West Valley City Economic Optimization & RDA - 2023 Year-End Review: Embracing Growth and Prosperity
28 Dec 2023
West Valley City has lived up to its reputation as “The City in Motion.” For fiscal year 2023, the second-largest city in Utah brought in approximately $435.7 million in capital investment and added over 945 new employees. This increase in capital investment is nearly double the 2022 figures.
The West Valley City Economic Optimization & RDA continues to leverage the City’s extensive assets to attract investors and businesses worldwide. The city continues to thrive as a hub for commercial and industrial expansion, attracting significant capital investments totaling almost $1.66 billion since 2016. West Valley City is proud to welcome new tenants into its vibrant business community continually. Here are a few projects that helped make 2023 a successful year.
Besides the skilled local workforce, affordable utilities, and exceptional quality of life, companies are taking advantage of West Valley City’s strategic location to transport their products throughout the country. With access to I-215, State Highway 201, I-80, and I-15, these routes are accessible within five minutes and provide easy access to the airport and downtown Salt Lake City in under 10 minutes.
Businesses also benefit from a 10-minute proximity to the Salt Lake City International Airport (SLC), which handles more than 550 million pounds of air cargo annually. If your products can’t be transported by road or air, West Valley City is the first locale where the three major rail lines leaving Seattle, San Francisco, and Los Angeles interconnect to create an ideal distribution hub between the major western cities and the rest of the United States.
Raceway Commerce Center
Raceway Commerce Center garnered approximately $55 million in capital investment, reinforcing West Valley City’s status as a prime location for economic development. The fully-developed 32-acre site located off the SR-201 on-ramp/off-ramp included the development of two buildings, 211, 229 SF, and 178,909 SF, now occupied by Novo Recycling and Smalley and Company.
Hexcel Center of Excellence
West Valley City proudly welcomed the Hexcel Center of Excellence, a cutting-edge 100,000-square-foot building dedicated to research and technology. The state-of-the-art laboratory where company scientists and researchers collaborate with customers on the latest composite technology developments for aerospace, space and defense, and industrial applications. This facility represents a $35 million capital investment, highlighting the city’s commitment to fostering innovation.
201 Mountain View Park (MVP) Building
The 201 MVP Building witnessed a new influx of $4 million in capital investment, with Compax as the new tenant contributing to West Valley City’s economic landscape. Compax, utilizing 63,000 square feet, further invested $2.9 million in tenant improvements, enhancing its operational capabilities.
The industrial space features a 375,025-square-foot cross-dock warehouse with a 36-foot clear height, a set of 126,846-square-foot rear-load assets with a 32-foot clear height, and a 99,216-square-foot rear-load building with a 28-foot clear height.
The Scotland-based Weir Group demonstrated its confidence in West Valley City with a substantial $22.6 million capital investment, expected to create 133 new high-paying jobs over the next 10 years. The company is a global leader in slurry handling equipment and associated aftermarket support for abrasive, high-wear applications. Its technology is used worldwide in mining, oil and gas, and general industrial markets to improve safety, efficiency, and sustainability.
Fetzer Architectural Woodwork & Millwork Company
Fetzer’s $2 million capital investment marks a commitment to expansion. Further details on the nature and scope of this expansion will be made available as they unfold.
Mountain View Micro Flex
Mountain View Micro Flex made a noteworthy $5 million capital investment to enhance business infrastructure with a 100,800 SF building.
Ark Plaza Industrial
Ark Plaza Industrial’s $3 million capital investment signals a new development phase in West Valley City with 11 available units of various sizes that total 12,620 SF.
Next Step Microflex Park
The 3.95-acre Next Step Microflex Park, located at 3747 W Parkway Blvd., received a $7 million capital investment, positioning it as a key player in West Valley City’s economic future.
Cotopaxi, making a substantial $8 million capital investment at 6048 W Beagley Road, contributes to the city’s innovation ecosystem. The investment of this Certified B Corporation reinforces West Valley City’s appeal to all types of businesses committed to pushing the boundaries of creativity and commerce.
Soleil Technology Park
Opened in 2021, Soleil Technology Park is an innovative office campus with a golf course and walking paths. This amenity-rich environment boasts a fitness room, covered parking, bike storage, a food truck court, game space, and more. Balanced energy consumption, redundant fiber optics, peak shaving technology, Qualified Opportunity Zone investment opportunities, and cutting-edge technology characterize the campus.
With five buildings, the campus spans an impressive 525,000 square feet. One of its notable occupants is Nusano, a health-tech company that now occupies 145,000 square feet, including a linear accelerator. Nusano is dedicated to transforming the development and production of uranium-free radioisotopes for various diagnostic and therapeutic medical applications.
In a strategic move, Nusano has relocated its corporate headquarters from Valencia, California, to this dynamic campus. The company’s expansion in Utah is expected to create 92 high-paying jobs over the next 15 years. Notably, Nusano secured approval for a tax credit of up to approximately $2 million for their $46.5 million project.
The year 2023 has witnessed significant developments, and among them, two standout projects have contributed not only to the city’s economic vitality but also to the enhancement of residential and community spaces. West Valley City remains a destination for those seeking a blend of modern living, economic opportunity, and a vibrant community spirit.
Back 9 Luxury Apartments
Boasting a substantial $66.2 million capital investment, Back 9 is a testament to the city’s commitment to providing unparalleled living experiences. Back 9 comprises 262 units within a five-story, 280,000-square-foot project. This development goes beyond traditional living spaces, offering residents resort-style amenities such as a pool, fitness center, and a rooftop plaza.
Erin Hills Phase 3 and 4
The transformative Erin Hills Phase 3 and 4 project represents a $25 million capital investment. Located at 3500 S 5600 W, this development is redefining community living. The new phases bring new units, expanding the available living spaces within West Valley City. This expansion aligns with the city’s strategic plan for accommodating a growing population while maintaining the quality and diversity of housing options.
The city has witnessed a significant influx of capital investments, almost doubling from 2022, reflecting businesses’ confidence in West Valley City as a flourishing and strategic retail destination.
These retail developments reflect a year of resilience and expansion for West Valley City. The city’s retail sector continues to evolve, offering residents and visitors a diverse array of dining, shopping, and financial services. Strategic investments from well-established brands contribute to the city’s economic vibrancy and enhance its residents’ overall quality of life.
Jersey Mike’s Subs
Jersey Mike’s, the well-known sub sandwich shop, has made its mark on West Valley City with a $500,000 capital investment. The 2993 S 5600 W location brings a delightful dining experience and adds to the city’s retail diversity.
Shiny Shell Carwash
Shiny Shell Carwash has invested $2 million in a state-of-the-art facility at 3521 Caddy Hill Lane. This capital injection elevates the car care experience options for residents.
Starbucks, a global coffee giant, has chosen West Valley City as the location for a new establishment at 4065 S 5600 W. With a $2.5 million capital investment, this coffee haven has become a gathering place for residents and a symbol of West Valley City’s appeal to iconic brands.
Lo-Lo BBQ brings its distinctive Hawaiian barbecue flavors to West Valley City with a $500,000 capital investment. The 2885 S 5600 W establishment adds a unique culinary experience to the city’s diverse dining scene.
Taco Bell spices up the retail landscape with a $2 million capital investment at 1826 W 4100 S. The iconic brand enhances the city’s fast-food offerings while contributing to the local economy.
Key Bank reinforces West Valley City’s financial infrastructure with a $3 million capital investment at 2807 S 5600 W.
Notable Projects From Previous Years
ARA Industrial Park Building D
In 2022, Henkel moved in to occupy the entire 897,000 SF building. Henkel operates worldwide with leading innovations, brands, and technologies in three business areas: adhesive technologies, beauty care, and laundry and home care.
Decker Station Apartments
Decker Station Apartments at 3100 S Decker Lake Drive offers 219 Class A multifamily apartment units with incredible amenities. Prospective residents can choose from studio and one- and two-bedroom varieties.
Parks, restaurants, entertainment, and other services are within walking distance. This premier housing is across from the Maverick Center and adjacent to the Decker Lake Trax Station, offering unparalleled access to the Salt Lake Valley. Residents can easily visit Valley Fair Mall, a host of high-quality dining and entertainment options, employers, downtown Salt Lake City, and the Salt Lake International Airport.
Fairbourne Station Business Park
Fairbourne Station Business Park, located at 3550 S Market Street, is an 8.5-acre mixed-use development completed in 2022, featuring Embassy Suites, upscale residences, 200,000 square feet of office space, and retail pads.
In 2022, Metrodora, a clinic and research institute focusing on neuroimmune health and creating a new blueprint for patient care and research, leased 53,654 square feet. Metadora found access to expertise and a local community ripe with biotech innovation in West Valley City.
The Sansone Group completed West Valley Logistic Center III in 2022, a 314,175 square foot, rear-load Class A speculative industrial warehouse and distribution center on 18 acres in West Valley City. Another 328,000-square-foot Sansone industrial site at 2215 S 7200 W has recently gone vertical.
201 Mountain View Park
The region has become a premier hub for high-tech and medical device manufacturing, advanced materials and aerospace/defense manufacturing, R&D, regional distribution, and e-commerce, partly because of its proximity to an extensive labor pool.
West Valley City Economic Optimization & RDA
The centrality of West Valley City, Utah’s second-largest city, delivers exceptional convenience coupled with a desirable cost of living and the economical cost of doing business. See how we can help you expand or advance your business today! Contact us at 801-963-3345 or follow us on LinkedIn and Facebook to see our City’s recent projects.