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The Iron County economic picture

By J. David Westwood, Associate--The Cedar City Area Chamber of Commerce recently held its second annual Economic Summit.  The Summit was well attended and included a full day of workshops, training, and distinguished speakers, including Southern Utah University President Michael T. Benson, Salt Lake Chamber Vice President Natalie Gochnour, and U.S. Chamber Western Region Executive Director Dick Castner.  Much was said about the current state of the economy, and despite the recent unemployment numbers, the presenters seemed optimistic that the economy is on the rebound.  The following are a few interesting facts about the current state of the economy in Iron County and the State of Utah:

·      Eight of eleven total industry categories are currently experiencing growth.

·      Iron County's unemployment rate is 8.7% as of July 2010, up from 8.3% at the end of December.  Utah’s unemployment rate as of July 2010 was 7.2%.

·      Iron County's population grew by approximately 1% in 2009.

·      The total number of building permits issued by Cedar City in 2009 was 263, down from 368 in 2008 and 558 in 2007.

·      According to the Utah Association of Realtors, the number of home and condo units sold in Iron County was up 17.4% for the first six months of 2010.

Thanks to all the people at the Cedar City Area Chamber of Commerce who made the Economic Summit a great success.

Source: 2010 Cedar City Area Chamber of Commerce Economic Summit Information Packet.

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