Logan economy highlighted as ‘bulletproof’ by CNBC

LOGAN – In a recent report on The News with Shepard Smith on cable channel CNBC, the Logan economy was featured for its low unemployment and diverse economy. The network report referred to Logan’s job market as “bulletproof.”

A screenshot of a report on CNBC highlighting Logan’s economy. The program aired on Friday, December 4, 2020.

“It looks like most small towns but the job market is practically bulletproof,” news anchor Shepard Smith exclaimed on Friday, December 4th to a national audience.

Logan’s low unemployment rate was a major focus of the program; at 2.4% it is the lowest in Utah and has been regularly one of the lowest unemployment rates in the country throughout the pandemic.

With the recently renovated Center Street in downtown Logan as her backdrop, Logan Mayor Holly Daines exclaimed, “We are so fortunate that anyone who really wants a job in this valley can get one.”

A screenshot of a report aired on CNBC about Logan’s low unemployment rate and strong job market. The program aired on Friday, Dec. 4, 2020.

Correspondent Andrea Day then focused on three of the top employers in Cache Valley: Utah State University, Gossner Foods and ICON Health and Fitness.

Utah State President Noelle Cockett said the school made a commitment to keep staff employed, and even reassigned athletic department staff in the spring based on the changing needs of the university.

We actually transferred them into areas where new jobs had been created, such as contact tracing and case containment,” Cockett said.

Gossner Foods was highlighted not only for its large work force, but also because sales of its shelf stable milk rose 10% during the pandemic and the company added staff to meet demand.

A screenshot of the interview Eric Watterson gave to CNBC about the growth ICON Health and Fitness has been experiencing during the COVID pandemic. The program aired on Friday, Dec. 4, 2020.

“Fitness as a trend was accelerating before COVID,” exclaimed ICON Health and Fitness Senior Vice President Eric Watterson. “That acceleration has only been increased with COVID.”

The CNBC program said sales of treadmills and bikes have increased over 600% over last year, and ICON Health and Fitness brands are among the most used in the world. In fact, ICON has received over $400 million in investments over the last 12 months to expand its iFit brands internationally.

Day reported that ICON’s 2020 Black Friday sales were double what they were a year ago.

Day closed her report by sharing the story of the Cache Valley Restaurant Cooperative, a group of local restaurants who teamed up to offer and promote free delivery.

To see the full report as it aired on CNBC, click here: https://www.cnbc.com/video/2020/12/04/the-job-market-in-utah-logan-is-bulletproof-with-low-unemployment-rate-of2-point-8-percent.html

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