Tuesday, January 25, 2011

2011 Economic Future for St George

The Economic Summit flew into the Dixie Center with the newly acquired Life Flight helicopter and ended with the official ribbon cutting ceremony at the new St. George Airport.
Lecia Langston, Regional Economist with Department of Workforce Services assured everyone that the economy is definitely starting to rebound. She cautions not to look for the inflated 10 percent annual job growth recorded during the height of the boom in Washington County, but more realistically to a growth rate of 4 to 5 percent over the next couple of years.
Vardell Curtis, CEO of Washington County Board of REALTORS stated that this year should be very good for first-time home buyers to shop. The three main ingredients that affect buyer affordability are mortgage rates, house prices, and income. With the first two at or near cyclic lows, buyer affordability is at the highest level in decades. The National Association of Realtors Affordability Index for the third quarter of 2010 reported one of the most affordable buying markets since the inception of the index in 1971. Curtis also stated that changes will be slow and subtle and there will be no big surprises in 2011.
Keynote Speaker, Dr. Charles Sorenson, spoke on the growth of the Intermountain Healthcare system. Most recently, the cancer treatment center added some of the best in radiation equipment in the state, and this year, the new Life Flight Helicopter was placed into operation.
Guest Speaker, Jerry Atkin, Chairman and CEO of SkyWest Airlines shared the story of the company’s humble beginnings to it’s present success
Today the airline boasts a fleet of over 700, serving both the western and eastern U.S., as well as three overseas charter lines.
The Summit’s “What’s Up Down South” presenters talked about future projects that will impact the economy in Washington County for the next 18 months. Local companies undergoing expansion efforts, bringing more employment opportunities into the community included; Cox Trucking, Design to Print, Red Rock Commons, ContactPoint, Healthcare Insight, Manufacturing U, and Dixie State College.
Litehouse, maker of salad dressings, snacks and other food products announced it would be setting up new operations in the Hurricane Industrial Park as part of their company-wide expansion efforts. New to Southern Utah, they plan to hire 60—70 employees in their first year of operation and as many as 100 over the course of the next three years.
Czarnowski Display Services, another new company expanding into the area will be providing approximately 50 new jobs when they begin their operations. A manufacturer of trade show exhibits and affiliated services will be locating in the Fort Pierce Industrial Park as they continue to service trade shows around the globe.
Along with Mayor, Dan McArthur, Governor Gary Herbert praised the airport’s opening. Governor Herbert stated that the St. George airport will be a catalyst of continued economic development and expansion in the State of Utah. “This is a great day for the history of St. George,” said Mayor McArthur. - Dixie Center and the Spectrum

No comments: