From Salt Lake City, meet Ryan Van Wagenen who is the Global Private Equity Director. According to him, there is dynamic growth and interesting business opportunity at the “Silicon Slopes”. Actually, there have been stunning changes in the state’s economy. The state embraces all the growth as the silicon slopes come up. To celebrate the technological expansions seen in the state, a Silicon Slopes Technology meeting is held annually in the first quarter. The summit usually runs for two to three days with the agenda being keynote addresses from well-known speakers and a review of the technologies to come.
Ryan Van Wagenen said that there was a notable change in the mood over the state for the last ten years or so. He has seen several changes since 2009 when for the first time he joined the Global Private Equity. He was then promoted to the position of the Director in 2011 and put was responsible for the tech related funds in the firm. Over the years, the sector saw an incredible intensification which includes Blockchain investments. Specifically, there was involvement in digital currencies including Bitcoin which has also had an impact on cryptocurrencies.
Starting from the south of Salt Lake City towards the “point of the mountain”, we saw a clear implication of growth in business. California Bay Area in the Silicon Valley saw several startups shifting towards the East to take advantage of low cost. In addition, they also moved to take advantage of the trending hip environment at the Wasatch Mountains commonly referred to as “Silicon Slopes”.
Young professionals living in urban setting, their wishes come true when they get an opportunity to work from the slopes with the life costs only a fraction from the lifestyle at California. The area has attracted reputable big commercial organizations. They are opening and expanding their operations from outpost office spaces located in Salt Lake City and the surrounding areas. These companies include Intel, Adobe, and also Goldman Sachs.
Ryan Van has been Knowledgeable about the Benefits of “Silicon Slopes”
Ryan Van Wagenen explains that the State of Utah, the University of Utah, UVU, BYU and also Westminster offer several talented graduates every year within the 45 miles of Salt Lake. Therefore, it would be sensible if the organizations founded here would employ them. According to many people, the location is good for families and the cost of living is lower. Therefore, these organizations will have happier employees and they will also afford competitive remuneration. Further, he explains that the local companies offer a good opportunity for the area business which so far has registered increased activity.
Ryan Van Wagenen is an alumnus of the Westminster and has since the year 2009 worked in the area and so he is very well knowledgeable about the benefits brought about by the life at the Silicon Slopes. An astonishing increase in the number of technology companies continues to be seen. This has brought about an opportunity for the investors who are found in Salt Lake City. These are the businesses that are interested in the private equity and similar operations.
According to the Utah Business Journal, there has been an upward trend in the number of deals emanating from more than 25 private equity firms. These are the firms that are located in the states. Some of the typical deals are within $5 million and $20 million. However, Ryan Van Wagenen says that most of the private equity firms offer several networks and partners ready to take risks with deals that are beyond the stated amount.
The Consumer Attitude Index by Zions indicates that the sentiments shared by investors and the investor confidence in the local community have recorded an all time high levels. The increased confidence together with the national wide interest in outdoor sports led to job transfers across the State.
The outdoor activities at the mountain sport during winter has seen an 80% increase in comparison to what took place in the previous years. There has been an increase in the number of people visiting, the tourists, and new people moving to live in the city. The businesses have registered new restaurant activities as they are filled with people touring the area. The local population also enjoys the crispy air and the mountain views.
The Salt Lake City and the communities around saw increased activity around the housing sector as prices of residential and family housing markets registered increased prices. Nationally, Salt Lake City is forecasted to be among the top destinations when it comes to real estate in the year 2018. There have been fears indicating a possible bubble in pricing as real estate experts see that the entire state will catch up to years of long market trends especially in the real estate sector which previously had escaped the area.
The big firms such as Snapchat confirmed that the State is gathering the right mechanism to entice other influential tech firms to this recently crowned “Silicon slopes”. There is a bright future where we will see an increased growth and achievement to those coming to this busy state