Today The Point broke ground on the main road, Porter Rockwell Boulevard, of the 600+ acre mega-development sponsored by the state in coordination with several private partners. Governor Spencer Cox and Senato President Stuart Adams shared their thoughts on the project's significance for Utah.
At today's groundbreaking at The Point—Utah’s new innovation community—several individuals connected to the origin and development of The Point addressed an over-capacity audience crowded under a tent there to witness and celebrate the groundbreaking of Utah's biggest and most impactful real estate development.
Governor Cox articulated how important this development is for the state, “This groundbreaking marks a momentous occasion for our state, as we kickstart the development of a site which is owned by all Utahns.”
He explained how unique this site is, with both its location and purpose:
“This is something truly unique, it’s unlike anything else happening in the country. It’s at the heart of Silicon Slopes—our world-renowned tech sector—and it’s adjacent to existing transportation infrastructure, I-15 to the East, and the Front Runner to the West."
He continued, “It’s close to major universities: the University of Utah, Utah Valley University, and Brigham Young University. It’s also at the epicenter of the fastest growing part of the fastest growing state in the country.”
State backing has played a key role in the development of The Point which Governor Cox explained, “The state’s commitment to investing in this critical backbone infrastructure will truly catalyze the development so it’s done right. Once the original bill was passed I had the unique opportunity to serve as Co-Chair of this board for many years, and I’m so proud of what they’ve done.”
Cox then went into detail about his role as Co-Chair, “As Co-Chair, I advised the team that we would rather do this right than do it quickly, so we could reflect Utahns’ virtues, visions, and values. I’m so pleased to say this board and everybody involved have actually done both. They’ve gotten it right, and done it in record time.”
Governor Cox presented one of the major challenges faced when engaging in development of The Point:
“We had a prison facility sitting right here in the heart of the growth of our state and country, one which desperately needed upgrading to provide better resources for the incarcerated and their families, and help them integrate back into society. We found the proverbial win-win and were able to do both things.”
The Point is meant to provide many benefits to Utahn’s, as he explained, “The Point will create solutions to some of Utah’s most pressing challenges. It will create tens of thousands of high quality jobs, facilitate cutting edge technology, and provide thousands of new, affordable housing units to help address our housing shortage and provide affordable housing.”
Governor Cox closed his speech by stating:
“I believe that The Point represents the very best of the Utah dream, and it’ll make that dream available for the next generation. We won’t be the most selfish generation in history, we will be the generation that made life better for our kids and grandkids. The Point will provide direct, enduring benefits and will enhance the quality of life for generations of Utahns.”
Utah Senate President Stuart Adams also gave some thoughts and appreciation for the new development, “The Point is, I think, the fastest growing spot in the nation. I think the Wall Street Journal says we have the top job market, which can mostly be attributed to the tech industry.”
Adams then explained how important AI has become globally, and how he believes The Point will help the US be the dominant force in the AI sector:
“I believe we’re currently in the middle of an AI arms race. Most weapons being used in the wars in Ukraine and Israel are AI driven. But not only that, just look at video games, tools, cars, smartphones, everything is AI driven.”
He continues:
“I firmly believe that the country which controls AI will control the world. What we’re doing here will help us solve that.”
Adams then re-iterated what Governor Cox stated, this time explaining how much money was spent for this project, “The Point creates billions of dollars in safe GDP, it’ll provide more housing, and it’ll provide world class shopping. The legislature committed, I think, $165 million in infrastructure, and $250 million for the new Front Runner.”
Watch Governor Cox, Senator Adams, and other give these speeches on The Point’s YouTube channel by clicking the link here.
