Jumpstarting Provo’s Economy
During the next few years, Provo has the unique opportunity to become a hub of technology and entrepreneurialism. By attracting tech companies to our city, we’ll jumpstart the local economy and create new jobs in every sector.
It’s time for the city council to focus on encouraging local business rather than competing with the private market.
The Facts:
- Utah in general is becoming an increasingly popular place for the tech industry. The state currently has over 5,000 technology companies employing 66,000 people. (See: Deseret News)
- Even during the recession, Utah’s tech companies have continued to grow. Between September 2007 and September 2008, marketing consulting grew 19.5% and information services grew a whopping 41.2%. (See: Utah Tech Council)
- Technology professionals contribute to the local economy. The overall Utah tech industry payroll is over $3.3 billion. The average tech company salary is 58% higher than Utah’s average annual non-agricultural wage. (See: Deseret News)
- According to Novell CEO Ron Hovsepian, tech companies are choosing Utah because of our “fantastic engineers that are innovative leaders, workforce with skills beyond technical ability, good balance of the right type of workers with professionalism and values, and low-cost data center facilities.” (See: Utah Tech Council)
- Instead of attracting these tech companies to Provo, previous councils made the mistake of undertaking a speculative tech venture themselves. The iProvo internet fiasco ended up wasting over $8 million. (See: Reason Foundation).
The Sterling Solution
Tech businesses are bringing their money to Utah and we want to be sure that many of them make Provo home.
If we want to make sure companies choose Provo, we need to stop driving them away with overbearing legislation. I have over a decade of experience working with the tech industry and know how to make this happen. As a council member, I’ll work to jumpstart our local economy by supporting programs and policies that make it easy for businesses to start or relocate here. I’ll also use my influence to ensure that the council remembers the proper role of government, focusing on supporting businesses rather than entering into ventures that are better left to private enterprise.
Bringing tech companies to Provo will benefit everyone. We’ll see more jobs and more business tax revenue for city services. The incoming funds can be used to support local schools, parks, and downtown revitalization.
