The Freeport Center contributes to Utah’s economy by providing jobs and helping to grow the state’s gross domestic product (GDP) by delivering world-class manufacturing, warehouse and distribution solutions for businesses both large and small.
Utah’s economy is flourishing. In fact, it’s ranked number two in the nation on the 2019 U.S. News Best States list—in large part due to its employment statistics. Utah’s job growth, 2.4 percent, outpaced the national average of 1.2 percent. And Utah topped the list for employment overall, which took into account the Beehive State’s job growth, labor force participation and unemployment rate.
Home to more than 70 national and local companies, the Freeport Center hosts those job-producing businesses critical to Utah’s economic success. From warehouse positions to sales and marketing jobs, the businesses that rely on the Freeport Center’s 680 acres and 78 buildings also count on Utah’s impressive workforce. According to the aforementioned U.S. News Best States report, 44 percent of Utahns are college educated, bringing an impressive set of skills and knowledge to each role. And companies large and small know the value of an educated workforce.
According to federal data released earlier this year, Utah’s GDP—the total value of all goods and services produced—increased by 4.3 percent in 2018, whereas the national growth came in at 2.9 percent. The Beehive State’s 2018 growth was the highest in recent years. The sectors that contributed the most to this growth were professional, scientific and technical services, information and retail trade.
Not only does the Freeport Center contribute to Utah’s growing economy by being home to those job-providing businesses, it also helps these same businesses contribute to the state’s growing GDP.
With its innovative manufacturing, warehousing and distribution solutions, the Freeport Center can help businesses increase their efficiency and production, which in turn contributes to Utah’s $164 billion GDP. Its central location in the middle of major western U.S. markets—with close access to major interstates and highways, railways and airports—makes second- or third-day delivery of goods possible. And, in an era of instant gratification, that’s an indispensable competitive advantage for any company, and one of the most compelling reasons why more companies are calling the Freeport Center home and, in turn, contributing to the Utah economy.
The Freeport Center and Utah enjoy a mutually beneficial relationship. The Freeport Center contributes noticeably to Utah’s burgeoning economy, and the Beehive State is a world-class location for the Freeport Center to provide its tenants with access to a vibrant economy and a talented workforce.
Utah proves to be a formidable business partner for those companies that rely on large quantities of inventory due to its status as a free port state. What is a free port state? It means no inventory taxes are assessed on any inventory stored within the state. And the Freeport Center, with buildings ranging in size from 4,000 to 400,000 square feet, is the perfect partner for any business that relies on efficient production and distribution of goods and services.