Utah County Data
(This should be an interactive map)
Utah County, located along the base of the Wasatch Mountains, is situated near major transportation artery I-15, Salt Lake City International airport, and available land. Provo City, 45 miles south of Salt Lake City, is the largest city in Utah County and the county seat.
POPULATION
2010 Population / Housing UnitsOrem City / 102,589 / 27,048
Provo City / 128,153 / 33,548
Utah County / 561,505 / 139,543
State of Utah / 2,844,960 / 873,738
Source: Decision Data Resources
Utah County Demographics
2000 Census / % Change / 2010 Estimate / % Change /2015 Forecast
Population / 368,536 / 53.97% / 561,505 / 21.50% / 642,490 / 14.4%Households / 99,937 / 43.93% / 139,543 / 18.30% / 153,360 / 9.9%
Age / 2000 Census / % / 2010 Estimate / % /
2015 Forecast
/ %0 to 4 / 40,373 / 11.0% / 62,083 / 11.1% / 70,636 / 13.8%
5 to 14 / 65,266 / 17.7% / 107,870 / 19.2% / 124,590 / 15.5%
15 to 19 / 41,555 / 11.3% / 49,723 / 8.9% / 51,851 / 4.3%
20 to 24 / 55,649 / 15.1% / 68,710 / 12.2% / 51,736 / -24.7%
25 to 34 / 56,169 / 15.2% / 92,031 / 16.4% / 131,777 / 43.2%
35 to 44 / 39,140 / 10.6% / 59,474 / 10.6% / 66,646 / 12.1%
45 to 54 / 29,292 / 7.9% / 48,267 / 8.6% / 55,725 / 15.5%
55 to 64 / 17,589 / 4.8% / 35,821 / 6.4% / 43,222 / 20.7%
65 to 74 / 12,461 / 3.4% / 21,174 / 3.8% / 27,473 / 29.7%
75 to 84 / 8,157 / 2.2% / 11,507 / 2.0% / 13,425 / 16.7%
85+ / 2,885 / 0.8% / 4,921 / 0.9% / 5,527 / 12.3%
Median Age / 23.3 / 24.4 / 26.6
Ethnicity / 2000 Census / % / 2010 Estimate / % /
2015 Forecast
/ %Caucasian / 340,388 / 92.4% / 512,573 / 91.3% / 583,365 / 13.8%
African American / 1,096 / 0.3% / 4,554 / 0.8% / 6,469 / 42.1%
American Indian or Alaskan Native / 2,206 / 0.6% / 4,118 / 0.7% / 5,098 / 23.8%
Asian or Pacific Islander / 6,039 / 1.6% / 11,641 / 2.1% / 15,083 / 29.6%
Some Other Race / 11,974 / 3.3% / 17,177 / 3.1% / 19,712 / 14.8%
Two or More Races / 6,833 / 1.9% / 11,442 / 2.0% / 12,763 / 11.5%
Hispanic Population / 2000 Census / % / 2010 Estimate / % /
2015 Forecast
/ %Hispanic / 25,791 / 7.0% / 56,932 / 10.1% / 72,781 / 27.8%
Household Income / 2000 Census / % / 2010 Estimate / % /
2015 Forecast
/ %$0 - $14,999 / 9,920 / 9.9% / 9,919 / 7.1% / 9,789 / 6.4%
$15,000 - $24,999 / 12,259 / 12.3% / 11,432 / 8.2% / 11,100 / 7.2%
$25,000 - $34,999 / 13,208 / 13.2% / 14,332 / 10.3% / 14,583 / 9.5%
$35,000 - $49,999 / 19,287 / 19.3% / 21,063 / 15.1% / 21,136 / 13.8%
$50,000 - $74,999 / 22,850 / 22.9% / 31,438 / 22.5% / 34,039 / 22.2%
$75,000 - $99,999 / 11,324 / 11.3% / 22,794 / 16.3% / 27,211 / 17.7%
$100,000 - $149,999 / 7,606 / 7.6% / 19,049 / 13.7% / 23,634 / 15.4%
$150,000 + / 3,483 / 3.5% / 9,516 / 6.8% / 11,868 / 7.7%
Average Household Income / $56,405 / $74,266 / $79,929
Educational Attain / 2000 Census / % / 2010 Estimate / % /
2015 Forecast
/ %Grade K - 8 / 3,401 / 2.1% / 6,238 / 2.3% / 7,407 / 2.2%
Grade 9 - 12 / 10,903 / 6.6% / 11,349 / 4.2% / 11,300 / 3.3%
High School Graduate / 31,752 / 19.2% / 50,447 / 18.5% / 62,297 / 18.1%
Some College, No Degree / 50,678 / 30.6% / 74,841 / 27.4% / 88,861 / 25.9%
Associates Degree / 16,039 / 9.7% / 32,530 / 11.9% / 44,359 / 12.9%
Bachelor's Degree / 35,795 / 21.6% / 68,169 / 25.0% / 90,794 / 26.4%
Graduate Degree / 16,336 / 9.9% / 29,621 / 10.8% / 38,777 / 11.3%
Source: Decision Data Resources
Major Recent Announcements
- Micron and Intel have signed a $500 million agreement to develop and manufacture NAND-style flash memory for Apple’s iPod line at a facility in Lehi. The merged company, named IM Flash, opened in 2007 with high quality, high paying jobs.[1]
- Adobe has acquired Omniture in Orem and rather than move that facility to another state they have decided to move some of their operation to the north end of the Utah Valley. Adobe will expand employment by 1,000 full-time employees.
- Online retailer Overstock.com expanded its Provo software-engineering center and is planning to hire 150 new employees the next 2 years. The state offered $1.1M in tax incentives for the expansion, and expects $95M in wages for Utahns in the next ten years[2].
- FrontRunner is a commuter rail system operated by the Utah Transit Authority (UTA), serving the northern portion of the Wasatch Front from Salt Lake Central Station to Ogden Union Station. A future expansion will provide access south from Salt Lake City to Provo, Utah, extending the line to a total of 88miles (142km). Ridership as of the fourth quarter of 2009 is just under the projected 5,830 to 9,037 persons per day traveling on the line that was predicted.[3]
- US Synthetic, the world leader in synthetic diamond drill bits, announced plans to expand its operations in Orem. Synthetic is making a $22M capital investment, and expects to add 150 jobs to its facilities.[4]
- Liberty Safe and Security Products, Inc. will invest $8 million in the development of an expanded production facility in Payson, Utah. The operation will employ more than 100 new full-time staff with wages in excess of 125% of the Utah County average wage, including full benefits.[5]
- Xlear, Inc. is a naturally occurring sweetener. It manufactures all-natural, health-enhancing products. They have announced plans to add 75 employees to its current employee base of 40 people.[6]
Education Highlights[7]
- Brigham Young University (BYU), a private institution owned by The Church of Jesus Christ of Latter-day Saints, attracts nearly 30,000 students from 112 countries and has gained recognition for its excellent undergraduate and graduate programs.
- Utah Valley State College (UVSC), formerly Utah Valley University, in Orem has seen high growth in past years. UVSC offers many certifications, Associate’s degrees and Bachelor’s degrees.
- The Mountainland Applied Technology College (MATC) campus is part of Utah’s College of Applied Technology centers offering various certification courses. The MATC campus also administers Utah’s Custom Fit Training program, providing training and services to local businesses.
(website link to Custom fit grant program)
Major Employers
Company Name / Number of EmployeesBrigham Young University / 15,000 to 19,999
Alpine School District / 5,000 to 6,999
Utah Valley Regional Medical Center / 4,000 to 4,999
Nebo School District / 3,000 to 3,999
Utah Valley State College / 3,000 to 3,999
State of Utah / 2,000 to 2,999
Wal-Mart / 2,000 to 2,999
Utah Office Supply / 1,000 to 1,999
ESG Administration / 1,000 to 1,999
Bullen and Harris / 1,000 to 1,999
IM Flash Technologies / 1,000 to 1,999
Nestles USA / 1,000 to 1,999
Provo High School / 1,000 to 1,999
Utah County / 1,000 to 1,999
Provo City / 1,000 to 1,999
ESG Adminstration / 700 to 999
Novell / 700 to 999
Metalmart / 700 to 999
Central Utah Metal Clinc / 700 to 999
Orem City / 700 to 999
Smith’s Market / 700 to 999
Source: Utah Department of Workforce Services
Utah County Non-Agricultural Employment
Utah County has an unemployment rate of 7.7% as of December 2010.
Industry / 2010 / 2011 / % Change / Numeric ChangeMining / 55 / 82 / 49.10% / 27
Construction / 10,037 / 11,110 / 10.70% / 1,073
Manufacturing / 15,745 / 15,832 / 0.60% / 87
Trade, Transportation & Utilities / 28,809 / 29,867 / 3.70% / 1,058
Information / 7,863 / 8,072 / 2.70% / 209
Financial Activities / 6,122 / 6,004 / -1.90% / -118
Professional & Business Services / 21,758 / 23,696 / 8.90% / 1,938
Education, Health & Social Services / 37,130 / 39,476 / 6.30% / 2,346
Leisure & Hospitality / 14,049 / 14,609 / 4.00% / 560
Other Services / 4,315 / 4,340 / 0.60% / 25
Government / 27,089 / 27,661 / 2.10% / 572
Totals / 55 / 82 / 49.10% / 27
Source: Utah Department of Workforce Services, September 2009 to September 2010 data
Taxation
Total Property Tax Rate – Orem* / 0.011710Utah County / 0.001294
Alpine School District / 0.008220
Orem / 0.001739
Orem Metropolitan Water District / 0.000036
Central Utah Water Conservancy / 0.000421
Total Property Tax Rate – Provo* / 0.010815
Utah County / 0.001294
Provo City School District / 0.006706
Provo / 0.002394
Central Utah Water Conservancy / 0.000421
State & Local Sales & Use Tax (Utah) / 6.50% - 6.85%
State Corporate Franchise Tax / 5.00%
*Primary residential property taxed at 55% of assessed value, commercial property taxed at 100% of assessed value.
Source: Utah State Tax Commission
Climate
Average Annual Rainfall / 15.4 inchesAverage Annual Snowfall / 69.4 inches
Elevation / 4,492 feet
Average July High Temperature / 88.2 degrees
Average January Low Temperature / 11.4 degrees
Source: Utah County
Recreation
Sight Seeing / Mount Timpanogos, Bridal Veil Falls, Cascade SpringsHistory / Historic Courthouse, Fort Utah, Provo Tabernacle
Skiing / Sundance Resort, with a base elevation of 6,100 feet and a summit elevation of 8,250 feet, is set on 450 acres, has 41 runs and 3 lifts, and receives 320 inches in annual snowfall.
Hunting / Deer, elk, pheasants, and waterfowl
Mountain Biking and Hiking / Extensive trail network
Source: Utah County
COMMERCIAL Retail reAL-ESTATE
•All Sectors had a positive absorption of space overall.
•Available sublease office space has increased significantly.
•Average Retail rates have declined slightly. Large malls and retail centers seem to have the lowest vacancy rates.
•The Industrial Sector is very healthy at less than 8% vacancy.
•Owner occupied buildings opening up to multi-tenant opportunities are responsible for most of the market size growth, but North county is seeing several large construction projects near completion which will change this dynamic soon.
Area / SFOrem / 10,5564
Provo / 85,583
North / -73,162
South / -483
Overall / 117,502
Anchorless Strip / 87,716
Neighborhood Ctr / 11,093
Community Center / 18,693
Mall / -
Overall / 117,502
Total Inventory (SF) / 10,875,450
Lease Rates PSF / $14 NNN avg ($5 - $27)
Vacancy / 12.93%
Cap Rate / 8%
Land Values PSF / $7 avg ($3 - $9)
Source: Cushman & Wakefield 3Q11
Orem / Total SF / Available SF / Vacancy / Available SF / VacancyClass A / 1,339,011 / 205,469 / 15.34% / 19,803 / 1.48%
Class / 695,659 / 127,441 / 18.32% / 3,577 / 0.51%
Condo / 965,523 / 201,586 / 20.88% / 4,140 / 0.43%
Overall / 3,000,193 / 534,496 / 17.82% / 27520 / 0.92%
Provo / Total SF / Available SF / Vacancy / Available SF / Vacancy
Class A / 1,458,830 / 367,994 / 25.23% / 3,933 / 0.27%
Class / 1,169,012 / 79,774 / 6.82% / 28,717 / 2.46%
Condo / 619,428 / 82,694 / 13.35% / 0 / 0.00%
Overall / 3,247,270 / 530,462 / 16.34% / 32,650 / 1.01%
Utah County North / Total SF / Available SF / Vacancy / Available SF / Vacancy
Class A / 1,225,620 / 193,266 / 15.77% / 37,645 / 3.07%
Class / 1,269,926 / 137,166 / 10.80% / 15,788 / 1.24%
Condo / 670,202 / 133,405 / 19.91% / 7,881 / 1.18%
Overall / 3,165,748 / 463,837 / 14.65% / 61,314 / 1.94%
Utah County South / Total SF / Available SF / Vacancy / Available SF / Vacancy
Class A / 6,400 / - / 0.00% / 0 / 0.00%
Class / 261,199 / 36,491 / 13.97% / 2,467 / 0.94%
Condo / 80,660 / 18,240 / 22.61% / 0 / 0.00%
Overall / 348,259 / 54,731 / 15.72% / 2,467 / 0.71%
Totals / Total SF / Available SF / Vacancy / Available SF / Vacancy
Class A / 4,029,861 / 766,729 / 19.03% / 61,381 / 1.52%
Class / 3,395,796 / 380,872 / 11.22% / 50,549 / 1.49%
Condo / 2,335,813 / 435,925 / 18.66% / 12,021 / 0.51%
Total Market / 9,761,470 / 1,583,526 / 16.22% / 123,951 / 1.27%
E C O N O M I C D E V E L O P M E N T C O R P O R A T I O N O F U T A H10/21/20111
[1] Source: EDCUtah
[2]Source: EDCUtah
[3]Source: UTA
[4]Source: Deseret News
[5] Soruce: EDCUtah
[6]
[7] Source: Utah State Office of Education, Brigham Young University, Utah Valley State College