SCORECARD
Utah's High Tech Jobs
There is no NAICS code specific to high-
technology. Utah's Governor's Council of Economic
Advisors created a high-technology definition several
years ago, and that is the definition employed here.
Applying that yardstick, Utah's technology
community-as measured by employment-is
growing, but hasn't made a dynamic comeback yet
from the employment losses experienced earlier this
decade.
High-technology employment in Utah peaked in
December 2000 at 67,700. Then followed what some
call the "dot com" bust, and employment fell by 17
percent to 56,300 by March 2003, the business cycle's
low point.* Thereafter, high technology employment
started its slow rebound, and as of the end of 2006
had risen to 65,000-just 4 percent below its previous
December 2000 peak. However, even though the
industry is growing, it still hasn't regained its overall
position in the Utah economy. Whereas in December
2000 high-technology employment accounted for 6.1
percent of all Utah employment, it currently stands at
5.2 percent, the same share it had declined to by
March 2003.
The largest high-technology industries in Utah are
computer systems design, aerospace, medical
equipment manufacturing, and software development.
The overall Utah economy grew by 4.9 percent in
December 2006. If we remove the high- technology
portion of employment and recalculate state
employment growth, it remains at 4.9 percent. This
suggests that although high-technology employment
is growing, it is largely treading water, keeping pace
with the overall economic flow. It is currently not a
leader within the Utah economy. That is currently
being spearheaded by other industries.
Males account for 70 percent of the high-
technology labor force. Females do outnumber males
in the medical equipment manufacturing sector, but
that is the only area. Ignoring gender and looking
instead at age distribution, it is largely a normal
distribution with a slight bend towards the young.
Looking at ten-year age groups, those 25 to 34 make
up 29 percent of the labor force, the largest
percentage within any ten-year age distribution.
Utah's High Tech Jobs
- High Tech represent 5.2% of the State-Wide
Employment High Technology
Total
- A total of 64,962 are employed in High
Technology
- The "Top Ten" represent 92% of the
State-Wide High Tech Employment
- The "Top Five"
represent 2/3rds of High Tech Employment
Rank | Sector |
# Employed | % of Total High
Tech | Cumulative Total |
1 | Computer Systems Design
| 13,982 | 21.5% | 21.5%
|
2 | Aerospace
| 8,054 | 12.4% | 33.9%
|
3 | Engineering Services
| 7,693 | 11.8% | 45.8%
|
4 | Medical Equipment
Mfg. | 7,594 | 11.7%
| 57.5% |
5 | Software
| 5,368 | 8.3% | 65.7%
|
6 | Physical, Engineering,
Biological Research | 4,106 | 6.3%
| 72.0% |
7 | Semiconductor Components
Mfg. | 3,601 | 5.5%
| 77.6% |
8 | Electrical Instrument
Mfg. | 3,379 | 5.5%
| 82.8% |
9 | Communications Equip.
Mfg. | 3,084 | 4.7%
| 87.5% |
10 | Internet Service
Providers | 2,826 | 4.4%
| 91.9% |
11 | Motion Picture Production
| 1,691 | 2.6% | 94.5%
|
12 | Testing Laboratories
| 1,251 | 1.9% | 96.4%
|
13 | Wireless
Telecomm | 805 | 1.2%
| 97.6% |
14 | Computer Equip.
Mfg. | 605 | 0.9% | 98.6%
|
15 | Carbon Graphite
Mfg.. | 508 | 0.8% | 99.4%
|
16 | Optical Lens Mfg.
| 152 | 0.2% | 99.6%
|
17 | Satellite
Telecomm | 114 |
0.2% | 99.8% |
18 | Other
Telecomm | 82 | 0.1%
| 99.9%
|
19 | Postproduction
| 42 | 0.1% | 100.0%
|
20 | In-Vitro Diagnostic
Mfg. | 25 | 0.0% | 100.0%
|
Source: Source: Governor's Council of Economic
Advisors; Utah Department of Workforce Services,
2007
Federally financed R&D expenditures at
universities and colleges, ranked by FY 2005
expenditures: FY 2005 (Dollars in thousands)
Rank | Institution |
2005 ($000) | % of Total |
| All
Institutions | 29,167,128 | 100%
|
1 | Johns Hopkins
U. | 1,277,292 | 4.38% |
2 | U.
WA | 606,317 | 2.08% |
3 | Stanford
U. | 574,675 | 1.97% |
4 | U. of MI all
campuses | 554,516 | 1.90%
|
5 | U. of WI
Madison | 477,582 | 1.64%
|
6 | U. CA. Los
Angeles | 469,889 | 1.61%
|
7 | U.
PA | 465,284 | 1.60% |
8 | U. CA. San
Diego | 463,946 | 1.59%
|
9 | MA Institute of
Technology | 457,235 | 1.57%
|
10 | Columbia U. in the City of
NY | 453,188 | 1.55% |
25 | U.
AZ | 292,811 | 1.00% |
55 | U.
UT | 168,652 | 0.58% |
101 | UT State
U. | 92,660 | 0.32% |
201 | Brigham Young U. all
campuses | 16,878 | 0.06%
|
Source: Source: Source: National Science
Foundation, 2007
Dept of Health and Human Services Financed R &
D:
- # 47, U. UT - $117,752
- # 148, UT State U - $11,518
- # 198, Brigham Young U. all campuses -
$3,461
Dept of Defense Financed R & D:
- # 22, UT State U - $23,823
- # 130, Brigham Young U. all campuses - $4,872
- # 140, U. UT - $4,310
Dept of Energy Financed R & D:
- # 24, U. UT - $10,526
- # 125, UT State U - $1,417
- # 112, Brigham Young U. all campuses - $1,958
National Aeronautics and Space Administration
Financed R & D:
- # 8, UT State U - $30,155
- # 147, U. UT - $1,152
- # 189, Brigham Young U. all campuses - $543
National Science Foundation Financed R & D:
- # 55, U. UT - $19,166
- # 120, UT State U - $5,217
- # 138, Brigham Young U. all campuses - $4,188
US Dept of Agriculture Financed R & D:
- # 20, UT State U - $14,265
- # 107, Brigham Young U. all campuses - $590
- # 188, U. UT - $101
Source: National Science Foundation, 2007
http://www.nsf.gov/statistics/nsf07318/content.cfm?
pub_id=3767&id=2
''Suppies''
Suburbs Are Graying Faster Than Big
Cities
America's suburbs, historically a haven for young
families with children, are aging more rapidly than the
nation's central cities as the first suburban generation
grows older.
At the same time, there are early signs of a
possible trend of wealthier and more educated older
suburbanites moving to the cities.
Those findings in a report released by
the Brookings Institution, a nonpartisan research
group, suggest that in most places, the fastest growth
in elderly populations will result from the aging of baby
boomers already living there, rather than from an
infusion of retirees.
The over-65 population in Georgia is projected to
rise more than 40 percent in the decade beginning in
2010 as residents grow older, but only 3 percent as a
result of migration.
Florida still attracts the most elderly migrants. But
the fastest overall growth of elderly people over the
next two decades is projected for Georgia and Arizona,
the slowest in Pennsylvania and New York.
The Brookings study forecast widening age
disparities between cities and increasingly older
suburbs by 2040 in, among other places, Chicago,
Los Angeles and Philadelphia.
''Suburbs, which previously were considered youthful
and family-friendly parts of America, will, as more
seniors age in place, become a fast-graying part of
our national landscape,'' said William H. Frey, a
Brookings demographer.
Around New York City, the proportion of people 65
and older in the suburbs surpassed the city's share in
the 1980s. The city itself remains a mecca for
younger job-seekers, and the influx of foreigners and
higher fertility rates among immigrants have also
been a brake on the rising median age (which ranges
from under 32 in the Bronx to nearly 41 in Nassau
County on Long Island).
''New York was a leader in postwar
suburbanization and is now leading the trend toward
suburban aging,'' Dr. Frey said. An earlier exodus of
baby boomers, coupled with a continuing migration of
older people, mean that the elderly population in New
York State is expected to grow at a slower rate than in
any other state from 2000 to 2040.
Dr. Frey said the extraordinary growth in the
number of Americans from 55 to 64 will fuel a ''senior
tsunami'' beginning in less than four years when the
first baby boomers turn 65.
The greatest growth in the 55-to-64-year-old group
has been in the West and in Sun Belt metropolitan
areas (including Atlanta; Austin, Tex.; Las Vegas;
Phoenix; and Raleigh, N.C.) -- areas that, like the
suburbs, were previously known for younger
populations -- and in New Hampshire and Vermont,
which have lured mobile workers attracted by the
scenic beauty and small-town amenities.
From 2000 to 2010, the population in that age
group is projected to rise across the board, ranging
from an increase of 80 percent in Arizona to a still
robust 33 percent increase in New York.
Since 2000, the fastest growth in that population
was registered in states that also recorded the most
job growth. The slowest was in Rust Belt areas that
had already hemorrhaged jobs.
The new demographics of aging present unique
opportunities and challenges, both for the elderly and
for their neighbors. While New York, Washington,
Boston, San Francisco and Chicago, among others,
may appeal to aging suburbanites, smaller cities and
metropolitan areas are also marketing themselves as
magnets for urban professionals ages 65 to 74,
or ''suppies,'' many of whom are still working
and who
tend to be healthier and wealthier than other older
people.
Dr. Frey said the increasing share of the elderly in
the suburbs will place new demands on housing,
health care, transportation and social services.
Source: New York Times, 2007
What is a ''Suppie''?
An aging suburbanite, age 65 to 74
Where Are the ''Suppies''?
Ranked by 2007 Population
Rank | City | #
65-74 2007 | # 65-74 2012 | Ave
HH Income 65-74 2007 |
1 | Salt Lake
City | 7,800 | 8,600 | $71,
472 |
2 | St
George | 5,764 | 6,690 | $
51,728 |
3 | West
Valley | 4,653 | 5,312 | $6
0,201 |
4 | Ogden | 3,624 |
3,827 | $55,614 |
5 | Sandy | 3,250 |
4,000 | $84,302 |
6 | Bountiful | 3,250 | 3,120 | $78,481 |
7 | Provo | 3,104 |
3,590 | $65,736 |
8 | Orem | 3,070 |
3,420 | $71,553 |
9 | Taylorsville |
2,550 | 2,840 | $60,595 |
10 | Layton |
2,280 | 2,500 | $68,461 |
11 | Murray |
1,849 | 3,797 | $68,341 |
12 | West
Jordan | 1,804 | 2,182 | $
81,676 |
13 | Cottonwood
Heights | 1,692 | 1,834 |
$82,285 |
14 | Logan | 1,371 |
1,451 | $80,241 |
15 | South
Jordan | 1,175 | 1,544 | $
109,484 |
16 | Brigham
City | 1,142 | 1,110 | $54,
665 |
17 | Holladay |
1,100 | 1,130 | $98,635 |
18 | Cedar
City | 881 | 993 | $54,371
|
19 | Farmington |
560 | 740 | $73,448 |
20 | Vernal | 516 |
556 | $40,782 |
nr | Park
City | 398 | 546 | $97,318
|
Source: U.S. Census, ESRI BIS, Bonneville
Research 2007
Where the ''Suppies'' Have Money!
Top 5 Income
- South Jordan - $109,484
- Holladay - $98,635
- Park City - $97,318
- Sandy - $84,302
- Cottonwood Heights - $82,285
Where the ''Suppies'' Will Be!
Top 5 Growth Rate
- Murray - 105.4%
- Park City - 37.2%
- Farmington - 32.1%
- South Jordan - 31.4%
- Sandy - 23.1%
Where the ''Suppies'' Are Leaving!
Bottom 2 Growth Rate
- Bountiful - (-4.0%)
- Brigham City - (-2.8%)
Source: U.S. Census, ESRI BIS, Bonneville Research
2007
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Greetings!
- Utah's High Tech Jobs
- Utah's Universities R & D Rankings
- Where are the "Suppies"?
- Economic notes
- This weeks leads
Bob Springmeyer
Bonneville Research
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Economic Notes: |
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Economic Notes:
- Global Business Confidence
- Global business confidence remained unchanged
and uninspiring at the end of June. Sentiment is
measurably stronger than it was at its low point at the
start of the year, but it remains soft and has not
materially changed in over three months. Confidence
remains consistent with an economy that is
expanding at just below its potential, particularly in the
U.S. South American businesses are the most
upbeat, as are financial services firms. As has been
the case for sometime, vehicle manufacturers and
European businesses remain the least
optimistic.
- ABC News/Washington Post Consumer
Comfort Index
- After flirting with its low for the year last week,
consumer confidence mounted a comeback in the
latest period. The ABC News/Washington Post
consumer comfort index gained five points to -7 in the
week ending July 1. The latest improvement puts the
index at a seven week high. The details were
particularly upbeat with all three underlying
components rising over the week.
- Global Semiconductor Sales
- Global semiconductor sales rose by 1.2% in May
to $20.3 billion on a three-month moving average
basis. As such, sales remain 2.4% higher than in May
2006. Sales grew in all regions, aside from Europe,
during the month.
- Factory Orders (M3)
- New orders for manufactured goods fell a smaller
than expected 0.5% in May. New orders for durable
goods fell 2.4%, an upward revision from the
previously published 2.8% decline. Nondurable goods
orders rose 1.6%-a much larger than expected
increase; petroleum and coal products shipments led
the way.
- ISM Non-Mfg.Index
- Business activity in the non-manufacturing
sectors of the economy continues to defy expectations
and accelerate, rising one point to 60.7% in June, the
fastest pace of growth since April 2006.
- Employment Index
- The Monster Employment Index decreased three
points in June, with a reading of 186 compared to 189
in May. The details of the report were also softer, as
most industries and occupations did not increase
during the month.
- Jobless Claims
- U.S. initial jobless claims increased by 2,000 to
318,000, in line with expectations for a mild gain.
- Consumer Spending
- Spending patterns of consumers stayed "choppy"
during June and increased only 0.1% in the week
ended June 30 -- up 2.5% from the same week a year
earlier, according to the International Council of
Shopping Centers and UBS Securities. ICSC chief
economist Michael Niemira said sales for the fiscal
month of June were now expected to increase 1.5% to
2% -- slightly slower than the earlier prediction of 2%.
- Chain Store Sales
- Chain store sales rose a scant 0.1% in the week
ending June 30 as lower gasoline prices provided
some support to demand. Year-over-year growth
improved to 2.5%, the best growth in five weeks, as
comparisons eased.
- Vehicle Sales
- U.S. vehicle sales fell to their lowest pace of the
year; sales on a seasonally adjusted annualized
basis fell to 15.6 million, bringing the average for the
year down to 16.3 million units (SAAR). The market
share of U.S. brand vehicles fell to its lowest ever -
only 50.7%. U.S. manufacturers blamed this on a shift
away from low margin rental vehicles.
- Case-Shiller Home Price Indices
- For the first quarter of this year, the Case-Shiller
repeat-purchase house price index is down on a year-
ago basis by 1.4%, confirming the weakening in the
housing market evident in the Realtors' median price
as well as the OFHEO's repeat-purchase index. The
CSW price index paints a slightly weaker picture than
either of the other two measures of prices. Regionally,
the Mountain states are performing the worst, with the
Pacific and New England states also quite weak.
- MBA Mortgage Applications Survey
- Mortgage demand increased 0.1% in the week
ending June 29. Purchase applications increased
2.0% and refinance applications decreased 2.6%. The
mortgage applications survey is not signaling a
bottom to the housing market.
- Oil and Gas Inventories
- Crude oil inventories soared by 3.1 million barrels
for the week ending June 29, according to the Energy
Information Administration, dwarfing expectations of a
0.3 million barrel build. Gasoline stocks rose by 1.8
million barrels, defying expectations of a 0.3 million
barrel build. Refinery activity improved yet again
increasing 0.6% to 90.0%. Distillate inventories rose
by 1.2 million barrels, exceeding expectations of a 0.1
million barrel uptick. This report will exert downward
pressure on crude oil prices.
Source: Economy.com
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This Weeks Leads: |
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- Olympia Sports
- Olympia Sports, a 163-unit chain operates
locations throughout CT, MA, ME, NH, NY, PA, RI and
VT.
- The sporting goods centers occupy spaces of
3,500 sq.ft. to 5,000 sq.ft. in malls, power, specialty
and strip centers.
- Growth opportunities are
sought throughout the existing markets during the
coming 18 months.
- Typical leases run five years.
A vanilla shell and specific improvements are
required.
- Preferred cotenants include grocery
stores, Target, T.J. Maxx, Staples and Wal*Mart.
- Preferred demographics include a population of
45,000 within three miles earning $40,000 as the
average household income.
- Major competitors
are cited as Dick's Sporting Goods and Sports
Authority.
- Send site submittals to:
-
Carla Manganello,
- Olympia Sports,
- 5 Bradley
Drive,
- Westbrook,
- ME 04092;
- Web site:
www.olympiasports.net
- Daily Grill and The Grill on the Alley
- Grill Concepts, Inc. trades as Daily Grill and The
Grill on the Alley at 28 locations throughout CA, IL, MA,
MD, OR, TX, VA, WA and Washington, DC.
- The
restaurants occupy spaces of 5,000 sq.ft. to 8,000
sq.ft. in freestanding locations, malls, hotels, offices,
mixed-use and specialty centers.
- Growth
opportunities are sought throughout major metro
markets in AZ, CA, CT, FL, MA, ME, NH, NV, RI, TX, VT
and WA during the coming 18 months.
- Typical
leases run 15 years with options.
- Specific
improvements are required.
- For more
information, contact
- Robert Chais,
- Grill Concepts, Inc.,
- PO Box
356,
- El Segundo,
- CA 90245;
- Web site:
www.dailygrill.com.
- PacSun
- Pacific Sunwear of California, Inc. trades as
PacSun at 875 locations nationwide and throughout
PR.
- The shops, selling surfing and skating
apparel, occupy spaces of 4,000 sq.ft. in outlet and
lifestyle centers as well as malls.
- Plans call for 15
openings nationwide during the coming 18 months.
- Preferred cotenants include Abercrombie,
Hollister, American Eagle, Aeropostale and Journey's.
- Competition includes retailers targeting
teenagers.
- Typical leases run 10 years.
- Preferred demographics include a population of
300,000 within a 10-mile radius earning an average
household income of $60,000.
- For more
information, contact
- Linda Eddy,
- Pacific
Sunwear of California, Inc.,
- 3450 East Miraloma
Avenue,
- Anaheim, CA 92806;
- Web site:
www.pacificsunwear.com.
- Moe's Southwest Grill
- Moe's Southwest Grill operates 350 locations
nationwide.
- The restaurants, offering burritos,
fajitas, nachos, salads and tacos, occupy spaces of
1,700 sq.ft. to 3,000 sq.ft. in endcaps, entertainment,
lifestyle, power and strip centers and urban/downtown
areas.
- Growth opportunities are sought
throughout Monmouth and Ocean counties in NJ and
New York and Westchester, NY during the coming 18
months, with representation by Schuckman Realty,
Inc.
- For more information, contact
- Ari
Malul, Schuckman Realty, Inc.,
- 7600 Jericho
Turnpike,
- Woodbury, NY 11797;
- Web site:
www.schuckmanrealty.com.
- Buffalo Exchange and Buffalo Kids
- Buffalo Exchange, Ltd. trades as Buffalo Exchange
and Buffalo Kids at 33 stores throughout AZ, CA, CO,
IL, LA, NM, NV, NY, OR, PA, TX and WA.
- The stores,
selling new clothing and buying, selling and trading
used clothing, occupy spaces of 3,000 sq.ft. in strip
centers and freestanding locations.
- Growth
opportunities are sought throughout IL, NE and TX
during the coming 18 months.
- The company is
franchising.
- For more information, contact
- the Director of Real Estate,
- Buffalo
Exchange, Ltd.,
- 203 Helen Street,
- Tucson, AZ
85705;
- Web site: www.buffaloexchange.com.
- H & M
- Hennes & Mauritz LLP trades as H & M at 70
locations throughout CA, CT, DE, IL, IN, MA, MD, MI,
NH, MN, NJ, NY, OH, PA, RI, VA, WI and Washington,
DC.
- The shops, selling fashion items at discount
prices, occupy spaces of 7,000 sq.ft. to 30,000 sq.ft. in
malls and downtown/urban locations.
- Growth
opportunities are sought throughout the eastern
midstates and southern regions of the U.S. during the
coming 18 months.
- For more information,
contact
Michael - Oliverio, Hennes & Mauritz
LLP,
- 47 West 34th Street, Third Floor,
- New
York, NY 10001;
- Web site: www.hm.com.
- Larry's Giant Subs
- Larry's Giant Subs operates 105 locations
throughout AL, FL, GA, SC, TN, TX and WV.
- The
restaurants, with sit down, take-out and delivery
services and offering subs, sandwiches and salads,
occupy spaces of 1,400 sq.ft. in freestanding locations
and strip centers.
- Growth opportunities are
sought nationwide during the coming 18 months.
- Typical leases run five years with options.
- For
more information, contact
- Larry or Mitch
Raikes,
- Larry's Giant Subs,
- 4479 Deerwood
Lake Parkway, Suite 1,
- Jacksonville, FL 32216;
- Web site: www.larryssubs.com.
- Cajun Café, China Max and Little Tokyo
- Magic Wok Management trades as Cajun Café,
China Max and Little Tokyo at 200 locations
throughout AL, CA, CO, CT, FL, GA, IL, IN, KS, KY, LA,
MA, MI, MN, MO, MS, NC, ND, NJ, NV, NY, OH, OK, OR,
PA, RI, SC, SD, TN, TX, UT, VA, WA, WI,
Washington, DC and Puerto Rico.
- The Chinese
and Japanese fast food restaurants occupy spaces of
600 sq.ft. to 800 sq.ft. in malls, entertainment centers,
colleges and universities, in addition to downtown
areas.
- Growth opportunities are sought
nationwide during the coming 18 months.
- Typical
leases run 10 years.
- For more information, contact
David Wu, - Magic Wok Management,
- 3421
North Lakeview Drive, Suite 168,
- Tampa, FL
33618;
- Web site:
www.magicwokmanagement.com.
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BONNEVILLE RESEARCH - People, Passion & Pride |
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Successful client work requires a superior team of
outstanding people working fluidly together.
Bonneville Research is committed to excellence.
We work to help clients achieve enduring results
and improve the communities in which we live.
BONNEVILLE RESEARCH
Bonneville Research is a Utah-based consulting
firm providing economic, financial, market and policy
research to public and private sector clients
throughout the intermountain west.
Our services include:
- Financial Analysis
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Analysis and Budgets
- Strategy and Policy Analysis
- Economic and Fiscal Impact Analysis
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Each of our studies is tailored to address the
unique needs of our clients and their communities.
If we can help, please call or email us at
- Bob
- 801-364-5300
- BobSpring@BonnevilleResearch.com
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- 801-746-5706
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JonSpring@BonnevilleResearch.com
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