LOGAN — Cache County’s economy is slowing slightly amid challenges such as rising housing costs and changing workforce dynamics, according to officials at the Cache Economic Summit hosted by the Cache Chamber of Commerce at the Riverwoods Conference Center in Logan on Tuesday.
Michael Jeanfreau from the Utah Department of Workforce Services provided a detailed overview, noting Cache County typically weathers economic downturns well but is now facing some slowing. Two of the area’s largest employers, Utah State University and Cache County School District, continue to anchor the local economy, but losses have occurred in the trade, transportation, and utility sectors.
“Population growth is outpacing labor growth in Cache County,” Jeanfreau stated, attributing some job volatility to the high mobility of college students who often leave the area after graduation. He also highlighted a significant demographic shift, with a declining fertility rate in Utah, historically a key driver of the state’s internal economic growth.
Jeanfreau further emphasized housing affordability challenges. Cache County’s average home prices have increased quicker than state averages, with the average price around $460,000, below the state average of $530,000, but still high enough to create barriers for potential buyers. He noted the changing ratio of home affordability, previously around 3½ times yearly income, has shifted closer to 6 or 7 times annual income.
Construction of new homes is at its lowest rate since the 1950s, further complicating affordability. Jeanfreau pointed to factors such as increased construction costs, labor shortages exacerbated by recent deportations, and sustained high demand as key contributors.
Despite the slowdown, Jeanfreau identified growing sectors for future employment opportunities, including computer sciences, healthcare, and construction, underscoring the potential influence of AI and robotics.
“With AI, we are on the cusp of higher productivity,” Jeanfreau stated.
Cache County Executive David Zook presents at the Cache Economic Summit.
Cache County Executive David Zook addressed infrastructure projects aimed at supporting economic growth, including significant transportation and safety upgrades such as the South Valley East/West Connector to better connect US 89/91 to Highway 165 and enhancements in Logan Canyon. Zook also mentioned ongoing community initiatives, including senior citizen facilities, improved trail systems, and open-space expansions.
However, housing remains a critical issue, with Zook underscoring the necessity for dual-income households due to rising home prices. He urged residents to participate in discussions through the county’s dedicated housing crisis task force.
Zook further highlighted the county’s agricultural history and strengths, noting the sector contributes around $2 billion annually, providing a robust foundation despite current economic challenges. He emphasized the need to further growth in other industries to further diversify Cache Valley’s economy.
Zook also highlighted the need for the county to explore indoor recreation spaces, especially in light of Logan City ceding full access of the Logan Recreation Center to the Logan City School District.
Kori Ann Edwards from 47G
Other discussions at the summit included advanced air mobility and electrification opportunities at Logan Cache Airport, moderated by Shawn Milne from the Bear River Association of Governments. The panel featured Zook, Kori Ann Edwards from 47G and Don Linford from Aspire Center, located on Utah State University’s Innovation Campus.
The panel highlighted the exciting growth opportunities at the airport with advanced air mobility, in connection with Utah State’s robust flight training program.
Bank of Utah presents a check to English Language Center at the Cache Economic Forum.
Bank of Utah, the presenting sponsor of the economic forum, also presented the English Language Center a check for $6,250.