We are thrilled to report on eBay's decision to expand its existing operations in Draper by building a $110 million state-of-the-art facility there. The company will add up to 2,200 employees and pay 125% of the average wage in Salt Lake County.
This is a fantastic development and certainly emphasizes eBay's confidence in Utah's economic future. eBay is a world-class company, an excellent corporate citizen, and will add significantly to Utah's strong technology sector.
eBay currently employs approximately 1,400 people in Utah with its customer service center and data center, in Draper and South Jordan respectively. This project was assisted by the Governor's Office of Economic Development (GOED), Salt Lake County, Draper City, and Rocky Mountain Power.
EDCUtah's annual meeting is coming up October 12. We hope you are planning now to attend. You can secure your company's sponsorship by calling Art Franks, (801) 323-4242. This is sure to be an exciting and informative event. You'll not only learn about our economic development activities from the past fiscal year, but will also hear a keynote address by Wayne Rogers, author of "Make Your Own Rules." He's also an acclaimed actor, television personality and economic adviser. I hope to see you there!
Tuesday, August 30, 2011
Tuesday, August 23, 2011
Salt Lake City is on the list again!
The 10 happiest towns in the West
Salt Lake City made Sunset Magazine's CAPTION Sunset Magazine "Can where you live make you happy? And if so, who's to say what happiness is?"
We won't go down that existential path. And neither does Sunset Magazine in its February issue (out now). Instead, the article hedges its bets, declaring "…the happiest place is where we can find the things that matter most to us."
And that could mean anything from starting a business to living off the grid.
Coincidentally, Oprah on Wednesday featured a segment annointing San Luis Obispo, Calif., America's Happiest City. (It didn't make Sunset's list.) A giddy chamber of commerce, perhaps anticipating a tourism windfall from the so-called "Oprah effect," hosted a viewing party. The coastal college town was the only U.S. location to get a nod in the book Thrive, published last year, which pinpointed the world's happiest spots.
Here's the magazine's top 10 list with the outstanding quality that make these places so appealing to certain types.
Salt Spring Island, B.C. (population 10,000; median house price: $569,300) for wannabe farmers/gardeners. The 74-square-mile island's temperate climate makes year-round gardening possible.
Salt Lake City (population: 182,000; median house price $213,000) for aspiring entrepreneurs. Low corporate tax rates and an educated workforce, among other factors, make this an attractive spot to start a business.
Taos, N.M. (population 5,500; median house price $268,250) for those seeking a vacation home. Year-round recreation and limited housing makes this a good bet for second-home owners looking to rent out their dwelling.
Portland, Ore. (population 582,000; median house price $233,500) for people who prefer to go car-less. The city has a vibrant cycling culture with 300 miles of dedicated bike paths and lanes. And for longer jaunts, there's excellent public transportation.
Bellingham, Wash. (population 77,500; median house price $305,000) for outdoor recreationists. With 143 miles of Puget Sound shoreline in one direction and the Cascade Mountains in the other, there's outside action year round.
Eureka, Calif. (population 25,000; median house price $207,000) for aspiring artists. Art is taken seriously in a town that's home to more than 1,000 artists.
San Diego (population 1.37 million; median house price $330,000) for innovators. From pioneering computer technology to decoding the human genome, all kinds of cutting-edge endeavors are happening here.
Sonoma County, Calif. (population 472,000; median house price $484,000) for gourmands. With more than 300 wineries and a plethora of great restaurants, the area is a foodie's paradise.
Scottsdale, Ariz. (population 235,000; median house price $270,000) for parents of young kids. Low crime, good schools and lots of park land make it a good choice for raising a family.
Crestone, Colo. (population 146; median house price $250,000) for people who want to live off the grid. With 330 sunny days a year, this former mining town is a hotbed of solar power.
By Jayne Clark, USA TODAY
Salt Lake City made Sunset Magazine's CAPTION Sunset Magazine "Can where you live make you happy? And if so, who's to say what happiness is?"
We won't go down that existential path. And neither does Sunset Magazine in its February issue (out now). Instead, the article hedges its bets, declaring "…the happiest place is where we can find the things that matter most to us."
And that could mean anything from starting a business to living off the grid.
Coincidentally, Oprah on Wednesday featured a segment annointing San Luis Obispo, Calif., America's Happiest City. (It didn't make Sunset's list.) A giddy chamber of commerce, perhaps anticipating a tourism windfall from the so-called "Oprah effect," hosted a viewing party. The coastal college town was the only U.S. location to get a nod in the book Thrive, published last year, which pinpointed the world's happiest spots.
Here's the magazine's top 10 list with the outstanding quality that make these places so appealing to certain types.
Salt Spring Island, B.C. (population 10,000; median house price: $569,300) for wannabe farmers/gardeners. The 74-square-mile island's temperate climate makes year-round gardening possible.
Salt Lake City (population: 182,000; median house price $213,000) for aspiring entrepreneurs. Low corporate tax rates and an educated workforce, among other factors, make this an attractive spot to start a business.
Taos, N.M. (population 5,500; median house price $268,250) for those seeking a vacation home. Year-round recreation and limited housing makes this a good bet for second-home owners looking to rent out their dwelling.
Portland, Ore. (population 582,000; median house price $233,500) for people who prefer to go car-less. The city has a vibrant cycling culture with 300 miles of dedicated bike paths and lanes. And for longer jaunts, there's excellent public transportation.
Bellingham, Wash. (population 77,500; median house price $305,000) for outdoor recreationists. With 143 miles of Puget Sound shoreline in one direction and the Cascade Mountains in the other, there's outside action year round.
Eureka, Calif. (population 25,000; median house price $207,000) for aspiring artists. Art is taken seriously in a town that's home to more than 1,000 artists.
San Diego (population 1.37 million; median house price $330,000) for innovators. From pioneering computer technology to decoding the human genome, all kinds of cutting-edge endeavors are happening here.
Sonoma County, Calif. (population 472,000; median house price $484,000) for gourmands. With more than 300 wineries and a plethora of great restaurants, the area is a foodie's paradise.
Scottsdale, Ariz. (population 235,000; median house price $270,000) for parents of young kids. Low crime, good schools and lots of park land make it a good choice for raising a family.
Crestone, Colo. (population 146; median house price $250,000) for people who want to live off the grid. With 330 sunny days a year, this former mining town is a hotbed of solar power.
By Jayne Clark, USA TODAY
Monday, August 22, 2011
Salt Lake Makes List of the Top 10 Best Markets
Record affordability provides rare window of opportunity for house-hunting investors.
In an in-depth, data-driven special report, "10 Best Markets for Real Estate Investors," Inman News analyzed hundreds of housing markets nationwide to develop a list of those that may be best suited for investors.
The full report -- available at no charge - took into account economic, housing and demographic data from sources including median sales price data from CoreLogic, loan data from Lender Processing Services, foreclosure sales and discounts statistics from Realty Trac, InvestorScores from SmartZip, walkability scores from Walk Score, and population and unemployment data from the U.S. Census Bureau and the Bureau of Labor Statistics.
The data analyzed suggested that the 10 best markets for investors are: Indianapolis-Carmel, Ind.; Winchester, Va.-W.Va.; Gainesville, Fla.; Tucson, Ariz.; Tallahassee, Fla.; Hagerstown-Martinsburg, Md.-W.Va.; Salt Lake City; Richmond, Va.; Gainesville, Ga.; and Winston-Salem, N.C.
Seven out of the 10 markets are in the South, two are in the West, and one is in the Midwest. None of the markets are in the Northeast.
The results of the analysis reflect population growth and improving employment. In the past decade, the South has seen the biggest jump in population -- up 14.3 percent to about 114 million people -- and the West saw 13.8 percent population growth, to nearly 72 million.
Four of the top 10 markets are state capitals and at least three others benefit from proximity to either a state capital or the national capital.
Despite recent job growth, unemployment is still high across the country, and in many markets foreclosures have turned homeowners into renters. Affordability is at a record high, but as home prices continue to fall in many markets, some buyers are staying on the sidelines waiting for the market to bottom.
Investors accounted for 21 percent of transactions in the first three months of 2011, and 33 percent of transactions during that period involved cash buyers -- the highest share since NAR began tracking that statistic at the end of 2008.
By contrast, first-time homebuyers have accounted for an average 32 percent of purchases for the past two quarters, which is the lowest share since fourth-quarter 2008.
Distressed property sales including foreclosures and short sales accounted for 40 percent of existing-home sales in March, NAR said, and investors bought 54 percent of those properties, according to economic research firm Capital Economics.
Only 39 percent of investors used a mortgage to finance their purchase in 2010, compared with 80 percent of primary-home buyers, according to NAR's 2011 Investment and Vacation Home Buyers Survey.
The survey showed that the biggest proportion of investors bought their property through a real estate agent (44 percent). Another 20 percent bought directly from an owner they knew, and 17 percent bought through a foreclosure or trustee sale.
The most popular reason cited by investors for buying an investment property was to rent it out, followed by "to diversify investments/good investment opportunity."
The median length of time investors planned to own their purchase was 10 years. More than half of investor buyers (52 percent) said it was at least "somewhat likely" that they would buy another vacation or investment property in the next two years.
Investors tended to be more confident about the housing market than primary homebuyers: 77 percent of investors said "now is a good time to purchase real estate," compared with 68 percent of primary-home buyers.
Read the full report
Inman News - By Andrea V. Brambila
Tuesday, August 16, 2011
Money Magazine: 2 Utah Cities As Some Of The Best Places To Live!
FARMINGTON
Top 100 rank: # 12
Population: 18,300
This friendly town near the Great Salt Lake lies 20 minutes from Salt Lake City’s job and cultural opportunities. More Small Town USA than suburb, Farmington is safe and quiet. That’s not to say it’s no fun: in the center of town is Lagoon, a 125-year-old amusement park that attracts visitors from all over Utah. The town has a mix of expensive turn-of-the-century houses and more affordable homes; a typical three-bedroom ran around $180,000 in mid-2011. What’s more, Farmington’s taxes are low, yet the town is in excellent financial shape
NORTH SALT LAKE
Top 100 rank: # 23
Population: 13,800
In this friendly community with easy access to Salt Lake City, running out of sugar rarely means a trip to the store. Instead, residents pop over to the neighbors’ for a chat and a cup of sugar. Jobs can be had at several small businesses in town (or, of course, in the city). Outdoor activities such as biking and in-line skating are big here, and a 13-acre park for community gatherings has just been constructed. What’s missing is a downtown area to call their own, residents say--but city officials are looking into creating one.
Source : Money Magazine
Top 100 rank: # 12
Population: 18,300
This friendly town near the Great Salt Lake lies 20 minutes from Salt Lake City’s job and cultural opportunities. More Small Town USA than suburb, Farmington is safe and quiet. That’s not to say it’s no fun: in the center of town is Lagoon, a 125-year-old amusement park that attracts visitors from all over Utah. The town has a mix of expensive turn-of-the-century houses and more affordable homes; a typical three-bedroom ran around $180,000 in mid-2011. What’s more, Farmington’s taxes are low, yet the town is in excellent financial shape
NORTH SALT LAKE
Top 100 rank: # 23
Population: 13,800
In this friendly community with easy access to Salt Lake City, running out of sugar rarely means a trip to the store. Instead, residents pop over to the neighbors’ for a chat and a cup of sugar. Jobs can be had at several small businesses in town (or, of course, in the city). Outdoor activities such as biking and in-line skating are big here, and a 13-acre park for community gatherings has just been constructed. What’s missing is a downtown area to call their own, residents say--but city officials are looking into creating one.
Source : Money Magazine
Monday, August 15, 2011
QR Codes Are Averywhere! Even On a Tombstone!
When Edouard Garneau died last August, his wife of 53 years ordered a bench-style tombstone.
"I go and talk with him," said Faye Garneau, who admits she isn't so sure she likes that her own name is already inscribed there, too.
That wasn't all: Several months later, the monument maker added a high-tech innovation — a small, square image known as a quick response or QR code, affixed alongside the big letters spelling out Garneau.
The monument maker — a friend — was working on the code before Garneau died of cancer at age 78.
People scanning the code with their smartphones are taken to a website that includes Garneau's obituary and a photo gallery highlighting the Seattle-area businessman. They learn he was a collision auto body repair expert, a world traveler and a loving uncle. In the future, more photos and stories from family and friends can be added.
Faye Garneau recently added a QR code to the gravestone bench memorializing her husband Ed Garneau at Holyrood Cemetery in Shoreline, Wash.
"I think it's a neat deal," Faye Garneau said. "It kind of keeps people alive a little longer, down through the generations."
When scanned with a smart phone's QR reader, code on Ed Garneau's tombstone takes users to a web site memorializing him in words and pictures.
The Seattle-based tombstone company is one of many new adopters of quick response or QR codes that also includes, a Florida nature trail and a T-shirt maker.
New uses for the technology are popping up almost daily, said Shane Greenstein, a professor at Northwestern University in Evanston, Ill., who studies IT markets. That's because "the bugs are worked out" from the code, which was created in Japan in the early 1990s, Greenstein said, adding that "there's no licensing fee; there are no restrictions. Users are free to think creatively." And, they are.
In Seattle, Quiring Monuments has made code-adorned "living headstones" for about two months. It has sold about 30 so far, General Manager Jon Reece said, adding he's gotten "tons" of inquiries, often from people still very much alive: "They say, 'I want my story to be told the way I want it to be told.'"
Quiring Monuments offers the QR code, website and website hosting free to people buying new monuments from the company, Reece said, noting the company will add it to existing grave markers for $65.
On Sanibel Island, Fla., the J.N. "Ding" Darling National Wildlife Refuge unveiled QR code signs last month along Wildlife Drive, on which nearly 800,000 visitors a year travel by car, foot or bicycle.
"It was nice and easy," said 13-year-old Tom Garvey of Delran, N.J., who put his iPhone — an eighth-grade graduation gift — to use on the trail. The refuge's iNature Trail sports 10 signs, each with two QR codes — one that pulls up videos and educational websites for adults, and another that's tailored to children.
"We wanted to find that niche to get kids outdoors and excited about nature," said refuge ranger Toni Westland. The videos feature snippets about ospreys, alligators and other creatures living along the mangrove forest-dotted estuaries of the 6,400-acre refuge.
Newspapers, including USA TODAY, use the codes to direct readers to such items as videos and photos.
A multitude of uses
Examples elsewhere include:
•Boulder, Colo., acoustic rock band SoundRabbit sells or hands out T-shirts with codes that take smartphones to free music downloads, said Chris Anton, band member, shirt creator and website design company co-owner.
•Lafayette, N.J.-based Fuzzy Nation, a designer and wholesaler of gifts for dog lovers, for the first time is putting QR codes on hangtags on its products sold at Macy's department stores nationwide, said Fuzzy Nation owner Jennifer Liu. The scanned code helps people enter a contest that began July 11. The contest promotes pet adoption and will earn one shelter a $10,000 stipend.
•Organizers of the Chevrolet Fireball Run Adventurally, from Sept. 23 through Oct. 1, say it will be the first national motoring event to use QR codes. For this year's multistate run though the South, competition cars will sport decals with codes. And, driving teams will distribute missing-child posters with codes. The scanned codes aid people with crucial information to share with the National Center for Missing & Exploited Children, said J. Sanchez, event executive producer.
•Kansas City, Mo.-based mobile tech marketing firm Kickanotch sends code-imprinted frosted graham crackers to new clients as a "thank you" and to take them to a website offering more ideas for the codes, CEO Andy Lynn said.
•Trinity Baptist Church in Lake Charles, La., is using QR codes in its bulletins and posters to encourage sign-ups for special family and youth programs, said Steven Haney, church media director.
Real estate sales agent Marilyn Boudreaux did a double take when spying a code for the first time in the church's bulletin: "I was like, wow — we are with the times." Her discovery occurred shortly after the worship service began. That made the QR code a temptation, Boudreaux said: "I wanted to pull out my phone, and scan it."
By Andy Rogers, Red Box Pictures for USA TODAY
"I go and talk with him," said Faye Garneau, who admits she isn't so sure she likes that her own name is already inscribed there, too.
That wasn't all: Several months later, the monument maker added a high-tech innovation — a small, square image known as a quick response or QR code, affixed alongside the big letters spelling out Garneau.
The monument maker — a friend — was working on the code before Garneau died of cancer at age 78.
People scanning the code with their smartphones are taken to a website that includes Garneau's obituary and a photo gallery highlighting the Seattle-area businessman. They learn he was a collision auto body repair expert, a world traveler and a loving uncle. In the future, more photos and stories from family and friends can be added.
Faye Garneau recently added a QR code to the gravestone bench memorializing her husband Ed Garneau at Holyrood Cemetery in Shoreline, Wash.
"I think it's a neat deal," Faye Garneau said. "It kind of keeps people alive a little longer, down through the generations."
When scanned with a smart phone's QR reader, code on Ed Garneau's tombstone takes users to a web site memorializing him in words and pictures.
The Seattle-based tombstone company is one of many new adopters of quick response or QR codes that also includes, a Florida nature trail and a T-shirt maker.
New uses for the technology are popping up almost daily, said Shane Greenstein, a professor at Northwestern University in Evanston, Ill., who studies IT markets. That's because "the bugs are worked out" from the code, which was created in Japan in the early 1990s, Greenstein said, adding that "there's no licensing fee; there are no restrictions. Users are free to think creatively." And, they are.
In Seattle, Quiring Monuments has made code-adorned "living headstones" for about two months. It has sold about 30 so far, General Manager Jon Reece said, adding he's gotten "tons" of inquiries, often from people still very much alive: "They say, 'I want my story to be told the way I want it to be told.'"
Quiring Monuments offers the QR code, website and website hosting free to people buying new monuments from the company, Reece said, noting the company will add it to existing grave markers for $65.
On Sanibel Island, Fla., the J.N. "Ding" Darling National Wildlife Refuge unveiled QR code signs last month along Wildlife Drive, on which nearly 800,000 visitors a year travel by car, foot or bicycle.
"It was nice and easy," said 13-year-old Tom Garvey of Delran, N.J., who put his iPhone — an eighth-grade graduation gift — to use on the trail. The refuge's iNature Trail sports 10 signs, each with two QR codes — one that pulls up videos and educational websites for adults, and another that's tailored to children.
"We wanted to find that niche to get kids outdoors and excited about nature," said refuge ranger Toni Westland. The videos feature snippets about ospreys, alligators and other creatures living along the mangrove forest-dotted estuaries of the 6,400-acre refuge.
Newspapers, including USA TODAY, use the codes to direct readers to such items as videos and photos.
A multitude of uses
Examples elsewhere include:
•Boulder, Colo., acoustic rock band SoundRabbit sells or hands out T-shirts with codes that take smartphones to free music downloads, said Chris Anton, band member, shirt creator and website design company co-owner.
•Lafayette, N.J.-based Fuzzy Nation, a designer and wholesaler of gifts for dog lovers, for the first time is putting QR codes on hangtags on its products sold at Macy's department stores nationwide, said Fuzzy Nation owner Jennifer Liu. The scanned code helps people enter a contest that began July 11. The contest promotes pet adoption and will earn one shelter a $10,000 stipend.
•Organizers of the Chevrolet Fireball Run Adventurally, from Sept. 23 through Oct. 1, say it will be the first national motoring event to use QR codes. For this year's multistate run though the South, competition cars will sport decals with codes. And, driving teams will distribute missing-child posters with codes. The scanned codes aid people with crucial information to share with the National Center for Missing & Exploited Children, said J. Sanchez, event executive producer.
•Kansas City, Mo.-based mobile tech marketing firm Kickanotch sends code-imprinted frosted graham crackers to new clients as a "thank you" and to take them to a website offering more ideas for the codes, CEO Andy Lynn said.
•Trinity Baptist Church in Lake Charles, La., is using QR codes in its bulletins and posters to encourage sign-ups for special family and youth programs, said Steven Haney, church media director.
Real estate sales agent Marilyn Boudreaux did a double take when spying a code for the first time in the church's bulletin: "I was like, wow — we are with the times." Her discovery occurred shortly after the worship service began. That made the QR code a temptation, Boudreaux said: "I wanted to pull out my phone, and scan it."
By Andy Rogers, Red Box Pictures for USA TODAY
Monday, August 8, 2011
Why They Are Saying to Buy A Home Now
Despite what appears to be a non-stop wave of tough news regarding real estate, four major media players have come out this month with the same advice: It Is Time to Buy a Home! Here are the four articles and a breakdown as to why the advice makes sense.
The Wall Street Journal: Why It’s Time to Buy
CBS Money Watch: Why the Time to Buy is Now
Forbes Magazine: 9 Reasons to Buy a House Now
National Public Radio: For Many, It’s Still a Good Time to Buy a Home
With prices continuing to depreciate in most regions of the country, some may wonder why these four entities are suggesting to their readership that now is the time to buy. Each organization realizes that PRICE is not as important as COST. The cost of a home can go up even if prices continue to fall. Unless you are an all cash buyer, you must take into consideration the expense of mortgaging when calculating the full cost of a home. Here is some information to consider.
Interest Rates
Currently, interest rates sit at historic lows. However, Fannie Mae, Freddie Mac, PMI and the National Association of Realtors are all projecting approximately a 1% increase in mortgage rates over the next year. A one percent increase in rate negates a ten percent fall in prices.
Lending Standards
The government has proposed a tightening of lending standards called Quality Residential Mortgage (QRM). If accepted as proposed two things will happen:
1. The qualification process for loans will become more difficult
2. The cost of a loan will increase
Bottom Line
There is a reason more and more financial organizations are suggesting to their followers that now is the time to buy a home: because the cost of purchasing a home is about to increase (even if prices continue to fall).
by The KCM Crew
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