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Business & Labor
9:02 pm
Tue June 18, 2013

Salt Lake City Council Okays Property Tax Increase

Salt Lake City County Building Photo

The Salt Lake City Council approved the city’s $200 million budget yesterday, which includes an $8 million property-tax hike.  The council approved the increase despite Mayor Ralph Becker’s objections. 

Outgoing Councilwoman Jill Remington Love says the city has had to make tough budget decisions in the past few years. Because of a weak economy, rising health care costs and retirement, it’s now dealing with a dire structural deficit. 

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Business & Labor
4:26 pm
Thu June 13, 2013

Supreme Court Throws Out Some Myriad Patents, Upholds Others

Myriad Genetics offices in Salt Lake City

The US Supreme Court struck down some of Myriad Genetics’ patents today on its breast and ovarian cancer test. But the Salt Lake City company is focusing on what the ruling left intact. Myriad officials say the company still has 24 different patents. 

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Business & Labor
5:24 pm
Wed June 12, 2013

Planners Recommend Denying Rezone for Tavaci Developer

The Salt Lake County Planning Commission unanimously recommended denying a developer’s request to rezone a parcel of land at the mouth of Big Cottonwood Canyon. The Tavaci development was initially approved as a subdivision for single family homes. But the owner is pursuing the rights to build something larger. 

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Business & Labor
4:31 pm
Fri June 7, 2013

SyberJet Chooses Utah for Headquarters and Assembly Plant

Credit SyberJet Aircraft
SJ30

Utah is now home to one of the fastest light business jets in the world. SyberJet Aircraft announced this week that it has selected Cedar City as the location for its headquarters and the new SJ30 assembly plant. SyberJet Aircraft President Chuck Taylor says the new seven-seat SJ30 will be assembled from start to finish in Utah. 

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Business & Labor
5:06 pm
Thu June 6, 2013

Downtown Farmers Market Extends Summer Hours

Credit Courtesy of slcfarmersmarket.org

The Downtown Farmers Market opens for the summer this Saturday in Pioneer Park. Vendors selling locally-grown produce and goods will stay a little later than normal this year. 

Nearly ten thousand people every Saturday during the summer visit the downtown farmers market, so this year vendors will stay open an extra  hour. Kim Angeli is Director of the Downtown Farmers Market and she says the extra hour will give people more time and room to browse.

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Business & Labor
5:20 pm
Wed June 5, 2013

Utah Mayors Call for Immigration Reform

A bipartisan group of Utah mayors have sent a letter to Republican Senators Orrin Hatch and Mike Lee, urging them to immediately pass immigration reform legislation. From Fruit Heights to Salt Lake City to St. George, 19 mayors signed the letter. It calls for comprehensive immigration reform, and warns that Utah communities will face significant challenges unless that reform is enacted. 

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Business & Labor
4:52 pm
Tue June 4, 2013

Kennecott Worker Buyout Helps Avoid Additional Layoffs

Credit Kennecott Utah Copper

Workers at Rio Tinto’s Kennecott Utah Copper are breathing a sigh of relief after mine officials announced today there would not be another big layoff. A recent landslide at the Bingham Canyon Mine has forced the company to drastically reduce production and layoff some administrative staff.

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Business & Labor
12:45 pm
Fri May 24, 2013

Kennecott Reduces Workforce by 100 in Utah, More Layoffs to Come

Credit Kennecott Utah Copper

About 100 employees at Kennecott Utah Copper have been laid off as a result of last month’s slide at the Bingham Canyon Mine. Kennecott spokesperson Kyle Bennett says the layoffs affected employees across the ranks of the mine’s salaried workforce. None were union employees, though he says some hourly workers will have to be let go before the end of the month. 

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Business & Labor
12:29 am
Thu May 23, 2013

Salt Lake Area Immigrants Call on Senator Hatch to Fulfill Dreams, Reunite Families

As the debate on immigration reform continues in the US Senate, immigrants in Salt Lake City held a press conference and vigil Wednesday night urging Senator Orrin Hatch to support legislation that creates a path to citizenship and keeps families together.  

The event was organized by the Salt Lake DREAM team, immigrant young people who want a chance to earn their citizenship through college or military service. In their stories, what you hear are dreams deferred.

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Business & Labor
3:15 pm
Mon May 20, 2013

Suburban Poverty More than Doubles in Utah’s Major Metro Areas

Poverty in US suburbs is on the rise, but especially in Utah. A new book released Monday shows that the number of people living in suburbs below the federal poverty line has more than doubled in three major metropolitan areas in Utah over an 11-year span. In fact, the Salt Lake City area ranked number 3 in the nation for fastest growth in suburban poverty. 

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Business & Labor
4:22 pm
Fri May 17, 2013

Utah Jobless Rate Drops to 4.7; Governor Declares Recession Over

Utah Department of Workforce Services

Unemployment in Utah dipped to 4.7 percent last month, the state’s lowest rate since November 2008. Utah also added more jobs, prompting Governor Gary Herbert to declare the recession over in the state. 

Utah’s job growth in April was 3.5 percent, more than double the national average. Over one year, 43,000 jobs have been added. Juliette Tennert is Chief Economist in the Governor’s Office of Management and Budget. 

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Business & Labor
4:53 pm
Tue May 14, 2013

Utah’s Business Deals Topped $11B in 2012

Todd Pedersen will stay on as CEO of Vivint which was sold to Blackstone for more than 2 billion dollars.

Utah’s business mergers and acquisitions reached an all-time high last year. That’s according to a report from the MountainWest Capitol Network to be released on Thursday this week. 

The 2012 Deal Flow Report shows that there were 292 deals, topping 11 billion dollars.  Of those, 110 were mergers and acquisitions of Utah companies. Devin Thorpe is President of the MountainWest Capitol Network, and he says 2012 deals increased more than 60% over the year before.

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