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Economy of Salt Lake City


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d many hotels and restaurants were built for the events. The convention industry has expanded since the construction of the Salt Palace convention center in the late 1990s, which hosts trade shows and conventions, including the annual Outdoor Retailers meeting and Novell's annual Brain Share convention.

In 2006, the largest potato producer in Idaho, the United Potato Growers of America, announced that it would relocate its headquarters to Salt Lake City, citing its need for a large international airport, being that Salt Lake City International is the 22nd busiest in the world in combined freight and passengers. The announcement led some members of the Idaho legislature to propose legislation changing the state license plate, which currently reads "Famous Potatoes".

In 2005, it was found that the downtown area was experiencing rapid population growth. The number of residential units in the central business district has increased by 80% since 1995, and is forecast to nearly double in the next decade. The City Creek development of the LDS Church added 300 units in its first phase including the 415 ft (126 m) tall City Creek condominium tower. Allen Millo Associates currently has two projects under construction and two more planned. A residential tower is planned for Trolley Square, and this follows the recent completion of the North gate Apartments and 12-story condominiums at Gateway with two more buildings finished nearby and the Liberty Metro apartments near Library Square.

Office vacancy rates are low in the downtown region. In response, two new large buildings are being constructed. The first is eight stories and located in the Gateway District, while the second will be 22 stories high and is currently under construction on Main Street. In addition, the historic Walker Bank Building is currently undergoing

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