In a recent government meeting, officials discussed various developments and projects in Orem, Utah, highlighting both completed and upcoming initiatives that aim to enhance the local economy and community offerings.

One of the most notable announcements was the opening of a Cheesecake Factory at University Place, which has been a long-awaited addition after a decade of citizen requests. This establishment is significant as it marks the last Cheesecake Factory to be built in Utah, with the company opting to limit its locations in the state. The opening is expected to drive additional business to the area, benefiting nearby restaurants such as Outback Steakhouse and Texas Roadhouse.

The meeting also covered ongoing construction projects, including the 877 North development on State Street, which will feature Dutch Farmers Coffee and Quick Crack Car Wash, although the third occupant remains unconfirmed. Additionally, American Freight is set to open next to Big Blue Swim School on Center Street.

Officials addressed the current state of the office market, noting a nationwide trend of high vacancy rates in office spaces post-pandemic. The University Place Tower, a new four-story office building, is ready for tenants but has yet to secure any leases, reflecting broader challenges in attracting businesses to office spaces.

The discussion also touched on the need for more retail space in Orem, as officials noted that retail vacancies are filling quickly, suggesting a strong demand for retail establishments. The city is looking to attract higher-end businesses, especially in light of the Cheesecake Factory's arrival, which could serve as a catalyst for other upscale retailers.

Concerns were raised about the competition from neighboring cities like Saratoga Springs and Eagle Mountain, which are drawing consumer spending away from Orem. However, Orem continues to be recognized as a top-performing city, ranking in the top five for the fourth consecutive year according to the Milken Institute.

In terms of economic development, officials emphasized the importance of attracting technology companies to the area. While Orem has a strong educational base and incubator spaces for startups, the lack of available office space along the I-15 corridor poses a challenge for attracting established tech firms.

Overall, the meeting underscored Orem's commitment to fostering a vibrant business environment while addressing the challenges posed by changing market dynamics and regional competition.