What Do You Know About Economic Development?
At its heart, economic development is about building healthy economies and communities in order to have a healthy and vibrant city.
These are the areas that the Sandy City Economic Development Department and the Redevelopment Agency of Sandy City focus on both now and in the future to help Sandy City stay healthy and vibrant.
• Creating a Stable and Increasing Tax Base:
The revenue, both property tax and sales tax, provided by economic development activities supports, maintains, and improves critical local infrastructure and services, such as roads, parks, storm water, water, public safety, emergency medical services, and other public services.
• Business Recruitment and Job Development:
Working with property owners, brokers, and site selectors, the Economic Development Department recruits quality companies that will provide better wages, benefits, and opportunities for advancement. This allows residents to live and work within Sandy City.
• Business Retention:
The Economic Development Department partners with local business to help them expand and grow their business, thus they are more likely to stay in the City and continue contributing to the economy.
• Economic Diversification:
A diversified economic base helps expand the local economy and reduces the City’s vulnerability to a single business sector.
A stronger economic base means public services are less dependent on intergovernmental influences and alliances, which can change with each election.
• Productive Use of Property:
Property used for its “highest and best use” maximizes the value of that property which adds to the development quality of the City and supports stable revenues for City services.
• Quality of Life:
More local city revenue, a diverse job base, quality goods and services, and entertainment and recreation opportunities raise the economic tide for the entire community, including the overall standard of living and quality of life for residents. Economic Development plays a critical role in developing the City’s identity and sense of place.