SPANISH FORK, Utah – Two years after its official adoption, the Verk Industrial Park project is now advancing from planning to the physical build-out of its essential infrastructure, backed by a new $66.8 million bond issuance aimed at building the infrastructure needed to attract high-wage jobs to southern Utah County.
The Utah Inland Port Authority (UIPA) board formally approved the project on July 17, 2023, creating Utah’s third inland port project area in response to a resolution from Spanish Fork City. In the two years since, the project has expanded its footprint, secured its first major recruitment, and established a financial framework to turn its vast acreage into a modern economic hub.
“This anniversary marks a pivotal moment,” said Jenna Draper, Associate Vice President Of Regional Project Area Development. “What began as a local vision for economic stability is now becoming a reality, with the foundational pieces in place to support long-term investment and opportunity.”
Progress has been efficient and strategic. In January 2024, the UIPA board approved a 418-acre expansion, bringing the park’s total size to 2,681.6 acres. Following community input about the new boundaries’ proximity to Utah Lake wetlands, the Board committed 1% of future tax differential revenue from the project to environmental mitigation efforts.
A key step came in August 2024 with the creation of the Verk Industrial Regional Public Infrastructure District (PID). The independent entity was established to finance and oversee the construction of public infrastructure, using future tax revenues generated by the development itself rather than placing the burden on current taxpayers.
The PID made its most significant move earlier this month, announcing plans to sell $66.8 million in bonds. The funds are designated for critical groundwork, including roads, a new electrical substation, a regional wastewater lift station, and new rail spurs to connect with existing freight lines. The funding will also support the new 2700 North freeway interchange, which is currently under construction.
With funding now secured, the next phase involves mass grading and the installation of the core utility and transportation networks. Officials are actively recruiting businesses in target sectors, including advanced manufacturing, logistics, distribution, and data centers.
As it enters its third year, the Verk Industrial Park stands as a key component of Utah’s statewide economic strategy, poised to transform the landscape of Spanish Fork and serve as a critical node in the region’s supply chain for generations to come.
Author: Nick Archambault
Published: 07/22/25