By Curmudgeon
"At Your Service," the Ogden City newsletter that arrives with the city utilities bill, contains the following write-up about the Administration's economic development policies. I thought it might prove interesting to those who do not get the newsletter:
Ogden’s Economic Development Formula is Working:
Ogden is better off financially than many other Utah cities.The full newsletter can be found online here.
According to recent sales tax revenue statistics published by the State of Utah, Ogden’s sales tax revenue comparison from fiscal year 2009 to 2010 is down 11.87%.
Though this is a decline, City officials are optimistic considering that during the same period, many Utah cities saw declines in their own sales tax revenue hovering around 20% and some as high as nearly 50%.
In fact, Ogden fared better than the state’s average which shows sales tax revenue down by more than 14% throughout Utah.
This was not the case after 9-11 when Ogden’s numbers plummeted more than the state average and we were slower to recover than the rest of the state. Statistics from fiscal year 2002 shows Ogden’s sales tax
revenue down (3.5%) by more than double the state’s average (1.67%). It took until fiscal year 2005 for Ogden, at an increase of 8.14%, to climb above the state average again of a 7.57% increase.
What this means for Ogden is our formula for economic development is working. The 7,000 added jobs, the hundreds of millions of dollars in new buildings, and scores of new companies within the Junction, along 25th Street, and throughout the downtown area, are all making a difference.
Though economic fear may be present in today’s consumers throughout the state, and even across the nation, Ogden area businesses are surviving and doing better than most.
As its fiscal year 2010 begins to wrap up soon, Ogden City looks forward to further economic growth and development in the next fiscal year as a proven formula for profitable success.
Ed. Note: Differing reader opinions are eagerly invited, heheheh.
