Economic report shows downtown SLC is thriving

Economic report shows downtown SLC is thriving

SALT LAKE CITY (ABC 4 News) - An annual economic report released Tuesday shows downtown Salt Lake City is thriving. “Downtown is doing fantastic, it hasn't done this well for decades,” said Jason Mathis, Downtown Alliance.
SALT LAKE CITY (ABC 4 News) - An annual economic report released Tuesday shows downtown Salt Lake City is thriving.

“Downtown is doing fantastic, it hasn't done this well for decades,” said Jason Mathis, Downtown Alliance. “We've got more people living downtown than we've had in decades, retail sales are up by 39 percent.”

A big chunk of that increase in retail sales comes from City Creek Center which analysts say has revitalized Main Street attracting even more retailers to downtown. It also set Salt Lake City apart from other downtowns during a difficult economic time.

“We had cranes moving and 1,700 construction workers employed at a time when the rest of the country was trying to figure out what's next as the recession was concerned, we were making investments,” said Mark Bouchard, CBRE.

If there is one thing downtown leaders would like to improve, it’s not wasting space that could help bolster the economy even more.

“We still have a lot of surface parking lots downtown that should be buildings and we got to figure the best way working with the city to make that happen,” said Mathis. “Probably what we'll do is build some additional garages instead of surface lots to accommodate parking.”

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