Estimated read time: 4-5 minutes
- Lehi City Council approved a $32 million bond to support Thanksgiving Point's $60 million STEM center.
- The center aims to attract 700,000 annual visitors and enhance STEM education for children.
- Construction is set to begin in late 2026 with an opening planned for 2028.
LEHI — Leaders at Thanksgiving Point said they plan to build a $60 million science and technology center, which will join seven other venues on the Lehi campus.
Thanksgiving Point CEO McKay Christensen presented the project to the Lehi City Council during its Nov. 18 meeting. The body then approved a bond structure of just over $30 million to help fund half of the future facility's construction costs.
Thanksgiving Point, as it stands, is considered a fixture for travel and tourism revenue in Utah County. Christensen said the facility had over 1.5 million visitors in 2024, ranking it among the top 10 most visited attractions in the state.
Christensen told council members that the organization has attendance projections for the new STEM center, as well.
"We anticipate somewhere around 700,000 visits a year," he said.
The future facility would be built adjacent to Thanksgiving Point's Show Barn. According to the design plans, the Science and Technology Center would include a large space for events such as weddings and other various functions. A lab dedicated to students in the fourth through ninth grades to gain an understanding of how artificial intelligence is used in different industries.
A major part of the new facility is a 60-by-60-by-80-foot Cosm theater screen that takes visitors on an immersive "shared reality" experience, making them feel like they're right where the action is.
The new facility seemingly aims to build on Thanksgiving Point's standing missions of giving kids confidence in themselves in the world of STEM and serving as a gathering place for the community.
"The new center will give every child the chance to see themselves and the world in a new way, in a way that can change their life for good by encouraging curiosity," said Christensen at a 2023 event, when officials at Thanksgiving Point first announced they were looking at building a STEM center.
Christensen said Thanksgiving Point has been committed to providing children, regardless of their family's financial situation, the opportunity to participate in STEM enrichment programs.
"That's why, at Thanksgiving point, any child whose parents are on WIC (or) SNAP benefits — low income, attend any of our 180 STEM labs a week, or any of our science centers, including the one proposed for free," he said.
However, such an undertaking comes with a price.
During the Nov. 18 City Council meeting, Thanksgiving Point asked Lehi to go in as a partner on the project and issue $32 million in sales tax revenue bonds toward the facility.
Thanksgiving Point said it was also working to secure the remaining funds from other sources, such as Utah County, the state, and private donors.
Jason Burningham, of consulting firm LRB Public Finance Advisors, explained that the bond would be paid back by Thanksgiving Point over a period of 20 years, during which the city of Lehi would own the land and the building.
He also noted, in addition to the new facility, Thanksgiving Point is expected to generate around $403 million, to be divided by Lehi, Utah County and the state over the next two decades.
"So in this situation, you really have a $60 million asset that the city would technically own during the lease period, and then $30 million of it would go into the construction with the other $30 million to come in the form of — as I mentioned, grants and participation," Burningham said.
Thanksgiving Point said it will create a $4 million emergency reserve to mitigate the city's risk.
Council members debated the merits of a sales tax bond versus other funding mechanisms.
"This is public dollars that you're asking us to put at risk; it is a risk," said Councilwoman Michelle Stallings, who opposed using sales tax revenue bonds, but not the idea itself. "I love what you're doing — it's great, but is what we should be doing with taxpayer dollars when we have another opportunity, another mechanism, to get you a tax-exempt municipal bond, which would save you money."
Thanksgiving Point said it was seeking the sales tax revenue option, as it uses the city's strong credit rating to further reduce the interest rate. The proposal is said to save the organization just under $7 million.
Councilwoman Heather Newall supported the idea as it yields a creative way to bring more amenities and opportunities to Lehi residents.
"I think we're really blessed here in Lehi to have this amenity that our taxpayers haven't had to pay through Lehigh bonding," she said. "I do have concerns that we are going to have to back this to be able to get that interest rate, but I would rather have that $7 million to $8 million funneled back into Thanksgiving Point to build up more things in Thanksgiving Point, rather than to go into a bank's pocket."
The council approved the measure 4-1, with Stallings dissenting.
The City Council will hold its next meeting on Dec. 16 and invites public comment for those who still want to weigh in on the matter.
In the meantime, if all goes according to plan, Christensen said construction would begin in late 2026, with the new STEM center opening sometime in 2028.
