Nestled in the heart of the Intermountain West, the Freeport Center provides businesses world-class manufacturing, warehousing and distribution solutions. It’s home to more than 70 national and local companies. Why have these savvy businesses chosen Utah’s Freeport Center as home? And why are more companies migrating to Utah every year?
Utah boasted the second-fastest economic growth in the nation in 2018, according to a report by Wells Fargo. In fact, Utah has outpaced the national average for the past three years. Throughout the third quarter of 2018, the state’s real gross domestic product—the total value of goods and services produced—grew at an annual rate of 4.4 percent. And that trend shows no sign of slowing.
Low Cost of Living
Utah’s economy is growing, but it remains a relatively inexpensive place to call home. According to a report by the Tax Foundation, Utah ranks number 28 in the nation for cost of living. The study examined the real value of $100 in each state. California ranks among the least valuable, where $100 will only get you $88.18 in goods at the national average. However, Utah ranks among the more valuable states. Here, $100 will actually afford you $103.09 in goods when compared to the national average. This means your dollars do more here than in higher-priced states.
Large Pool of Talent
According to a study by WalletHub, Utah is number nine on the list of most educated states. Educational attainment, school quality and achievement gaps between genders and races were all considered in the study. Why should businesses care about the number of college graduates, school quality and educational equity in Utah? It means there’s a substantial pool of educated workforce in the state available for hire. This makes finding the right employees easier. It also means there’s an ample supply of highly-motivated, innovative minds waiting to propel businesses to new heights.
Free Port State
Utah is considered a “Free Port” state, which means that inventory stored within its boundaries is tax exempt from inventory taxes typically found in many other states. This tax benefit covers all inventory that is shipped to the Freeport Center. Additionally, it covers the inventory when it arrives at its final destination. This provides significant savings to companies whose operations rely heavily on large quantities of inventory.
Outdoor opportunities abound in Utah. From amazing hiking and mountain biking trails to lakes for swimming and boating to incredible fly fishing, Utah has it all. And everyone knows Utah is home to world-class ski resorts, many just a short drive along the Wasatch Front.
But why worry about the outdoor recreation available in Utah? Happy employees are more productive. According to one study, happy employees are 20 percent more productive than their unhappy counterparts. And new research is showing that being in nature makes people more happy. So, it stands to reason that a state with bountiful outdoor opportunities will lead to a happier, healthier workforce.
Why the Freeport Center?
The Freeport Center is 78 buildings on 680 acres—with room for businesses to grow. With access to I-15, Highway 84, railways and a close proximity to the Salt Lake International Airport, the Freeport Center offers an impressive transportation network.
Now imagine manufacturing and storing everything at one location, allowing guaranteed second- or third-morning delivery. Imagine hiring the right employees who help minimize production, transportation and inventory costs, and maximize profits. That’s why more companies are choosing Utah’s Freeport Center.