Bids for UDOT projects coming in lower than expected
April 1st, 2009 @ 9:09am
By Marc Giauque
SALT LAKE CITY — The Utah Department of Transportation is hoping to stretch some of the stimulus money it’s getting from the federal government. So far, contractors and a very competitive bidding environment are helping that effort.
UDOT Deputy Director Carlos Braceras says many of the bids for recent projects have come in around 15 percent lower than UDOT engineers had estimated.
“You start doing that for 57, 70, 100 projects and you start to accumulate a significant amount of revenue that can be re-prioritized by the Transportation Commission,” he said.
Braceras says if the trend continues, they may be able to approach the commission in April with between $10 million and $20 million in projects that can be reprogrammed.
It’s a far cry from the last three years, during which Braceras says UDOT had to deal with annual cost increases around 20 percent.
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The New Stimulus COBRA Changes
How Stimulating Are They?
Presenters: AJ Bentley, Ben-X
Ken Trowbridge, WanSutter
Tim Blair, WanSutter
This seminar will discuss:
• What employers need to know
• Next steps for compliance
• How much will these changes cost?
• What is the impact on employers and ex-employees?
Wednesday April 8, 2009
8:00 AM to 9:30 PM
6360 South 3000 East Suite 205 Salt Lake City, UT 84121
Phone (801) 943-8844 Fax (801) 937-8990
Email: rsvp@ubinsurance.com
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Here is some optimism in the local economic outlook.If you are aware of more please send us a link so we cna share it with other readers.
Some companies still growing in Utah
February 25th, 2009 @ 6:21am
By Paul Nelson, KSL
While some companies are struggling, others say they’ve diversified enough to see significant growth. But for people who are looking for jobs, is there any good news on the horizon?
The $787 billion stimulus is expected to bring construction jobs to Utah. While we wait for the money to get here, the construction and manufacturing industries have stalled in the state. Analysts say we’ve lost roughly 13,000 jobs in housing construction, and we could lose even more. So, how is it that a company related to the construction industry could be doing better than last year?
Professional Service Industries Vice President Chris Garris said, “We’ve been growing. If you look at all of our service lines, as you pile all of those together, we’re doing well as we’ve continued to diversify.”
Garris admits some of the company’s services are seeing a loss. For instance, their pre-construction services, like soil testing, are down. But their inspection services during construction are increasing. The company isn’t noticing this same kind of success outside of Utah.
“PSI in many other areas of the country, just like the other competitors, are experiencing the type of downturn in their individual markets,” he said.
People who help businesses move into Utah say interest in the state is just as high as ever.
Economic Development Corporation of Utah CEO Jeff Edwards said, “We’ve been very pleased to see that the level of inquiry in our office has been almost as high as it was last year. In fact, in some cases, it’s higher.”
Edwards says population growth and tax credits are attracting companies looking to expand.
“The kinds of companies that we’ve seen looking here are primarily and distribution type companies. Most of them are well established,” he explained.
Edwards says their company has helped bring in or retain 4,000 jobs in Utah since last July.
“That’s a real shock to most people. Most people think the economy has gone over the edge and that we should all go run and hide, and it is not happening that way. We’ve got growth happening here,” he said.
He does admit, though, there is definitely a downturn in jobs here, and a damaging lack of confidence in the economy. But he says Utah has an economy that’s much sounder than other states.
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February 12th, 2009 @ 5:00pm
By Keith McCord
How’s this for a bold and optimistic prediction: Utah’s struggling economy can be turned around by the end of this year. That message was delivered on Utah’s Capitol Hill this morning by a group of business leaders, local government, educational and non-profit leaders organized by the Salt Lake Chamber.
They have specific ideas on how to do that, and they have the qualifications to back those ideas up. Their backgrounds are in banking, construction, home building, transportation, and tourism. They have a lot of ideas on how to jump-start Utah’s economy.
Lane Beattie, president and CEO of the Salt Lake Chamber said, “As business leaders, we know that there are many things that are right in Utah.”
The group has formed the Utah Economy Can-Do Coalition. It believes that if the anticipated $1.4-billion in federal stimulus money, plus $1 billion in state funds is spent in the right areas, the economic turnaround will be quick.
“It’s all about receiving the fastest and highest return on our investment,” Beattie said.
David Golden, executive vice president of Wells Fargo Bank said, “The coalition recommends state investment in roads, state buildings and housing that will infuse billions of dollars into the state economy.”
That, in turn, could create an impressive number of jobs. “We estimate that approximately 60,000 jobs will be restored or created in the state economy,” Golden said.
Two weeks ago, members of this group met with the House speaker and Senate president, who asked for specifics. The lawmakers, not wanting to just spend haphazardly, sought guidance to get more “bang for the buck.”
Scott Beck, president of the Salt Lake Convention and Visitors Bureau, said, “We’ve been able to give those real specific answers as to the validity of the projects, the cuts, and the realities of where things are working and where things aren’t working.”
The “Can-Do” moniker for the group is optimistic in tone for sure, but members say sitting back and doing nothing is not an option.
Chris Redgrave, vice president and general manager of Bonneville Radio Group said, “So with the business community working with elected officials, Utah will be the first to emerge from this time of economic challenge.”
The coalition is also urging the state to create investments that can be multiplied by private and federal matching funds. The group says some fees and taxes may have to go up to produce more state income.
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