How We Support Magna Businesses
Magna, a vibrant community in Salt Lake County, is known for its rich industrial heritage and growing economic opportunities, with a population of approximately 27,000. Home to a mix of small businesses, retail, and industrial enterprises, Magna benefits from its proximity to Salt Lake City and a strong local workforce.
ChamberWest is committed to supporting Magna businesses through networking events, advocacy, and tailored resources. Our programs foster collaboration, provide business development tools, and create partnerships to help Magna’s businesses succeed in a competitive market.Â
ChamberWest Member Map
Our Member Map showcases the vibrant network of ChamberWest members thriving in your community. From local retailers to service providers, our diverse members across various industries collaborate to share ideas and foster growth. This interactive tool helps you connect with nearby businesses, explore enhanced members, and discover networking opportunities tailored to your needs.Â
Explore our member map to find businesses like yours driving success in Kearns and beyond.Â
Why Choose Magna for Your Business?
Undeveloped Land
Magna offers significant opportunities for business expansion with undeveloped land available for commercial and industrial development. Its strategic location in Salt Lake County makes it an ideal spot for businesses looking to establish or grow their operations in a community poised for economic development.
Population
With a population of approximately 27,000, Magna is a close-knit yet growing community. Its diverse residents provide a solid customer base for local businesses, while its proximity to Salt Lake City expands market reach for entrepreneurs.
Labor Force
Magna benefits from access to a robust labor force, with nearly 700,000 eligible employees within a 40-mile radius in the Salt Lake County region. This diverse and skilled workforce supports businesses across industries, from manufacturing to retail and technology.
Universities
Within a 40-mile radius, Magna businesses have access to talent from 40 universities, including institutions like the University of Utah and Salt Lake Community College. These schools produce graduates in fields such as business, engineering, and technology, ensuring a steady supply of skilled workers.
Transportation
Magna’s prime location offers easy access to major highways like I-80 and I-15, connecting businesses to regional and national markets. The community is just 20 minutes from Salt Lake International Airport, facilitating convenient travel and logistics for businesses of all sizes.
Regional Airport
Magna is near the South Valley Regional Airport, providing businesses with convenient access to air travel and logistics. This regional airport supports corporate travel, small-scale shipping, and connectivity, enhancing Magna’s appeal for businesses with regional ambitions.
*Statistics are sourced from https://www.slco.org/economic-development/
ChamberWest Events for Magna Businesses
ChamberWest hosts a variety of events to bring Magna’s business community together. From networking mixers and workshops to community engagement initiatives, our events are designed to help professionals connect, learn, and grow. Whether you’re a small business owner or a corporate leader, our events offer opportunities to build relationships and stay informed about Magna’s business landscape.
Steps to Start a Business in Magna
Starting a business in Magna is a rewarding opportunity, supported by a strong community and accessible resources. Follow these steps to launch your business with confidence.Â
Research and Plan Your Business
Begin with a clear business concept and conduct thorough market research. Utilize resources like the Utah Small Business Development Center (SBDC) to create a solid business plan, understand your target market, and evaluate competitors.Â
Choose a Business Structure
Select a legal structure for your business, such as a sole proprietorship, LLC, or corporation. Each option impacts taxes, liability, and compliance, so consider consulting a legal or financial expert for guidance.
Register Your Business
Register your business name with the Utah Division of Corporations and Commercial Code. Ensure the name is unique and meets state requirements to establish your brand in Magna.
Obtain Required Licenses and Permits
Depending on your business type, Magna and Salt Lake County may require specific licenses or permits. Visit the Salt Lake County website or contact ChamberWest to ensure compliance with local and state regulations.
Secure Funding
Explore financing options like the B:Side Fund or other local programs offering loans, grants, or mentorship. These resources support Magna entrepreneurs in launching and scaling their businesses.Â
Set Up Taxes and Insurance
Obtain an Employer Identification Number (EIN) from the IRS for tax purposes. Register with the Utah State Tax Commission if you need to collect sales tax, and secure business insurance to protect your operations.
Find the Right Location
Magna offers commercial spaces and undeveloped land for businesses looking to establish a presence. Work with Salt Lake County’s Economic Development team to find a location that fits your business needs.
Connect with Local Resources
Join ChamberWest to tap into a network of Magna businesses and gain access to resources, events, and mentorship. Organizations like the Better Business Bureau and Local First Utah can further support your business’s growth and reputation.
Business Resources in Magna
Salt Lake County Economic Development
The Salt Lake County Economic Development team supports Magna businesses with site selection, market insights, and connections to local resources, fostering a thriving business environment.
Utah Small Business Development Center (SBDC) – Magna Support
The Utah SBDC provides free consulting and training for Magna entrepreneurs. From business planning to marketing strategies, their services help startups and small businesses succeed.
B:Side Fund for Magna Entrepreneurs
The B:Side Fund offers flexible financing and mentorship for Magna’s small businesses, with a focus on supporting underserved entrepreneurs to drive growth and innovation.Â
Better Business Bureau (BBB) Serving Northern Nevada and Utah
The BBB helps Magna businesses build trust and credibility through accreditation, dispute resolution, and consumer-focused tools, strengthening their presence in the local market.
Economic Development Corporation of Utah (EDCUtah)
EDCUtah partners with Magna’s economic development efforts, providing market research, site selection support, and connections to help businesses grow or relocate to the area.
Local First Utah
Local First Utah promotes Magna’s independent businesses through advocacy, marketing support, and community initiatives, helping entrepreneurs build strong local connections.
ChamberWest Members – Leveraging Local Expertise
ChamberWest connects Magna businesses with a network of experienced ChamberWest members, offering collaboration opportunities, industry insights, and referrals to support sustainable growth.Â
Join Our Chamber of Commerce
Joining ChamberWest means becoming part of a vibrant network of Magna businesses and professionals dedicated to community success. As a member, you’ll access exclusive resources, networking events, and opportunities to grow your business. Whether you’re a startup or an established company, ChamberWest provides the tools and connections to help you thrive in Magna’s dynamic market. Together, we can build a stronger, more connected business community.