Latest Research
Ivory-Boyer Construction Report, Third Quarter 2020
Construction activity continued its momentum into the third quarter. Total permitted construction reached $8.01 billion for the period of January through September, a record and an increase of 9.4% from the same time period last year (Table 1). Residential construction values also set a record, increasing 10.7% from 2019 to $4.9 billion. Nonresidential construction overcame its slump in the first half of the year.
The Impact of High-Density Apartments on Surrounding Single-Family Home Values in Suburban Salt Lake County
New, dense housing continues to be a point of conflict in growing communities as concerns over negative impacts to home values dominate the discussion. This study quantifies how new apartment construction has impacted single-family home price acceleration over the last decade.
Shifting Foundations: A Contemporary History of Utah Households
Utah’s signature demographics have long distinguished its households in the national context. Long-term social, economic, and demographic trends continue to shape Utah’s households over time.
Utah’s Economically Disadvantaged Students: A review of the data and the role of education
Many Utah children face economic hardship leading to significantly worse educational results. Targeted funding for this population can improve academic achievement, enhance economic outcomes, provide a multitude of societal benefits, and ensure Utah's future success.
The State of Utah’s Travel and Tourism Industry, February 2020 (Tri-Fold Brochure)
In 2019, travelers and tourists spent a record $10.06 billion in Utah. Nonresident visitors spent $8.62 billion of that (85.7%) with the largest shares spent on transportation, lodging, and dining. Additional nonresident visitor purchases included retail and groceries, as well as arts, entertainment, and recreation–related activities.
Utah Travel & Tourism County Profiles, 2019
Visitor spending generated $336.9 million in direct tax revenue, including $191.9 million in state and $145.0 million in local tax revenue. Visitor spending generated approximately $111.5 million in additional indirect and induced state and local tax revenue, for a total of $448.4 million.
February 2021 Utah Consumer Confidence
Our survey shows an increase in consumer sentiment among Utahns between January and February 2021. This increase is driven by sharp gains in sentiment among females, those with college degrees, and particularly females with college degrees. A similar survey by the University of Michigan concerning all Americans finds sentiment fell during the same time period.
U.S. Census Bureau 2015-2019 5-Year American Community Survey Estimates
The American Community Survey (ACS) is an ongoing survey that provides information on communities’ social, demographic, and economic characteristics. The ACS began in 2008 and replaced the Census Long Form in 2010. Each year, the Census Bureau provides a new update to both the 1 and 5-Year Estimates.
2021 Economic Report to the Governor
The Utah Economic Report to the Governor serves as the preeminent source for data, research, and analysis about the Utah economy. This 2021 version marks 33 consecutive years of publication. The report provides timely and relevant data and analysis about economic indicators, as well as a focus on critical industries in the state of Utah. The improved economic understanding and literacy helps decision-makers make economically informed decisions and helps Utah to prosper.
2021 Economic Report to the Governor: Highlights
Utah’s decade long expansion, the longest on record, ended in 2020 with the emergence of COVID-19. The public health crisis presented the greatest challenge to the Utah economy since the Great Recession. In the early spring, the forecast for 2020 was bleak as the unemployment rate in April climbed to roughly 10%. But as the year unfolded, the resiliency of the Utah economy was on full display. By November, Utah’s year-over employment was down only 0.2%, the smallest employment decline of any state, and the unemployment rate had dropped to 4.3%. Nationwide employment was down by 6.0%, and the unemployment[...]