June 2019 | Vol. 6 Iss. 06
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VERIZON NAMES TAYLORSVILLE A TOP 10 CITY TO OPEN A SMALL BUSINESS
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By Carl Fauver | carlf@mycityjournals.com
C
ommerce is booming in Taylorsville, whether you care to believe the opinion of a national company or hard cold numbers. Perhaps the most objective measure a city can use to determine how its business community is fairing are sales tax revenues. Taylorsville had its best year on record during the fiscal year of July 1, 2017, to June 30, 2018. However, that record will stand only one year. The current year (July 1, 2018, to the end of this month) is expected to be better, with next year projected to be better still. Those are the hard, cold numbers. In the meantime, a new national survey conducted by telecommunication giant Verizon Wireless has also determined Taylorsville to be the eighth-best small city across America in which to start a small business. Ironically, while Taylorsville is eighth overall, it is still only fourth in Utah. Here is the top-10 list. 1 Logan, UT 2 Sarasota, FL 3 Coral Gables, FL 4 South Jordan, UT 5 Doral, FL 6 Cheyenne, WY 7 Lehi, UT 8 Taylorsville, UT 9 Missoula, MT 10 Corvallis, OR “America has become the veritable poster child of the startup era,” Verizon officials stated in a news release announcing the company’s Top-10 selections. “After some research and a bit of computing, Go.Verizon.com has found, the smaller the city, the more room there is to grow.” One of those relatively new Taylorsville businessmen could not agree more. Last summer, Philadelphia, Pennsylvania, transplant Darren Herder opened his A Philly-Aided Barbers business around the corner from FedEx (5608 South Redwood Road). A year later, he said he would do it again in a heartbeat. “The business has been growing each month; we’re keeping busy,” Herder said during a brief break between untrimmed heads. “We now have four full-time employees and about 200 to 250 regular customers. We’ve been able to purchase some new equipment and put some money away. I could not ask for anything better.” In calculating its Top-10 list, Go.Verizon.com investigated several variables in nearly 300 cities across the country, including:
These relatively new businesses — on the northwest corner of Redwood Road and 5400 South — are helping to raise Taylorsville sales tax revenues to record highs. (Carl Fauver/City Journals)
• Population – 50,000 to 75,000 residents, according to Highway keep the economy up and at ‘em. So, make way for the most recent U.S. census figures Taylorsville; it’s coming full-throttle into the economic race.” Herder cited some of his own business success variables. • Education – Percentage of residents over age 25 who “For starters, the crime rate is low,” Herder said. “There have earned a bachelor’s degree or higher are good schools in the area. The economy is strong in Tay• Commute – Average time it takes residents to arrive at lorsville. That helps my business, because when people are their jobs interviewing for jobs — or going to them — they want to look • Income – Average cumulative income of all residents nice. That includes a good haircut.” Herder has also had the opportunity to recommend Tay• Broadband – Percent of residents with internet at runlorsville to other people considering starting a small business. ning speeds of at least 10 Mbps for downloads and 1 “Absolutely, I would locate here again,” he concluded. Mbps for uploads “Taylorsville is a great area, with lots of other good cities • Loans – Number of business loans per capita, indicating around it, like West Jordan, Murray and West Valley City. It’s how easy it is to get startup funding a great place to do business.” • Taxes – Verizon claims lower taxes provide a better City sales tax revenues show that other business owners environment in which to establish new businesses Re- are already getting that message. searchers accessed the Tax Foundation’s 2019 State “Sales tax revenues are a direct indicator of how well Business Tax Climate Index for this measure. businesses are doing in the city,” Taylorsville Chief Financial In its website mention of Taylorsville at No. 8, Go. Ver- Officer Scott Harrington said. “Back in Fiscal Year 2008, the izon.Com states: “Smaller than South Jordan and bigger than city hit an all-time sales tax revenue high of $8.44 million. But Logan, Taylorsville is a happy medium as far as income, com- just a couple of years later, that total fell to $6.716 million, mute time and access to loans goes. Though it shares space because of the recession.” Taylorsville adds to its city coffers roughly one percent with a smattering of other small cities such as West Jordan and Kearns, constant traffic brought in by I-215 and Bangerter of all sales revenue. “It took us until last year (FY2018) Continued Page 5
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