There was a time when you wouldn’t think of Salt Lake City as a hub for major global businesses. But over the past decade, Utah real estate has transformed itself into a thriving commercial market similar to the likes of Silicon Valley. Our state is a sought-after destination where major companies and investors want to work, live, and play. But what exactly makes our state so appealing?
Utah Offers A Good Quality Of Life
“[Utah] has been, and continues to be, a great home for us,” says Anita Grantham, chief people officer at Pluralsight, Inc. According to Ms. Grantham, Pluralsight chose to make a presence in the state back in 2004 due to the overall experience Utah brought the company and their people. “Both our team members who are from Utah and who have relocated here love the lifestyle Utah offers them. They get to enjoy Utah’s low cost of living and high quality of life, spending time outdoors with friends and family, all while doing meaningful and fulfilling work in their careers.”
Pluralsight, Inc. isn’t the only organization looking for a good quality of life. In 2017, a survey from Salt Lake City’s Downtown Alliance discovered that when local organizations were deciding whether to relocate or continue growing in Utah, their number one concern was creating work-life balance for their employees. In other words, in the toss-up between choosing an affordable location or an enjoyable one, enjoyable always wins out in the end.
Utah Has A Strong Business Community
Great culture and picturesque surroundings were a few of the reasons why a global software company like Adobe invested in the Silicon Slopes. “[Utah has] proven to be a solid business decision,” says Jonathan Francom, vice president of employee and workplace solutions at Adobe. “Adobe chose to establish a long-term presence in Utah due to the region’s vibrant communities, business-friendly environment, and its highly-educated and skilled talent base.”
With a business-friendly climate and an atmosphere of great cultural and recreational opportunities, it’s no wonder why today’s market in Utah is competing with other major market cities throughout the United States. Ms. Grantham noted that with so many successful companies making their homes in Utah, it’s no longer just a fly-over state. “We have investors, customers, team members, and technologists from all over the world coming to Utah to meet with the exciting businesses here.”
Utah’s Governor, Gary Herbert, does not see an end to this tremendous growth anytime in the near future. He attributes Salt Lake City’s industrial success to a young, driven, and entrepreneurial workforce that continues to grow throughout the state. Gov. Herbert says he is proud of the culture that Utah and Salt Lake offers to businesses and employees, before noting that the culture here has “an unparalleled quality of life, opportunities for growth, and forward-thinking policies that do not encumber growth and success but encourage it.”
Utah Is Poised For National (And International) Growth
But global tech companies aren’t the only ones attracted to our state. Unlike other secondary markets, Salt Lake City also provides world-class investors with more than just thrilling outdoor activities and stunning mountain views. Incredible stability, low unemployment rates, and a pro-business government are just a few of the elements attracting new employers and investors. Because of this, Salt Lake’s new secondary market has captured the eyes of worldwide commercial real estate investors, including global real estate company, Colliers International.
Colliers International is a Canada-based, top-tier, global real estate service and investment management company. They have more than 13,000 professionals operating in 69 countries, offering commercial real estate services on a local, regional, national, and international basis. But what makes Colliers International so unique is their dedication to maximizing the potential of the communities they serve while staying committed to socially and environmentally responsible business practices. Their overall strategy focuses on doing the right things for their clients, their people, and their communities every single day. And they’ve set their focus on Salt Lake City.
Dylan Taylor, global president of Colliers International, says that choosing to make a name for themselves in Salt Lake City was an important stepping stone in the company’s future. “Establishing a presence in Utah was a top priority for us to further our market-leading position and provide a strong platform for future growth in the region.” Mr. Taylor says that entering the thriving Salt Lake City market has brought Colliers countless opportunities to leverage and expand their talents and services, not only locally but nationally and internationally, as well. “Companies are beginning to turn to secondary and tertiary markets, and the fast-growing intermountain region’s ongoing transformation shows no signs of stopping.”
As Colliers International continues to lead the way as one of the most innovative and entrepreneurial companies, their objective will always remain the same: to elevate the Colliers International platform and create an impact as the number one choice for organizations in Salt Lake City and anywhere they do business. This strong commitment to the Salt Lake business culture will only continue to benefit the future of Utah’s market real estate. “Our continued growth and expansion remain high on our list as we strengthen and diversify our operations across the globe to better serve and accelerate the success our clients and professionals.
There are many reasons why global companies and investors like Colliers International are attracted to Utah and Salt Lake City alone, but it all boils down to one thing: Utah is a wonderful place to start and grow a business. And as long as innovative, forward-thinking organizations like Colliers International bring other world-class companies onboard to make their homes here in Utah, we will continue to experience economic success for years to come as we transform from, as Gov. Herbert says, “’The crossroads of the west’ to ‘the crossroads of the world.’”