Harley Davidson Timpanogos
September 28th, 2008
How the closing of Geneva steel-Utah's largest business for nearly 40 decades- has made so little impact on Utah county's hot economy.
Work in Progress Story--Photos and more details coming soon.
The demolition of Geneva Steel indeed represented the end of an era. Geneva was originally a US Government facility opened to provide the mass quantities of steel required to equip the United States millitary for World War Two. In 1946 Geveva was sold to US Steel and flourished for over fiftiy years in Utah County.
But as cheap asian imports reduced the cost of steel by two thirds, Geneva couldn't compete and they declaired bankrupcy in 1997. Geneva was then bought out by Chris and Joe Cannon but the restructuring of the company failed to mount a comback, and they finally closed their doors in 2001.
Ultimatly, it was the globalization of the economy, that caused Genva to fail. And of course you have folks on both sides of another big debate reagarding this topic. But Utah County has recovered extremly well since the loss of Geneva. Unlike the East, in Detriot and Bethleham Pensylvania. In which Beethleham steel closed down for good the same year as Geneva-- Utah county's economy has basically completely replaced the former economic output by Geneva Steel with high tech jobs provided from Micron, Novell, e-bay and Intel.
In fact the recent ranking of top economic areas in the United States put Provo-Orem in number one in the entire nation.
Just as a comparison when Beethlaham steel closed-- the economy was hit very hard in Beethleham Pensylvania and in 2007 they came up with a plan for replacing the economic loss they have had since. Can you guess what they did?
The are opening up a casino. Thats right leaders are betting that the former grounds where Beethleham Steel was located for over 100 years will regain jobs and tax revenue by opening a massive gaming establishement.
Yet another reason why I'm glad I live in Utah.