2019 Point of the Mountain Chamber Crossroads of Utah Business

Lehi Economic Development What makes Lehi a great place to live and do business?

Local residents know the secret sauce — family, values and heritage. But now, Lehi has been found, and growth is inevitable. In fact, Lehi was the seventh-fastest growing city in the state in 2018 with the addition of nearly 3,000 residents. Estimates calculate that Lehi’s population will be over 100,000 by 2030.

So, why Lehi? With its central location along the Wasatch Front, it has become an employee epicenter, and with acres of available land and a growing retail base, Lehi is becoming the ideal place for business and residents. The city offers Class A office space, shopping, housing, parks and trails, beautiful scenic views and growing opportunities.

The State of Utah touts Lehi as “Silicon Slopes” (likened to Silicon Valley in California) because of the many tech companies that now call Lehi home. With companies like IM Flash, Adobe, MX, Microsoft, Snapchat and so many others, Lehi is the hotbed for technology in Utah.

Lehi’s convenient location allows companies to draw employment from the best universities in the state. In fact, the University of Utah is ranked top in the nation for entrepreneurial technology startup companies, and Brigham Young University is in the top five. Employers have access to the best graduates from the University of Utah, Utah Valley University and BYU. Along with business comes a growing demand in housing. Estimates show that one-third of a company’s employees will reside within the city in which the company is located. In 2018, Lehi added 1,052 new single-family homes, which is a 166 percent increase over 2017. Lehi is also seeing a surge in multi-family housing. Housing growth is expected to exceed those numbers in 2019.

The final piece to economic growth is availability of goods and services. Lehi City has also seen substantial growth in retail, which has resulted in sales tax growth year after year. The Outlets at Traverse Mountain, car dealerships, numerous grocery stores, casual dining restaurants and many other businesses all contribute to Lehi’s sales tax base. Growing sales tax is a sign of a healthy economy as residents have expendable income to purchase these services.

According to “Only in Your State,” Lehi is the fourthbest city to live in and is the “Best Utah Place for Young Families.” While the city is growing exponentially, all economic indicators show the growth is healthy and controlled. The key to Lehi City’s success is indeed the secret sauce — placing emphasis on family, values and heritage.

Lehi City is definitely “where it’s at.”

Marlin Eldred Lehi Economic Development Director 2019 • Point of the Mountain Chamber • 17