Utah Valley University had the honor of hosting the 3rd Annual Utah Valley Growth and Prosperity Summit. The event focused on the next steps for Utah highlighting the vision for continued economic and population growth. The event was set up by the Utah Valley Chamber of Commerce in partnership with UVU.

Other sponsors included Desert Digital Media, Governor’s Office of Economic Opportunity, KSL.com, RBM Building Services, Gary R. Herbert Institute for Public Policy, and The Clyde Companies.

Astrid Tuminez, President, UVU, welcoming the audience and sharing a message of progress and achievement for UVU

The conference featured notable speakers including the following individuals:

Speakers centered their keynotes on how the state of Utah will be moving forward. 

Governor Spencer J. Cox highlighted Utah’s economic growth prosperity, and emphasized the importance of infrastructure investment to manage growth and addressed the state’s declining birth rate, currently at 1.93 per female. In addition, he outlined plans to increase energy production, including natural gas, coal, hydrogen, and nuclear projects. Governor Cox urged against zero-sum thinking and noted the importance of community involvement and smart growth to maintain Utah’s high standard of living. 

Governor Spencer J. Cox, welcoming the audience in the morning session of the Utah Valley Growth and Prosperity Summit, held at UVU, November 8, 2024

He asserted to the attendees what they could do to help build up the community and strengthen the future of Utah. “We’ve got to stop telling our kids and grandkids to go out and change the world. We should be telling them to change their neighborhood. That is what is special about Utah, that we care about our communities, our neighborhoods, and the people around us.” 

He believes that by fostering the community, Utah will be more prepared for the unexpected in addition to the exciting events and changes that are underway including the 2034 Olympics. 

Another notable speaker in the morning session came from noted economist, Dr. Natalie Gochnour. As a former University of Utah soccer player and current director of the Kem C. Gardner Policy Institute, Dr. Gochnour discussed the economic impact of the recent national election. She explained the economic side of Utah and the changes that have been adapted over time. She highlighted Utah’s strong economic performance, noting a soft landing with inflation under control and real GDP growth at 3%. She also explained the concerns and problems Utah has and is currently facing including layoffs in the tech sector, higher interest rates, and problems in Banking. 

Dr. Natalie Gochnour, Director, Kem C. Gardner Policy Institute, University of Utah, presenting to the audience of the Utah Valley Growth and Prosperity Summit, November 8, 2024

Dr. Gochnour pointed out that construction is the fastest growing sector in Utah, despite recent high interest rates. “Our economy is building homes in big measure and employing a lot of people. But our housing prices are shockingly high."

To help members of Utah deal with an environment of growth, change and division, Dr. Gochnour suggested three points:

  1. Embrace a bright center strategy that focuses on your inner core and moves outwards: beliefs, values, etc
  2. Be rooted in hope. She shared briefly the ideas of Yuval Levin and his book, “The American Covenant,” as they relate to hope as an active virtue.
  3. Be curious and understand others, using the brightness of care to help people feel bigger, deeper, respected and live up as noted in the book, “How to Know a Person” by David Brooks. 

She finished her message by stating, “I believe it’s a very significant time in our state and in our nation’s history. We have had a pandemic, a great recession, regional wars, surges in mental health, many people doing well in the economy, and many being left behind. By mastering some of these skills, we can become better, brighter, and more hopeful. That is how we can make Utah, this valley, and our nation great.” 

The comments and ideas shared throughout the Summit were empowering to the people of Utah to look forward with confidence to the next ten years, which will include a reprise of Utah's Winter Olympics. The Summit provided economic insight into the bright future of Utah as it continues to foster growth and prosperity under wise leadership. The optimistic, future-friendly Summit provided a space and context for business, political and economic leaders to share how Utah has excelled previously and how it will continue to thrive as it prepares for the 2034 Olympics, and other major milestones in the foreseeable future.

Visit the Kem C. Gardner website to see diverse Utah economic data, including the latest dashboard, some of which was used in Dr. Gochnour's Summit presentation.

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