Salt Lake City flourishes in innovation and growth while nurturing an entrepreneurial environment and economic development
“We’ve added 2,000 new residents downtown since 2011, and we are on track to add 2,000 more in the next year,” he said. “Growth and everything that comes with it is our number one challenge.”
He added, “On the tech side, we have just under a hundred tech companies that are located in our downtown area, and that brings a lot of highly educated and young talented workforce. The median working age in Salt Lake City is just 33 years old.” Maxwell said Salt Lake is not concerned about who will fill the gap if and when Baby Boomers exit the workforce. “If there’s one thing Utah is really good at, it is having kids, so our population pyramid is very strong,” he said. “We have a lot of young people at the base, a disproportionate amount of young people who can eventually fill the vacancies left by those exiting the workforce, right here, homegrown. We don’t have to rely as heavily on in-migration.
Salt Lake is seeing more transit-oriented development along the transit line. “We certainly need to see that extend to all parts of the Valley,” said Maxwell. “Right now, there’s a lot of resistance, especially on our east side. It’s resistance to housing density, and it’s generally a height issue with large condo and apartment complexes. People like to preserve their suburban neighborhood feel.
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