PRESIDENT'S MESSAGE
	Profiles Detail Strength of Utah Industries
Utah is experiencing the best economy in the country. Today, our economy is built upon a firm foundation – a foundation that represents businesses from diverse industries – that will keep our economy running in leaner years. One indicator of our success can be found in EDCUtah’s in-depth industry profiles. Currently, we offer 11 such profiles that detail Utah’s strength in a particular segment; along with the industry’s top performers in Utah. In addition, this issue of the Economic Review includes links to many of the ED-related news stories from the past week. If you have comments, suggestions or topics you’d like to see in the Economic Review, please contact us by clicking the “Comments” link on the bottom of this page. Enjoy! Jeff Edwards President and CEO

FEATURE

EDCUtah’s Industry Profiles
Provide an In-Depth Look at Utah

Did you know Utah has one of the highest concentrations of advanced composites companies in the nation, with some 41 companies employing approximately 10,000 Utahns?

Or that Utah’s manufacturing industry comprises 10.6% of all state employment (125,000 Utahns), and boasts an average payroll 18 percent higher than the statewide average for all other industries and second in the state only to mining?

Such information can be obtained from 11 industry profiles researched and updated annually by EDCUtah’s Data Center.

“These profiles provide an in-depth look at important business activity and economic data in key Utah industries, which are part of or closely associated with the economic clusters identified by the Governor’s Office of Economic Development,” says Kim Lofgreen, EDCUtah’s vice president of marketing and communications.

The profiles are critical to EDCUtah’s recruitment efforts and discuss industry activity at a level important to companies as they consider expanding or relocating operations to the state. Currently available profiles highlight the following industries:

Information Technology
Utah has become the epicenter of the ‘Inc. 500 Fastest-Growing Private Companies’ in recent years, and according to the Utah Department of Workforce Services, Utah's IT industry grew more than 13% with 2,984 companies in 2005.

Manufacturing
Since 2004, this business sector has experienced an increase in employment every quarter. Presently, the manufacturing industry employs around 125,000 workers in Utah.

Distribution
As the “Crossroads of the West,” Utah is a hub for the nation’s distribution industry, with an extensive freeway system, a major rail system with more than 1,400 miles of railroad track, and an international airport handling over 550 million pounds of air cargo and freight annually while also servicing over 22 million passengers in 2005.

Call Center
Utah’s call center industry continues to grow and play a major role in the development of the state. Utah has many customer service centers, with total employment of telemarketers and customer service representatives reaching 31,310, according to the Bureau of Labor Statistics.

Life Sciences
Utah’s vibrant Life Sciences industry boasts more than 250 companies, offers a world-class effort in arterial and vascular access devices (producing 70 percent of all devices used worldwide), and developed the first human artificial heart. In addition, Utah is active in the biotech and drug delivery sectors, coupled with the state's genealogy records, making Utah Human Genome Databases the most comprehensive in the world.

Nutritional Products
The nutritional supplements industry is Utah’s third largest. Currently, there are more than 150 nutritional product companies in the state, with annual revenues ranging from $2.5 to $4 billion a year, which accounts for 10% to 20% of the U.S. nutritional supplement market.

Outdoor Products
Utah is the up and coming hot spot for many outdoor manufacturers and retailers. Many such companies are looking to the state to house their corporate headquarters and primary manufacturing facilities.

Utah Industrial Banks
Industrial Banks (IBs) are financial institutions that have experienced rapid growth in the U.S. over the past decade. Utah has proven to be a particularly attractive place to operate IBs and now hosts more than 34 such organizations. What’s more, IBs chartered in Utah currently hold the bulk of IB industry assets.

Advanced Composites
Utah has developed a complete infrastructure supporting the advanced composites industry, including raw materials, engineering capability, an excellent workforce, manufacturing capability, sales experts, machine design, manufacturing support and general support.

Aerospace
Utah is one of the top 10 states in the nation in the concentration of aerospace employment and is rich with business opportunities in the aerospace industry. Utah is home to several centers for technological development in computer and propulsion technology, and major aerospace companies such as ATK/Thiokol. The industry is highly supported by colleges and universities across the state. Flight schools and aviation programs provide Utah with a highly educated and experienced workforce.

Data Center
Utah's high-tech industry is one of the largest industry sectors in the state. Utah's history as a center for the high-tech industry is long and distinguished. In fact, Salt Lake City has been recognized among the most technologically advanced cities in the United States.

Lofgreen says the Utah Manufacturing Industry Profile is most in demand, since “a good portion” of EDCUtah’s projects are manufacturing-related. However, since many companies are looking for warehousing and/or distribution points in the west, the Utah Distribution Industry Profile is also highly sought after.

Each profile emphasizes Utah’s strengths in the particular industry segment, the state’s , educated workforce, its transportation and distribution benefits, lower business costs, and other features appropriate to each industry. Furthermore, each profile lists Utah’s leading businesses within the industry, based upon the number of employees. For example, the largest manufacturing companies in the state are: Alsco, Inc., Boart Longyear Company, and Sinclair Oil.

The take away, according to Lofgreen, is the valuable research EDCUtah provides regarding Utah’s top industries. “We do the research so that our clients and partners don’t have to,” Lofgreen says.

Management Guru David Ulrich to Conduct UTC Seminar April 20th

A top ten global thought leader, David Ulrich, will address Utah business executives April 20th at the UTC 2007 Annual Educational Seminar. Dr. Ulrich has consulted and done research with over half of the Fortune 200 and has also been listed in Forbes as one of the "world’s top five" business coaches.

During the UTC Dr. Ulrich will discuss “The new competitive realities for growth and leadership responses.” Business leaders will have a chance to learn how to get more value from the organization’s most strategic resource—their people. The event will be held for UTC members and the extended technology and business community at the Little America Hotel from 7:30 a.m. to 10:00 a.m.

To register for the David Ulrich event, click here or  call 801-568-3500. Member companies can purchase a table for $600 or individual UTC member’s can sign up for $60. The non-UTC member cost is $900 per table and $90 per non-UTC member individual.

About Utah Technology Council

For information on UTC, please visit www.utahtechcouncil.org.