Logan economy on the upswing
Cache Valley’s economy is expected to flourish within the next five years, said Economic Development Director Nevin Limburg.
“The mayor projects that the tax revenue of Lowe’s and Home Depot alone will be attributable to the general fund of the city of Logan,” Limburg said. “We expect the sales tax [of Lowe’s and Home Depot] to be in the neighborhood of between five and six hundred thousand dollars per year,” he said.
Lowe’s and Home Depot are not the only larger stores coming to Cache Valley, said Diana Hurlbert, assistant economic development director. Other large stores which will be coming into the valley include West States Theater, Burger King, and Sam’s Club. The valley is also looking into bringing more major chain family style restaurants as well.
“There are a number of focuses which will be good for our local economy,” Hurlbert said. “It will provide a well of jobs for college students and residents of the valley, higher wages, and convenience. It will also bring greater sales tax revenues which will help our infrastructure, maintain roads, revamp our parking structure, and will allow us to invest in and revitalize downtown [Logan]. Downtown is very important to the quality of life of the citizens in Logan. It’s a historical and cultural district that we need to preserve as a part of our community, a part of our heritage. The tax revenues will allow us to do this.”
Limburg said it will also help keep the local population’s money from leaving the valley. “We’re making the valley more aesthetically pleasing and convenient,” he said. “One thing I’m proud of in Logan is we are requiring a higher quality of development [of those businesses coming in]. We asked Lowe’s and Sam’s Club to step up a couple of notches from their regular [construction].”
“As long as we can demand high quality projects, we think we can satisfy our populous here. If [the valley] is not aesthetically pleasing, people get really irate,” he said.
Cache Valley is quickly becoming a “more livable community,” Limburg said.
Front end assistant manager Becky Rose said Lowe’s is excited “to see what type of economy Logan has to offer. A good part of our employees are students.”
Lowe’s intends to have a board cutting ceremony Wednesday, Sept. 26 at 5:00 p.m. The general public is more than welcome to attend, Rose said. The grand opening will be Saturday Sept. 29.
Steve Hartman, director of merchandising and marketing in Anderson Lumber’s home office, said Anderson’s is not too concerned about the competition Lowe’s and Depot will bring.
“We always lose some business when [the big businesses] come to town. It primarily effects our cash sales. But we’ve been through this many times in other locations and we do [just fine]. One of our competitive advantages is our lumber express yard.”
Hartman said a large part of Anderson’s focus has and always will be the contractors.
“Contractors are 80 percent of our business. We’re really not effected in the contractor side of our business” when the bigger stores come to town,” he said.