves creating jobs, attracting new businesses, and improving the overall quality of life for residents. This is why it is such an important topic for candidates to address during their political campaigns.
The Role of Government in Economic Development
When it comes to economic development, the role of government is often debated. Some believe that government should take a hands-off approach and let the free market drive economic growth.Others argue that government has a responsibility to actively promote economic development through policies and incentives. In Utah County, there is a mix of both approaches. The county government has implemented policies to attract businesses and promote job growth, such as tax incentives for companies that relocate to the area. At the same time, there is also a strong emphasis on free market principles and limited government intervention. During political campaigns, candidates must articulate their stance on the role of government in economic development. This can be a delicate balance, as they must appeal to both those who believe in limited government and those who want more government involvement.
The Impact of the Tech Industry
One of the driving forces behind Utah County's economic growth is the tech industry.Companies like Adobe, Qualtrics, and Vivint have all established a presence in the area, creating thousands of jobs and contributing to the local economy. However, with this growth comes concerns about housing affordability and traffic congestion. As more tech companies move into the area, housing prices have skyrocketed, making it difficult for many residents to afford to live in the county. Traffic has also become a major issue, with long commutes and overcrowded roads. Candidates must address these issues during their campaigns and propose solutions that balance the benefits of a thriving tech industry with the challenges it brings. This may include initiatives to increase affordable housing options or improve public transportation.
The Importance of Small Businesses
While the tech industry may dominate headlines when it comes to economic development in Utah County, small businesses also play a crucial role.According to the U. S. Small Business Administration, small businesses make up 99.3% of all businesses in Utah and employ over half of the state's workforce. During political campaigns, candidates must recognize the importance of small businesses and propose policies that support their growth. This may include reducing regulations and taxes that can be burdensome for small business owners.
The Role of Education
Economic development is closely tied to education.A well-educated workforce is essential for attracting businesses and creating high-paying jobs. In Utah County, there are several universities and colleges, including Brigham Young University and Utah Valley University, that play a significant role in preparing students for the workforce. However, there are also concerns about the cost of higher education and student debt. Candidates must address these issues and propose solutions that make education more accessible and affordable for residents.
The Impact of Tourism
Tourism is another important aspect of economic development in Utah County. The area is home to several popular tourist destinations, such as Sundance Resort and Timpanogos Cave National Monument.These attractions bring in millions of dollars in revenue each year and support local businesses. During political campaigns, candidates must recognize the importance of tourism and propose ways to continue promoting the county as a desirable destination for visitors. This may include investing in infrastructure and marketing efforts to attract more tourists.
