SWOT

Regional Strengths, Weaknesses, Opportunities and Threats

Strengths Weaknesses Opportunities Challenges
Entrepreneurship
Strong culture of entrepreneurism Shortage of capital Growing entrepreneurial ecosystem Lack of investor confidence
Business Resource Centers, SCORE, SBDC Limited resources for assistance Cultivate new partnerships Disconnect between local efforts and State support
Affordable commercial/manufacturing spaces Shortage of Class A office space Maker Space for prototype production Disconnect between businesses and community leadership
Infrastructure available to support telecommuting Lack of access to peers, supporting services;

 

Enhance local industry support groups

Develop local finance and investment networks

Losing skilled workers to urban areas for higher wages
Tourism
High seasonal visitorship Rich County lacks infrastructure to support visitors Infrastructure investments will encourage visitors, provide services to full-time residents Infrastructure is costly to maintain in rural areas
Rich cultural, historical resources Awareness of local sites, activities, artisans is low BRHA can increase awareness of sites and activities Local awareness of BRHA is still low
Opera, theater with national reputation Additional arts facilities needed Investment opportunities for extended season and attractions
Three State Parks with high visitorship and profitability Limited season for services State budgeting limits personnel and activities at parks
World Class Migratory Bird Refuge Resource and habitat management;

Drought

Shooting Sports
Regional connection between national parks Difficult to convince tour groups to stop between major sites Increase awareness of attractions to tour companies Competition with other regional markets
Infrastructure
Interstate Highway access to West Coast and Mid-West Interstate does not serve all counties Lateral connections to Interstate have development potential Environmental concerns connecting region with high-capacity roadways;

Air quality regulation changes

Broadband Internet access per capita is high Highest speeds of Internet (fiber optics, 1GB) not always available Develop tech businesses along broadband access corridors Consumers not always aware of of best ways to access Internet services
Two large public, one private regional airport Proximity to SLC limits air service options Open airports for smaller traffic and activities such as UAV, experimental testing Competition for activities with other regions and states
Water in arid regions still available Infrastructure to detain and distribute water not adequate Residential and industrial water use still very easy to accommodate Local political will to invest public funds in large development projects is low;

Fractured water management limits ability to grow systematically

Solar and wind energy development potential Lack of utility infrastructure Residential rooftop and collective solar energy potential high Alt energy highly dependent on cost of technology and market rates
Fare-free transit system (CVTD) Limited transit service in Box Elder & Rich Counties
Funding source for transit corridor preservation and development
Local, State, and Federal investment incentives and zones Limited knowledge on how to invest in Enterprise and Opportunity Zones Opportunity Zone designations
Available land for workforce housing High demand for housing affordable to mid-income households State and local incentives available to encourage housing development Housing prices are steadily growing without comparative wage growth
Local development attitudes do not support density and other affordability remedies Resort development could include workforce housing Resort development artificially inflates housing costs for support workforce
Agriculture
Cluster of Ag manufacturing/processing Seasonal limitations restrict product diversity Specialize in value-added production Global commodity markets and fuel prices have significant impact on local market
Organic grain milling Infrastructure highly invested in specific commodities Develop and grow local and regional markets including farmers markets Urban growth encroaching on productive lands
Regionally significant beef growing and processing Processing options and markets limited for small producers Increase exports and provide stable market for local producers Weather and commodities markets affect organic farming standards and profitability
Water for irrigation Growers rely heavily on public lands access for grazing Mobile processing market niche can develop USDA regulations limit meat processing options
Endangered Species and other federal land management regulations affect access to public grazing lands
Manufacturing
World class Nucor steel mill Single source for steel in region Nucor mill has excess capacity Nucor closure would require all steel materials to be imported
Existing jobs in steel and composites Jobs concentrated in handful of  companies Recruit more firms/jobs to expand base Regression in single company/industry has big impact locally
Productive, trained workforce Shortages in key positions, such as certified welder, machinist Leverage local training resources to fill gaps Once trained, workers may leave for higher pay
Growing composites industry Five other Utah counties with more composites companies Grow jobs through recruiting and infrastructure expansion Other counties may become more competitive
World class composites manufacturing R&D at Northrup Grumman R&D lab capabilities are underutilized Marketing to help build R&D notoriety Commodity process, tarrifs undermine industry security
Education
Utah State University Entry-level jobs not always available for many degrees, focuses Custom Fit training for specific employers/positions available
Bridgerland Technical College Training does not always match industry needs Grow and recruit new businesses to employ new graduates Low wages lead educated workers to relocate out of region
Highly-ranked local public schools State education funding lags behind national averages Enhance outreach to learn business workforce needs High reliance for education funding dependent on State legislature/political priorities
ACT workforce-ready certification program Workforce certification program
High percentage of local population with post-secondary education High demand for technical and trade services