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Welcome To Utah March 18, 2010

Welcome To Utah March 18, 2010. Economic Development Corporation of Utah. edcUTAH Creating jobs and capital investment in Utah Public, private nonprofit partnership Chartered in 1987 Statewide representation Partnered with State of Utah in January 2005 230+ members 18 full-time staff.

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Welcome To Utah March 18, 2010

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  1. Welcome To Utah March 18, 2010

  2. Economic Development Corporation of Utah • edcUTAH • Creating jobs and capital investment in Utah • Public, private nonprofit partnership • Chartered in 1987 • Statewide representation • Partnered with State of Utah in January 2005 • 230+ members • 18 full-time staff

  3. Governors Office of Economic Development • GOED • Business creation, growth and recruitment • Governor re-organized Economic Development Office • Clusters formed • GOED contracted with edcUTAH in 2005 • Solid partnership developed

  4. Why Utah?

  5. Why is Utah Hot? 1# Best Managed State Government – Pew Charitable Trust, 2008 Grading the States Utah #2 Best Business State –Pollina Corporate, 2009 “Rebuilding American’s Economic Power” Utah Ranked 3rd Best State for Business – Forbes.com, 2009 Best States for Business Salt Lake City 3rd Best Performing City in America – Milken Institute, 2009 Best Performing Cities Index Utah Ranked 5th for America’s Top Business States – CNBC, 2009 America’s Top States for Business Salt Lake City 7th Best City for Jobs – Forbes.com, Best Cities for Jobs in 2009

  6. Why Utah? • Workforce • Young • Highly educated • Location • Crossroads of the West • Expertise in key Industries • Low Business costs and Business Friendly • Utilities and Taxes • Quality of Life

  7. Demographics

  8. Geography Overview Wasatch Front = 100 mile corridor • Weber, Davis, Salt Lake & Utah Population = 2.8 million Utahns • Salt Lake MSA – 1,099,459 • Ogden/Clearfield MSA – 515,355 • Provo/Orem MSA – 506,413 • St. George MSA – 138,428 • Logan MSA – 114,488 • Rural Utah – 271,320

  9. Public Transit 3 Million+ Monthly Ridership TRAX Light Rail expansion East-West lines Downtown to SLC Airport Connecting cities in SLCounty FrontRunner expansion Salt Lake – Weber County Salt Lake – Utah County Source: UTA (Sep. 2009)

  10. Key Demographics Youngest state in the nation 20% of Utah’s population is enrolled in grades K-12! Median age – 29 Highly educated 27% with college degree 91% with high school diploma Strong work ethic Average turnover rate – 11.2% Fewer sick days – 6th healthiest state Fewer work breaks – lowest percentage of smokers in the U.S. The Gateway Sources: Decision Data Resources, The Employers Council, United Health Foundation

  11. Ready & Stable Workforce • 71% of in-state • Utah graduates stay in state • – Utah Foundation • 43% of out-of-state • Utah graduates stay in state • – Utah Foundation

  12. High World Language Skill Set Facts: Residents speak 90% of the world’s written languages 60% of public school students study a world language 180 languages are spoken by U of U students 80+ language courses are offered at BYU 77% of BYU students speak a second language 47% of BYU students have lived outside the U.S. for 1+ years “Per capita, Utah is the most linguistically diverse region of the U.S.” -Time Magazine Sources: Utah State Office of Education, University of Utah, Brigham Young University

  13. Competitive Forces

  14. Business Focused Government • State Priorities: • Energy • Education • Economic Development

  15. Business Focused Government Life Sciences Myriad Genetics ARUP Laboratories Nelson Labs Merit Medical Software & IT Omniture/Adobe EBay Disney Interactive Aerospace & Aviation Hill Air Force Base ATK Hexcel Corporation Outdoor Products & Recreation Salomon Rossignol Black Diamond • Defense & Homeland Security • Hill Air Force Base • ATK • Northrop Grumman • Financial Services • Zions Bank • Wells Fargo • Key Bank • Goldman Sachs • Energy & Natural Resources • Rocky Mountain Power • Questar Gas Corporation • Firstwind • Raser Technologies

  16. Job Growth - Recovery “Utah projected as one of three states to have full recovery by 2011” -IHS Global Insight, June 2009 Source: Governor’s Office of Planning & Budget

  17. Crossroads of the West • 3 major interstates • 1-day to 2-day delivery to western U.S. • Full-service customs port of entry • 2 major rail lines Source: 2003 Rand McNally Atlas

  18. Convenient Airport Access & Travel Salt Lake City International Airport • 700+ daily flights • Direct to Tokyo & Paris • Delta’s 2nd largest hub • 10 min. from downtown Source: Salt Lake Airport Authority

  19. Low Cost of Doing Business Source: Milken Institute (July 2007)

  20. Low Cost of Doing Business Key Top 10 States Bottom 10 States

  21. Greatest Snow on Earth Source: Ski Utah

  22. Outdoor Activities • Utah is home to 5 national parks, 7 national monuments, • 2 national recreation areas, and 6 national forests • Arches National Park • Bryce National Park • Canyonlands National Park • Capital Reef National Park • Zion National Park Source: Utah Travel & Adventure

  23. Cultural Activities • Home to a Wide Range of Cultural • and Performing Arts • Utah Symphony and Opera • Ballet West • Pioneer Theatre Company • Utah Shakespearean Festival • SUNDANCE FILM Festival • Repertory Dance Theater • Ririe Woodbury Dance Company • Egyptian Theatre • Mormon Tabernacle Choir • Children’s Dance Theatre Source: Utah Travel & Adventure

  24. Examples ofRecent Success

  25. Recent Expansions

  26. Recent Expansions Project Donut – Duncan Aviation • 657 new aerospace/aviation jobs in Provo • $58 M in capital investment Project Hudson – Avalanche Software / Fall Line Studios • 565 new IT jobs in Salt Lake City • $15 M in capital investment Project Gold Rush – Procter & Gamble • 1,000 new manufacturing jobs in Box Elder County • $540 M in capital investment Project Jackrabbit – First Wind • 25 new energy (wind farm) jobs in Milford • $400 M in capital investment

  27. Recent Expansions Project Topaz – eBay • 50 new IT jobs in South Jordan • $334 M in capital investment Project Flash – Reckitt Benckiser • 100 new distribution jobs in Tooele • $32 M in capital investment Project Heart – WorldHeart Corporation • 65 new & 35 retained life sciences jobs in Salt Lake City • $18 M in capital investment Project Wellspring 2 – Cephalon • 50 new manufacturing jobs in Salt Lake City • $18 M in capital investment

  28. Recent Expansions Thank You Goldman Sachs

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