People are discovering one of the hidden gems of the Intermountain West— Salt Lake City, Utah. Long-time residents of the state already know of its worthwhile qualities, but it is now becoming national news. Forbes reported late last year that “Utah’s economy is booming thanks to a combination of strong employment growth, a vibrant tech industry and collaboration between business, labor and government.”

Not only is Utah one of the fastest-growing states in the country thanks to a 1.9 percent population growth in one year, but it also has a median age of 30.5 years, making it the youngest state, as well.

Utah is one of the best places to find a job too. The U.S. Bureau of Labor Statistics data, as reported by Forbes, showed Utah ranking No. 1 for total job growth in the nation at a rate of 3.6%. Also, Utah ranked No. 1 for private-sector job growth at 4%. Unemployment was fairly low compared to the rest of the country ranking No. 5 at 2.8%, in a tie with Hawaii.

The 2020 Utah Economic Report to the Governor showed that over the years, Utah trended upward with a 3.0% long-term average for annual job growth.

Every year, the state is becoming more diverse with the University of Utah projecting an increase from the current 20 percent minority population share to 35 percent by 2065.  

But what makes Salt Lake City such a great place to live comes down to more than just numbers.

As the state’s capital city, SLC is a melting pot of everything the state offers. The state college, the University of Utah, is a few minutes up the road from the State Capitol. Small businesses line the streets. Creativity comes in all shapes and sizes. The diversity of the people lends to new experiences and a variety of opinions. Salt Lake City is truly the heartbeat of the state, which is why so many people call it their new home.

If that doesn’t persuade you to take a second look at SLC, UT, here are four other reasons why you should.

Top Four Reasons Why You Should Move to Salt Lake City

Quality of Life

Salt Lake City received a 7.1 overall ranking (out of 10), with a 6.9 ranking in quality of life and a 6.9 ranking in the job market. Desirability to live in Utah also ranked high at 7.3, according to U.S. News and World Report. What makes the quality of life so high is the blend of attractions and entertainment options nearby.

Residents of Salt Lake City enjoy all of the perks that city life offers with natural amenities close-by. If you want to take a hike, there are thousands right outside of the city. You also have access to some of the world’s best ski resorts, including Park City Mountain Resort, Deer Valley, Brighton, Snowbird, and Alta. Residents can take full advantage of these options, as well as mountain biking trails, running trails, rock climbing spots, lake activities, and more.

If the outdoorsy life isn’t for you, there are other options within city limits. Salt Lake City is home to the Utah Jazz with home games played at the Vivint Smart Home Arena. You can also visit bars, museums, restaurants, and child-friendly attractions like the Clark Planetarium, Discovery Gateway’s Children Museum, and  The Leonardo Museum.   

Low-Cost Living

Another perk of living in Salt Lake City is its lower cost. While home prices in the area may seem higher than the rest of the nation, compared with other metropolitan cities, it is fairly low. The cost of living in Salt Lake City is 49% less than San Francisco, 31% less than Los Angeles, 8% less than Denver, 44% less than Seattle, 18% lower than Dallas, and 57% less than New York City. 

You can also find more inexpensive homes and rental units in neighboring cities and suburbs. Some residents choose to live up the road in Bountiful. Others go further down south to Sandy, Draper, South Jordan, Lehi, and Herriman. These areas are even closer to the state’s infamous Silicone Slopes, an emerging tech hub.

Booming Economy

As mentioned earlier, Utah’s economy is one of the strongest in the country. Along with a strong economic system, Utah is a great home for businesses and entrepreneurs. Silicon Slopes in Lehi, Utah, houses many new startups and tech conglomerates. These businesses bring with them new jobs and plenty of employment opportunities for Salt Lake City residents. For more proof of the state’s business-friendly record, take a look at a few of the accolades the state built-up over the past few years:

• Provo, UT #2 in Best Performing Cities (Milken Institute, 2020)
• SLC #2 of Best U.S. Cities for Starting a Business in 2020 (Inc., 2019)
• Utah #4 Overall for America’s Top States for Business 2019 (CNBC, 2019)
• SLC #10 Best Startup Ecosystem in the U.S. (Business Facilities, 2019)
• Utah #1 State for Entrepreneurs (Forbes, 2019)

Easy Transportation

Although Salt Lake City residents report using cars as their main means of transportation, the city provides other mass transit options. You can hop aboard one of the Utah Transit Authority’s light rail trains or buses seven days a week, except for some holidays.

Another option is the Frontrunner train, which runs a total of 89 miles, including Salt Lake City. TRAX covers a sizable area of the Salt Lake Valley, including stops at the Salt Lake City International Airport and downtown Salt Lake City.

Green Bike SLC is a non-profit bike share organization that provides residents and visitors with bike rental options throughout the city.

Make Utah Your Home with Woodley Real Estate

Whether you are an individual moving to Utah, or an HR professional looking for a partner to help recruit top talent, we’ve been making relocating to Utah successful for almost 20 years. Our full-service real estate firm partners with large and small companies, and individuals looking to purchase a luxury home, land, starter home, and everything in between. Our comprehensive Utah real estate services allow our clients to focus on the critical work of growing their business while we take care of the details of their real estate needs.

 Contact Woodley Real Estate today to learn more.

The coronavirus outbreak is transforming the business world. On top of affecting the economy, businesses are searching for ways to adapt to a new way of life. In an attempt to keep business going, owners learned new ways of conducting their work online. But as many state governments begin looking for the best ways of transitioning out of quarantine, what will that mean for office work?

For many blue-collar workers, there is no way of getting around their routine. For example, employees working in restaurants, retail, distribution, and manufacturing, you need a physical space to perform your work. New procedures are being put in place like physical distancing from other people, mask and glove protocols, and more. Those who participated in traditional office work or white-collar employees will most likely face a “new normal.”

Let’s look at a few questions that many people are asking as we look to adjust working life in this new age.

How will traditional office work change post-corona?

For the past few months, businesses adapted their working platforms to conform to government mandates, which limited the industries allowed to continue and those who couldn’t. What the outbreak of COVID-19 and its resulting events proved was that commercial businesses could adapt and improve.

During the worst months of the pandemic, many business owners found ways of implementing new practices that would allow them to continue using digital formats. Now, as restrictions scale back, many employees are looking for ways to take what they learned from the experience and improve the former working structure.

For example, many businesses noticed a boost in productivity and creativity among their employees when allowed flexible working schedules and improved free-flow station work. While you will need to limit work station interactions for a while, you can ask your team for any takeaways they learned during the past few months.

In-office work should be a team effort. You can learn what pre-Corona practices unintentionally hurt your ROI and which you can change. Having open communication will allow for creative solutions to come from the unfortunate events of the last few months.

While it isn’t clear where most businesses will fall once governments lift restrictions, the coronavirus crisis proved that companies should stay connected, integrated, and collaborative. Your employees will appreciate your efforts to restructure and update any systems for their benefit.

How will commercial spaces physically adapt?

No matter how many businesses choose to WFH or work remotely, there will always be a need for commercial office space. Whether it is retail, manufacturing, warehouse, or office space, commercial buildings will need to adjust. You can expect that many workplaces will roll out new sanitation procedures.

Some sanitation protocols that could occur, include:

• Employees and visitors wear masks and gloves
• Routine sanitation of desks and other spaces
• Using antimicrobial materials and UV cleaning systems
• Installing automated sensors on doors, faucets, light switches, etc.
• Monitoring temperatures
• Directing foot traffic
• Installing new air filtration systems

One factor that will play a significant role in office work post-quarantine is spatial requirements. You can expect that the layout of your office will need to change. Companies will need to increase the amount of space between desks. However, open office spaces might have a difficult time maintaining social distancing as most employees flow from one desk to another. Businesses will need to find a solution that works well for their team, which could mean looking for a new office with increased square footage.

Along with changing the physical space, businesses will most likely take a closer look at employee health and wellness, which might include offering health service benefits. For example, a possible change that could make its way into traditional office buildings is including dedicated spaces for on-site health services or telemedicine.

What does this mean for commercial real estate?

Before the COVID-19 outbreak, commercial real estate in Utah was in high demand. The demand for Commercial real estate was bursting at the seams with many start-ups and conglomerates looking to set up shop. While it’s hard to know what will change when the dust of the epidemic settles, you can expect that commercial real estate will remain steady.

Some businesses will look for new office space that meets their needs. Other companies will expand their building offerings to better engage with employees. No matter what, many businesses will still need a dedicated office space. For example, increased demand for multi-purpose spaces could make headway.

Newer office models will provide employees the flexibility they want, but also give employees the physical space they need when they come into the office. Multi-purpose office space will allow for greater flexibility and let employers continually adapt to the new working environment. If workers elect to work from home more often, they can also use the multi-purpose space for meetings and other gatherings.

No matter what happens, Woodley Real Estate is here to help you meet your business’s demands. Our team members help companies across Utah, large and small, with their commercial lease and purchase negotiations.

Our comprehensive Utah commercial real estate services will provide you with the help you need to adjust your business to meet the demands of your clientele. Trust us to take care of the details of your commercial real estate needs.

Contact Woodley Real Estate today to learn more.