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Washington County Board of Realtors July 19, 2012

Washington County Board of Realtors July 19, 2012. Governor Herbert ’ s Four Cornerstones. “ Utah's future prosperity will be built upon four cornerstones ” - Gov. Gary Herbert Utah State of the State 2011. Governor Herbert ’ s Economic Development Plan.

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Washington County Board of Realtors July 19, 2012

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  1. Washington County Board of Realtors July 19, 2012

  2. Governor Herbert’sFour Cornerstones “Utah's future prosperity will be built upon four cornerstones” - Gov. Gary Herbert Utah State of the State 2011

  3. Governor Herbert’sEconomic Development Plan • Economic growth doesn’t just happen . . . • The Development Plan • Utah’s roadmap for success • Provides a playbook for economic development partners • Emphasizes collaboration with industry

  4. Governor LeadsEconomic Development MY VISION FOR OUR STATE: Utah will lead the nation as the best performing economy and be recognized as a premier global business destination.

  5. Utah Economic DevelopmentFour Core Objectives

  6. Utah Values • Fiscal Prudence • Limited Government • Self-Reliance • Individual Liberty and Individual Responsibility • Free Markets and Free Enterprise • Practical and Pragmatic Problem Solving • Low Taxes and Sensible Regulation • Empowering the Private Sector

  7. Our Utah Toolbox

  8. Challenge for the Council Accelerate the creation of 100,000 Jobs in 1,000 Days

  9. Accelerate 100,000 Jobs in 1,000 Days

  10. Governor’s Excellence in Education Commission GOAL: 66% of all adult Utahns will have a skilled trade certificate or college degree by 2020

  11. Governor Herbert Bloomberg TV “Capital is a coward; it only goes where it feels welcome.” - Governor Gary R. Herbert • Utah has: • Safe and stable business environment • Low tax rates • AAA bond rating • Reviewed Business Regulations • Maintains a Business Friendly Environment

  12. Utah is # 1A State of Opportunity

  13. Why Companies Move to Utah COST OF DOING BUSINESS • Top 10 in the State Business Tax Climate Index • 3rd lowest cost of doing business western US • Real estate rental below other western states WORKFORCE • #2 Fastest Growing State in the US • Residents speak over 100 languages • Competitive average wage ACCESSIBILITY • Salt Lake International Airport hosts over 700 daily flights. • St. George Municipal Airport hosts over 170 daily flights. • One-day truck from most cities in the Western US

  14. The Fiber Crossroadsof the West • Strategic location for national connectivity • Backbone to 5 major metropolitan areas • Growing concentration of high tech companies • Adobe, Oracle, IM Flash, Overstock, eBay, Fusion-io

  15. Broadband Milestones • Ranked #1 in home broadband adoption — 80% of homes subscribe to Internet • U.S. Department of Commerce • 4th fastest Internet speeds in the nation — leading all western states • Akamai Technologies Report • 99.41% of homes have basic broadband service available — 3 Mbps down/768 Kbps up • Utah Broadband Project/AGRC

  16. Recent GOED Highlights • Adobe (927 jobs) • Black Diamond Equipment (55 jobs) • ATK Aerospace Systems (802 jobs) • Litehouse (NEW, 162 rural jobs) • CSN Stores (NEW, 868 jobs) • ITT Composites (2,707 jobs) • IM Flash (200 jobs) • EMC Corporation (500 jobs) • Scheels Sports & Entertainment (450 jobs)

  17. Recent GOED Highlights • Home Depot (691 jobs) • Lifetime Products (282 jobs) • eBay campus (1,000 new jobs in addition to 1,200 existing) • NSA is the nation’s largest construction project (1,200 Utah construction workers on site) • Boeing (Participating in Dreamliner production) • Hexcel (adding new production lines and manufacturing facilities) • BYU (adding housing and instructional buildings) • New SLC airport expansion at $1.8 billion over the next 10 years

  18. Corporate Recruitment Results

  19. Why Utah? Cost & Quality of Living • Approximately 23% cheaper than Boston, MA • Approximately 38% cheaper than San Francisco, CA • Healthy, balanced living with many recreational & other activities year-round • University of Utah: 7,034 graduates/year • Brigham Young University: 8,500 graduates/year • Utah Valley University: 3,750 graduates/year • Bi-lingual population Proximity to University & Resource Availability Flight Connectivity & Other Infrastructure • Salt Lake City International Airport & Provo Municipal Airport • 40+ flights daily between Boston & Salt Lake City • UTOPIA fiber network, reliable & cost-effective power, etc. • Hardware: Sun / Oracle, HP, Intel / Micron / IM Flash, Fusion-io, Iomega • Software: HP, Symantec, Omniture / Adobe, Microsoft, Oracle, Mozy • Services: Accenture, GE, AMEX, Fidelity • Other: eBay, NSA Existing Players • State Corporate Tax: 5% • Combined (State & Federal): 38% • Tax Credit: up to 30% for up to 20 years • Enterprise Zone & Grants: Various Government Incentives Source: EMC research

  20. Litehouse Foods Litehouse Foods, Hurricane

  21. Czarnowski Display Services Czarnowski – St. George, Utah

  22. Coming Soon • 800,000 square ft. distribution facility • $90,000,000 in capital investment • 450 new jobs • New state revenue of $15,000,000 • Fast tracking the facility

  23. What Does This Mean for Washington County? • Increased wages. • Additional growth to support the new working population. • Commercial Real Estate development. • Leads to additional opportunities. Governor Herbert keynote at2012 Utah Economic Summit

  24. Tourism – Life Elevated

  25. Zion National Park

  26. How Do We Promote Tourism? • Utah Travel and Accommodations Guide. • International Travel Planners. • Familiarization Tours. • Utah Welcome Centers. • Special Tourism Projects.

  27. Montgomery Tunnel

  28. AD CAMPAIGN • Leverages our Best State for Business status. • Variations specific to certain industries and people. SIGNIFICANT MENTIONS TO SIGNIFICANT PEOPLE • Site Selector Magazine • Area Development Magazine SIGNIFICANT MENTIONS TO EVERYONE • CNBC #2 Best State for Business 2012 • Bloomberg “In The Loop”

  29. Commercial Real Estate and Construction Highlights in Utah City Creek Center

  30. Commercial Real Estate and Construction Highlights in Utah Adobe Utah Campus Construction City Creek Center

  31. Commercial Real Estate and Construction Highlights in Utah EDCUtah Newsletter – Winter 2012

  32. May 2012 Utah Residential Real Estate Statistics Data provided by Utah Association of Realtors

  33. C2 + E2 = Formula for Success Coordination and Collaboration Efficiency and Effectiveness _____________________________ Utah will Remain the Recognized Leader in Integrated Economic Development

  34. Utah #1 “Business and Careers”- Forbes

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