Curtis Booker, Daily Herald

It’s no secret that Utah County is booming with growth.

Within the next decade, the county is expected to see the most population growth in the state, according to the latest projections released by the Kem C. Gardner Policy Institute. An estimated additional 164,000 people could move in by 2033, the report shows.

The report released last month also noted Utah County is poised to add nearly 87,000 more jobs in the same time frame.

With those figures among other factors in mind, Utah Valley University and the Utah Valley Chamber of Commerce hosted the fourth annual Growth and Prosperity Summit on Thursday.

The event brings together hundreds of state, business and community leaders to discuss Utah County’s future.

Courtesy YouTube

Gov. Spencer Cox, the first in a handful of keynote speakers, kicked off the daylong event by shining a light on the county’s unique combination of economic success and family-friendly environment.

“And that is the secret sauce, I think, of Utah County and of Utah. That’s who we are; that’s what defines us,” Cox said.

However, he believes some of the growth projections may not be accurate due to an overall decline in birth rates.

“We are headed, trending toward a demographic cliff,” Cox said candidly before the crowd inside UVU’s Grande Ballroom. “So this idea that Utah is going to double by 2065, I don’t believe it. … I don’t believe it at all. Now it could change, and I hope it changes.”

Previous reports suggest Utah’s population will reach nearly 6 million people in the next 35 years, with at least a million of those moving into Utah County.

Regardless, with more people come more entrepreneurs and businesses.

During her keynote presentation, Natalie Gochnour, director of the Kem C. Gardner Policy Institute, highlighted how Utah County’s economy has grown at a rate more than twice the state average, mostly owing to the technology sector and population growth.

She pointed to data released by Envision Utah, which estimate the county has around 240,000 acres of buildable land, primarily west of Utah Lake.

“I’m just someone who works in population numbers, and I might be controversial, but I see the day when there is a bridge across Utah Lake,” Gochnour said. “I see the Provo Airport getting bigger and bigger and bigger. I see a lot of response in infrastructure investment, because of the buildable land supply in an integrated economic region.”

Amidst a dozen breakout sessions during the summit, Utah real estate executive Brandon Fugal moderated a panel focused on how businesses can work to build a prosperous future.

The panel included Muriel Xochimitl, president and CEO of X-Factor Strategic Communications; Kyle Reyes, vice president of Institutional Advancement at UVU; Nicole Martin, Provo City spokesperson; and Kris Peterson, senior project manager with Horrocks Engineers.

Fugal noted how stunned business leaders and entrepreneurs from outside of the state are upon experiencing Utah County’s backdrop as a means of attracting more businesses.

“They’re like, ‘How do you even do any work here when you live in such a beautiful place?'” Fugal said.

The panel also addressed the challenges of managing growth and development in a way that balances economic opportunities, and how to expand opportunities to those residing in rural communities.

Xochimitl thinks one way of bridging the gap is through remote work opportunities and innovating transit.

“I think that if we aren’t intentional about our policy and decision making with our business decisions, that urban/rural divide will be further exacerbated,” she said during a question-and-answer portion of the panel discussion. “In a post-pandemic world that has celebrated trends like remote work options, there is so much economic opportunity (to) live in such a rural area and still, you know, work remotely.”

One student asked how new business creation is going to impact and disrupt traditional businesses and industries.

Reyes said the university is looking at ways to challenge the younger generation of students to approach entrepreneurship in a creative and innovative capacity.

Perhaps one way of doing that is with UVU’s new Master of Applied Artificial Intelligence degree that will be available to students in the fall of 2025.

UVU President Astrid S. Tuminez announced the new program during Growth & Prosperity Summit.

It aims to establish UVU as a living laboratory and model for artificial intelligence in higher education, a press release issued Thursday said.

“The institute will not only be a hub for our students, but it will be a vital community resource,” Tuminez said in the release. “Our goal is to open doors for all individuals, businesses, and organizations to work with us to understand what AI brings to the world of learning and work, how to invest our resources, and how to deploy and govern this new technology.”

Applications for the program will be available online Dec. 1.