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Economic report: Tooele County ranks high for new business starts but faces housing, workforce and electricity challenges
Summary
Economic development staff reported strong business entry and financing metrics but warned of housing affordability (median house price about five times median income), workforce retention issues and electricity constraints that could limit local business expansion.
Ryan England (Economic Development) presented the county's annual economic snapshot, telling the commission that Tooele County ranks very highly for business entry and financing while also facing distinct challenges in workforce retention and housing affordability.
Ryan highlighted several data points drawn from federal and state sources: he said the county has averaged about 3% real GDP growth over recent years, a roughly 4.5% annual increase in establishments and new-business applications, and a near-"99th percentile" ranking for business entry compared with other U.S. counties. At the same time, Ryan said library access and local-government staffing are relatively low (roughly the 30s percentile), and that the county is "short in the 20s" age cohort, indicating outmigration of recent graduates.
Housing affordability was a prominent concern. Ryan told the council that the median house price is approximately five times median household income in Tooele County, an affordability ratio he described as edging toward "severely unaffordable." He said that electricity supply and longer commute times are additional constraints for businesses and workers, and noted that bringing well-paid jobs into the county is central to retaining young residents.
Ryan outlined ongoing initiatives and recommendations: invest in workforce development (highlighting Tooele Tech as a valuable local resource), pursue marketing (the county has about $350,000 in combined local and co-op grant funds for destination marketing this year), and participate in Project Tron, a state-led corridor study to address electrical capacity constraints. "We also need to enhance local job opportunities, address housing affordability and improve infrastructure," he said.
The presentation concluded with council questions on data sources (Census Bureau, EDA, and other national and state reports) and an observation from Councilman Hoffman that a nuclear life-cycle campus could attract high-paying jobs and address electricity needs. Ryan and staff said they will continue outreach and provide more detail to council on specific projects.
