Economics

In today’s economic news, agriculture is taking over the headlines. Trade disputes have farmers and ranchers uncertain about the future of their businesses, but one small group of people specializing in complex agriculture economics are working to keep up with the fast-paced markets.

Utah Department of Heritage and Arts

Without a stable home, positive role models and tools for success, many young Americans fall behind their peers and experience a rocky transition to adulthood, according to a new study. These issues not only affect young people later in life, but they also prove harmful to society as a whole.

Utahns Working To Meet The Demand For Locally Sourced Food

Jul 29, 2018
Trends of locally sourced food and sustainable practices have some Utahns working to create a grocery store owned by the customers. 250 cooperative grocery stores are in operation across the U.S. and 150 are in development, including one in Utah.
Moon Flower Co-op

Trends of locally sourced food and sustainable practices have some Utahns working to create a grocery store owned by the customers. 

The U.S. Department of Agriculture announced a $12 billion package is being implemented to shield the US agriculture industry from recent trade disputes.

Utah is getting the attention of large businesses and tech companies as a good place to build a foundation. Data from a recent study found the business environment is also attracting small independent retailers.
NPR.org

Utah is getting the attention of large businesses and tech companies as a good place to build a foundation. Data from a recent study found the business environment is also attracting small independent retailers.

Southern Utah is one of the many locations in Utah used for major films and commercials.
Moab to Monument Valley Film Commission

Utah has been one of the most popular areas in the United States for filmmakers since westerns hit the big screens almost 100 years ago according to experts in the film industry. Is it possible to reap the economic benefits of movies and commercials while preserving Utah’s iconic landscapes used on camera? 

Access to resources have allowed Utah to see its second highest growth in its number of small businesses.
Photorithm

Starting a business is never easy, according officials at the U.S. Bureau of Labor Statistics. Close to a fifth of all startups don’t survive more than one year of operation, and nearly half never make it to their fifth anniversary. But Utah’s economic climate is better than most states in the U.S.

Small business owners in the United States and Utah are looking forward to the next 12 months, according to a recent study. But Utah has dropped in the rankings from number three in the nation to eighth this year for small business optimism.

Black American family, smiling together; Black households tend to fare worse economically despite overall prosperity in Utah
Army Medicine, flickr.com / https://creativecommons.org/licenses/by/2.0/

The nonprofit organization Prosperity Now recently released its yearly economic “scorecard”—a report detailing the economic wellbeing of populations across the U.S. The report said there is a racial divide when it comes to economic security and in areas like Utah, minority groups tend to fare worse than white populations.

Farmers and ranchers are working with the Utah Department of Agriculture and Food to reach the ninety-five percent of the word’s consumers who live outside the U.S.
Brian Champagne

Farmers and ranchers are working with the Utah Department of Agriculture and Food to reach the 95 percent of the world's consumers who live outside the U.S.

Chinese tariffs have some producers worried, but trade with other countries show promise for the future.

Canceling all student loan debt could create more than half of all the jobs created after the Great Recession
Pixabay

Student loan debt in the U.S. has reached $1.4 trillion. That's greater than all credit card debt and also eclipses all motor vehicle loans. 

Researchers at the Levy Economics Institute of Bard College say canceling that debt would be a major boost to the economy. 

Photo courtesy of Little, Brown and Co.

On Monday’s Access Utah, beloved folk singer Dar Williams joins us to talk about her latest book, described as “an impassioned account of the fall and rise of the small American towns she cherishes.”

Dubbed by the New Yorker as "one of America's very best singer-songwriters," Dar Williams has made her career not in stadiums, but touring America's small towns. She has played their venues, composed in their coffee shops, and drunk in their bars. She has seen these communities struggle, but also seen them thrive in the face of postindustrial identity crises.

ww2.kqed.org

Immigration reform groups are working to keep the 13,600 Utahns currently eligible for DACA in the United States. Representatives from the groups said children who immigrated to the U.S. with their parents have a positive impact on Utah’s economy.

Study Underway For Utah Inland Port

Aug 31, 2017
www.scspa.com

Governor Herbert has created an exploratory committee to research the feasibility of an inland port for the state of Utah. Inland ports are designated sites with strong transportation infrastructure and distribution operations. 

Center for American Progress

 

Interior Secretary Ryan Zinke has completed the review of national monuments mandated by President Trump. He has not released his recommendations. The New York Times is reporting that those recommendations include reducing the size of 4 national monuments, including Bears Ears and Grand Staircase-Escalante in Utah. Reports are that Secretary Zinke may recommend a drastic reduction in size for Bears Ears.

"RAISE Act" To Reduce Migrant Workers In U.S.

Aug 10, 2017
NPR.org

The “Reforming American Immigration for a Strong Economy Act” also known as the “RAISE Act,” seeks to reduce the amount of legal immigration to the United States by 50%. One immigration attorney in Salt Lake City is pushing for further discussion about how the act could prevent skilled workers from entering the United States.

Space - The Final Frontier For Business

Aug 10, 2017
wavemagazineonline.com

This week Utah State University hosted the Small Satellite Conference where researchers, government groups, businesses and students gathered to talk about technological advances driving the small satellite commercial market. Experts in the industry said small satellites are energizing the emerging market.

UPR.org

One of the first buildings constructed in Logan was a performance hall, a place where people could gather after work and chores to enjoy family style entertainment and boost the economy.  According to the director of The Cache Valley Center of Arts, Wendi Hassan, that tradition continues today.  

And she has the numbers to prove it.

Retail-Giant Amazon Enters The Utah Marketplace

Jul 11, 2017
businessinsider.com

The Seattle-based online retail giant, Amazon, will be coming to Utah with a new facility. News of the facility are met with both positive and negative reactions. A representative of a smaller online based business in the state is claiming that having Amazon here creates an unfair business advantage for his company and smaller businesses. 

forbes.com

With Independence Day just around the corner, one company did a study to see how financially independent each state is.  Jill Gonzalez, an analyst for WalletHub, said Utah is the second most independent state in the nation - just behind Colorado.

noiseaware.io

After a weekend long party, noise complaints from neighbors and $30,000 later – a company was born. One entrepreneur is changing the growing industry of short-term rentals.

“I can’t say I woke with the idea, what I did wake up with was a problem that led to the idea,” said David Krauss, CEO and co-founder of NoiseAware. He is also an Airbnb host in Dallas with eight rental properties himself

pbs.org


This report is part of NPR and UPR’s A Nation Engagement project focusing on the upcoming elections as it relates to economics.

 

Rob Pyne is now a legal resident of the U.S. But, for him and his wife Tammy Pyne, the job of obtaining legal status was a frustrating one to say the least.