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While some companies are struggling, others say they've diversified enough to see significant growth. But for people who are looking for jobs, is there any good news on the horizon?
The $787 billion stimulus is expected to bring construction jobs to Utah. While we wait for the money to get here, the construction and manufacturing industries have stalled in the state. Analysts say we've lost roughly 13,000 jobs in housing construction, and we could lose even more. So, how is it that a company related to the construction industry could be doing better than last year?
Professional Service Industries Vice President Chris Garris said, "We've been growing. If you look at all of our service lines, as you pile all of those together, we're doing well as we've continued to diversify."
Garris admits some of the company's services are seeing a loss. For instance, their pre-construction services, like soil testing, are down. But their inspection services during construction are increasing. The company isn't noticing this same kind of success outside of Utah.
"PSI in many other areas of the country, just like the other competitors, are experiencing the type of downturn in their individual markets," he said.
People who help businesses move into Utah say interest in the state is just as high as ever.
Economic Development Corporation of Utah CEO Jeff Edwards said, "We've been very pleased to see that the level of inquiry in our office has been almost as high as it was last year. In fact, in some cases, it's higher."
Edwards says population growth and tax credits are attracting companies looking to expand.
"The kinds of companies that we've seen looking here are primarily and distribution type companies. Most of them are well established," he explained.
Edwards says their company has helped bring in or retain 4,000 jobs in Utah since last July.
"That's a real shock to most people. Most people think the economy has gone over the edge and that we should all go run and hide, and it is not happening that way. We've got growth happening here," he said.
He does admit, though, there is definitely a downturn in jobs here, and a damaging lack of confidence in the economy. But he says Utah has an economy that's much sounder than other states.
E-mail: pnelson@ksl.com
