Friday, February 22, 2008

Economic News That's Truly Sweet

Economics lessons to be learned by hangin' out with grownups

Great economic news for Emerald City in this morning's Standard-Examiner, with this morning's announcement of a new addition the our city's business community. And no, it's not another ski company, with a skeleton crew of ski apparel salesmen operating from the attic of Bernard Allen's law office, or a fly-by-night airplane maker, doomed to liquidation in U.S. Bankruptcy Court. This company is solid, with 104 years' international business experience. It's even publicly traded on the New York Stock Exchange. We'll let the Std-Ex's Marshall Thompson give you the gist of it, with a few of today's key paragraphs:
OGDEN — The Hershey Company, which manufactures some of America’s favorite chocolate treats, accepted Utah’s economic incentive Thursday to set up a distribution center at the Business Depot Ogden.

The incentive plan, which the Governor’s Office of Economic Development approved in October, gives Hershey $2.6 million over 10 years to operate a $38 million distribution hub out of Ogden. The GOED expects the center to employ 123 workers and generate $13 million in new revenue for the state in the next 10 years.

“Our productive work force, superior location and transportation infrastructure, along with an unparalleled quality of life, will continue to keep Utah in the forefront as one of America’s best states for business,” Gov. Jon Huntsman said in a news release. “Hershey will be a great addition to the growing and vibrant Ogden community.” [...]

“They plan to break ground in early March,” said Dave Harmer, Ogden’s community and economic development director. “Their target completion date is in October or sometime in the fall.”

Harmer added that many businesses are attracted to BDO because of its easy access to an interstate highway and rail service.
Strangely... nary a word about gondolas -- oh my!

We'd like to heartily congratulate Governor Huntsman and Boss Godfrey for landing this trophy economic fish. We've looked at the charts, and won't expect to see Hershey locking out its employees and customers late some snowy Sunday night, and popping up in Bankruptcy Court on Monday morning.

We believe that it's sound companies like Hershey that we need to attract, if we seek Emerald City's true economic revival. Perhaps Boss Godfrey should think about devoting more time to doing his recruiting at big-league trade conventions, and forget the Vegas ski trade show altogether. Lord Godfrey would probably amaze himself at what he could accomplish, if he were inclined to associate with grownups.

And for those who are scratching their heads wondering how Hershey fits into Boss Godfrey's "High Adventure Recreation" theme, we'll remind you that chocolate is a product made from a vegetable, and is thus a health food product. As a matter of fact, one of Hershey's early advertising slogans capitalized on this aspect with the catchy phrase: "a palatable confection and a most nourishing food.” And no, we are not making this up.

Who knows? If Godfrey keeps this up, we may form a Boss Godfrey Fan Club. Stranger things have been known to happen.

And what say our readers about all this?

10 comments:

Tec Jonson said...

Will I-15 now somehow be a "Hershey Highway"

Curmudgeon said...

Rudi:

You wrote: Strangely... nary a word about gondolas -- oh my!

Rudi, Rudi, Rudi.... you have to learn to think outside the box, compadre. Why I'll bet that just as soon as Mr. Harmer finds the 275 gondola parking spaces he seems to have misplaced, he'll be catching the first flight to Hershey, PA carrying Hizzonah's offer to shape Ogden's gondola cars like little Hershey Kisses in return for ten or twenty million up front to help pay the construction bills.

Zed said...

You missed the chance for the perfect headline, Rudy my man: "Godfrey Hooks Up With Famous Fudge Packer." Perfect headline, perfect theme.

give me a kiss said...

That is great news, the revenue generated by Hershey at BDO will give Godfrey more opportunities piss away the money on senseless loan guarantees and worthless city operated ventures. We might even find a place for the second Ice tower for the City to loose money on.

sullen said...

Tec-
No, that'll be the name of the new expressway that was once known as 12th Street (see east-west transportation article in today's Standard).

Lionel said...

Tec

"Hershey Highway" already has its own meaning in Matt and Stu's world.

And "Give me a Kiss", You are right on that one, except it is already a done deal as all the proceeds of BDO have been at least triple pledged to already existing Godfrey projects. If even one card in Godfrey's house of cards crumbles, the whole thing will collapse and all the revenue from BDO will be gone far into the future.

ozboy said...

Other big biz news today about the worlds biggest bullet maker moving their world headquarters to Clearfield.

Clearfield! Now why would they do that when every one knows that Clearfield is never gonna have a gondola. How can you have a bullet factory without a gondola? Are these bullet barons completely nuts?

frank said...

Bullets and Candy Kisses!
Both agents of death right here in Zion. One will kill you quickly, the other takes a little longer.

Bill C. said...

Since gondolas have surfaced once again, I hope that all you civic minded sorts that attended the transportation open house at the Union Station last night were as emphatic as I was in letting all three host groups know what you think about an URBAN GONDOLA disquised as a mass transit option.
Though it wasn't on their maps and listed in their material, they still need to hear it.

danny said...

One concern I have about the distribution center is this: Are these going to be good paying jobs, or just another source of diesels to bust up our highways and stink up our air?

Rudi is right. Hershey seems a solid community player as opposed to some of these ski companies - also welcome however. But it may be just a swarm of diesels, in reality.

But we need to ask whether the people will be additive, neutral, or subtractive. LA has lots of people, but who wants to live there?

We need more people like Dan S. and Monotreme - highly paid and highly educated. People who think and get involved, not just raise their hands in approval for whatever the "leaders" want to do.

Oz mentions another interesting move:
ATK's Ammunition Division will move its executive offices to Utah.

But my real reason for posting is this: Wholesale gasoline with taxes is now $3.10 per gallon as of two days ago. Add a 5% markup and that's $3.26 a gallon. 10% markup is $3.41. I don't know why they haven't changed the signs yet.

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