Economy

Public Funds, Private Endeavors: A Primer on Local Economic Development Incentives in Utah

Written by: Christopher Collard

During the 2019 Utah legislative session, there are at least five bills that directly deal with how local governments award business incentives. Others may indirectly affect local governments’ ability to do so There are several ways to view local incentives. Critics might see them as public subsidies which distort economic growth. Others take a more neutral view, but focus on the funds that local governments forgo to incentivize economic development. Boosters view them as a … Continued

A Level Playing Field? Funding for Utah Students at Risk of Academic Failure

Written by: Shawn Teigen

The Governor’s Education Excellence Commission, led by Governor Herbert, voted to focus its efforts in 2018 on “providing support to students at risk of academic failure.” It suggests a strategy for the Utah Legislature to “consider additional state funding … based on student risk factors.” Demographic and economic factors can affect the cost of promoting academic success. Lower household income, disability status and lower English fluency can all be rough indicators of the need for … Continued

The Education Tax: Income Taxation in Utah

Written by: Christopher Collard

The income tax is one of the legs of Utah’s “three-legged stool” of tax revenues, along with the property and sales taxes. It is the largest of the three in 2017, bringing in approximately $3.6 billion. While federal income taxes are often a target for jokes on complexity, Utah’s state income taxes are relatively straightforward. Income taxes are a frequent focus for those who want increases for education on the one hand and those who … Continued

Considering a Cut to Utah’s Income Tax

Written by: Christopher Collard

State lawmakers are currently considering a small personal and corporate income tax cut for Utahns that would reportedly reduce the state income tax from 5% to 4.95%. Lawmakers are considering these tax cuts in light of large revenue growth from the income tax on top of a one-time windfall as a result of the recent federal income tax overhaul. This brief addresses the impact of the personal income tax cut on households. Based on data … Continued

The Essential Tax: Property Taxation in Utah

Written by: Christopher Collard

Property tax is one of the legs of Utah’s “three-legged stool” of tax revenues, along with the income and sales taxes. During the nineties and early aughts, the property tax was the smallest revenue generator of the three. However, with the 2008 income tax reform and the erosion of sales tax revenues, the three have been more equal, with the property tax bringing in approximately $3.3 billion in 2016, compared to $3.6 billion for income … Continued

Utah’s Coal Counties Part III: Coal Communities

Written by: Shawn Teigen

Governor Gary Herbert is looking to create 25,000 new jobs in Utah’s 25 non-Wasatch Front counties by 2020. There is certainly a broad and deep effort toward this end. The Utah Legislature has passed bills to bolster economic development, and there are numerous state agencies involved in the effort. Several public-private partnerships are working on rural job creation, as are non-profit and for-profit entities. The federal government is also involved. Utah’s more-rural counties themselves are leading this effort. One of … Continued

United Way of Treasure Valley 2017 Community Assessment

Written by: Shawn Teigen

In 2016, the United Way of Treasure Valley retained Utah Foundation to perform a Community Assessment of the United Way’s three-county service area. Work was completed in 2017. The Community Assessment is seen as a foundation to achieve community goals. For the assessment, Utah Foundation analyzed community data as indicators of community success, barriers to reveal hindrances to community success, and opportunities as potential solutions to barriers. To inform the assessment, Utah Foundation held focus groups … Continued

Help Wanted: Workforce Participation, Wages, Job Desirability, and Skills Gaps

Written by: Christopher Collard

In a December 2015 Utah Foundation Report, 71% of 151 major local employers reported some level of difficulty finding enough skilled or qualified employees. One-third claimed the worker shortage was the single greatest factor impeding their growth, and an overlapping but not identical third reported the scarcity of skilled workers as the worst quality of Utah’s labor pool. More recent data indicate the trend has not changed. An analysis of Utah’s worker shortage identifies four principal contributing issues: a … Continued

Utah’s Coal Counties Part II: Coal Mines, Jobs, and Economic Benefit

Written by: Shawn Teigen

Utah’s economic benefit from coal mining and coal-fueled electricity generation is substantial, estimated at nearly three billion dollars. Most of Utah’s coal is produced from mines in a few rural counties. Most of the coal extracted is used to generate electricity at power plants in the state. While coal mining and coal-fueled electricity generation only provide direct employment to about 2,500 Utahns, this equates to over 5% of the 50,000 nonfarm jobs in seven rural … Continued

Utah’s Coal Counties Part I: Coal Energy, Production, and the Future

Written by: Shawn Teigen

Most coal consumption in the United States is for electricity generation. However, coal-fueled electricity’s share of the total has been decreasing. This is due in large part to the availability of low-cost natural gas, stringent environmental regulations that affect coal-fueled power plants, and favorable tax treatment for renewable technologies. Coal-fueled power plants have been closing and others are reducing their total output. As a result, coal production is also decreasing. Utah is one of only six states that gets … Continued