BYU Provides Provo with Business Leaders
Provo, Utah, is a university town that often takes the nation to school on shaping business leaders.
Brigham Young University frequently is lauded by the media and business world for its strong business programs, including the accounting program and the master’s of business administration school.
As the home of a large, private university, Provo enjoys a highly-educated workforce, with more than 35 percent of the population having at least a bachelor’s degree. The college town also has a young workforce; more than 45 percent of the residents are between 20 and 34 years old.
BYU graduates are poised to help Provo and other areas succeed in international business. More than 60 languages are taught at the university, and 75 percent of the students speak a second language.
Beyond the classroom
The city also takes pride in its flourishing high-tech sector. City officials report the area between Salt Lake City and Provo has been described in The Economist as “the world's second-biggest swathe of software and computer-engineering firms after California's Silicon Valley.”
According to the city’s office for economic development, Provo businesses appreciate the affordability of Provo City Power, the largest municipally-owned electric system in the state.
The department also touts the area’s small-town feel yet uptown perks of multi-use business and industrial parks, a convenient airport for chartered flights and a historic downtown business area.
In November 2007, city officials announced plans for Southgate Center, a new commercial and retail center in south Provo. The project is slated to include 459,000 square feet of national retail space, featuring stores such as Target and PetSmart. Additionally, the center will have 225,000 square feet of office space. The center, scheduled to open in fall 2009, is expected to bring $125 million annually in new retail sales as well as substantial property tax dollars that will benefit the local school district.