Throughout the year, EDCUtah brought you Utah’s top economic development highlights as they’ve happened. From energy to life sciences to aerospace, a lot of progress took place in the last 12 months. As we close out 2024, here’s our list of news worth celebrating.
In 2024, three significant announcements in the food processing industry vertical took place. In January, Mars, Inc. announced a $237 million, 190-job expansion for Nature’s Bakery in Salt Lake City.
In March, Campbell Soup Company announced plans for a $160 million, 86-job expansion of its Pepperidge Farm facility in Richmond, Utah, to meet increased consumer demand for its Goldfish crackers.
In a December interview, Ya YA Foods president Yahya Abbas indicated that the company, which is partnering with Oatley in an Odgen, Utah facility, is ahead of projections for hiring. The site could reach 400 jobs vs. the original estimate of 302, announced in November 2023.
A growing percentage of Utah’s energy comes from alternative sources, and that trend continues. In October, Fervo broke ground on power plant construction at Cape Station, an enhanced geothermal energy production project located northeast of Milford City, Utah. Cape Station is slated to produce 400 megawatts of power in the first two phases of the project, and Phase I will begin delivering around-the-clock power to the grid in 2026. Fervo anticipates that Cape Station, when complete, will employ up to 30 full-time permanent workers.
In July, Edwards Lifesciences – a global leader in medical innovations for structural heart disease and critical care monitoring – announced an expansion of its Utah operations, representing $34.8 million in investment and 560 new jobs over the next 15 years. Edwards Lifesciences has had several expansions in Utah in recent years, and is a significant employer in the Salt Lake Valley.
In February, Lehi-based e-commerce company Pattern revealed plans to bring more than 500 high-paying jobs and invest nearly $26 million in Utah over the next 10 years.
In October, data-intelligence company Strider announced plans to expand in South Jordan, Utah, and bring 152 new jobs over the next five years.
A March “Research Minute” report issued by EDCUtah’s Research Team focused on a long-running advantage for corporate expansion in Utah, namely energy costs. According to federal data, Utah has the fourth lowest electricity costs in the nation for all sectors at 9.03 cents per kilowatt hour—behind North Dakota, Wyoming, and Louisiana. In states with higher costs, residents and businesses may pay double or even triple this amount. (California is at 24.73 cents per kilowatt hour.) In 2023, Utah also ranked fourth in the nation for cheapest natural gas costs in all sectors, behind Idaho, North Dakota, and South Dakota.
Aerospace and defense technology company Northrop Grumman announced in February further plans to expand its presence near Hill Air Force Base. “Project Unity II” will bring an additional 1,206 jobs, adding onto the 3,000 jobs announced in 2020 as part of “Project Unity.”
The end of the year finished strong when, in December, sustainable aviation fuel company CleanJoule, and Hypercraft, manufacturer of electric powertrain systems, both announced expansion plans. CleanJoule will bring 100 new jobs and $150 million in investment to Salt Lake City, and Hypercraft will bring 183 new jobs and $39 million in investment to the Wasatch Front.
EDCUtah started and ended the year with more than 100 active projects, and as demonstrated by the recent ECONOMIX event held in Utah in December, our relationships in the national site selection community remain strong. We look forward to continued success in 2025, thanks to the support of our many public and private-sector investors.
“The Prosperity Post” highlights examples of the impact of your investment and EDCUtah’s work in communities across the state. Do you have a story you’d like us to share? Email connect@edcutah.org.
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