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SALT LAKE CITY — Utah is often cited as a success story. Generally speaking, Utahns take pride in the state’s economic performance, sound management and positive attributes. However, success/growth brings its own set of challenges and danger. Without continued action and proactive policy, the state’s future may not be as bright as it could be.
Learning from Texas
A recent article in the Wall Street Journal examined the challenges Texas is facing as it grows. The basic message from the article is that Texas, while growing rapidly, did not adequately plan for its future and is playing catch up in many respects. In short, the state’s infrastructure is insufficient.
Some of the issues mentioned such as lack of water, traffic and transit accessibility are familiar to many residents of Utah. In fact, the article stated that Austin is now one of the five worst metro areas for traffic congestion in the country, and it could be up to 15 years before “high-volume alternatives” will be available.
The article made me wonder, could the same thing happen to Utah? That is a possible danger if the state fails to continue effectively planning for the future.
What kinds of things should Utah be preparing for? Here is a suggested list of major issues such as education, infrastructure, air quality and how best to handle the challenges of changing demographics that should be addressed in Utah.
Planning for the Future
The temptation to enjoy recent accolades can be great for policymakers and citizens alike, but instead of dwelling on our pleasant past, Utahns should focus on how to pass on the state’s success story.
Fortunately, we have a great history of proactively working to make Utah a better place for future generations. Planning and leadership from the Leavitt Administration in the 1990s is paying dividends today and more recently, Governor Herbert kicked off “Your Utah, Your Future”.
In looking back at the arrival of the first Mormon pioneers, the early settlers of modern Salt Lake City almost immediately began planning for the future and working to ensure that those who came behind them enjoyed a better quality of life. The current citizens owe future generations the same consideration.
While it’s easy to support broad ideas such as planning for and investing in the future, the best approach — and how to pay for it — become defining questions. This is something all of us will have the opportunity to weigh in on. While these can be contentious issues, the worst case scenario would be to do nothing. Examples of this exist on a national level; the United States is suffering from policy paralysis and major challenges remain unaddressed. What people must realize is that this too carries a cost.
Policy Failures
Businesses may hold off on investing in equipment or their people due to uncertainty. Drivers waste time and resources in gridlock due to subpar infrastructure. All of this can weigh on economic growth.
Think back to some of the ominous headlines affecting markets and the economy over the last couple of years. Looking at Europe’s debt crisis, the U.S. debt ceiling, and even some geopolitical issues, policy failures are either at fault or exacerbate problems.
While Utah is affected by events and decisions beyond the state’s control, whether or not we create our own problems in the future is entirely up to us. In a competitive, yet volatile and crisis prone world, getting it right matters that much more.
Darin Mellott is a senior research analyst at CBRE, the world's largest commercial real estate services firm. Darin is actively involved in the community independently as well as through corporate initiatives. He is also a member of the Utah Economic Council and sits on the board of directors for the Economic Club of Utah. Outside of work, Darin tries to spend as much time as possible in the mountains or traveling. He tweets at @DarinMellott.
