President's Message
Happy New Year, Utah!
The New Year is a great way to celebrate all that Utah has to
offer and the things that make the state such an excellent draw
for economic development. The University of Utah football team
gave Utah a cheerful start to the New Year by beating the Alabama
Crimson Tide in the Sugar Bowl last Friday in New Orleans,
Louisiana. On behalf of EDCUtah, I would like to send warm
congratulations to the entire team and especially to quarterback
Brian Johnson, who spent a semester as an intern working for
EDCUtah. We hope the win by the Utah football team is a harbinger
of the many wins EDCUtah expects to see in economic development
over the course of 2009.
EDCUtah would also like to remind you of our yearly southern Utah
reception, held at the Entrada Resort in St. George, which takes
place in conjunction with "What's Up Down South," the yearly
economic development summit at the Dixie Center. We hope you can
attend this excellent event and get involved in all the positive
economic development work going on in the southern part of our
state. Event details are as follows:
Entrada
Tuesday, January 13, from 6 to 8 p.m.
Entrada @ Snow Canyon Country Club
2537 W. Entrada Trail, St. George
www.golfentrada.com
Click here to view our invitation (PDF).
Please RSVP by Wednesday, Jan. 8 to Eileen Burt by calling
323-4249 or e-mail
eburt@edcutah.org. We do hope to see you there!
Today's Economic Review also includes links to many of the
ED-related news stories from the past week. As always, 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
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Feature
'What's Up Down South?'
to Focus on Positive Indicators for Economic Development
The collapse of the housing market hit Utah's "Dixie" right between
the eyes and anyone remotely associated with the residential real
estate and construction markets there has felt the subsequent
pain.
Still, despite the market's free fall and the struggle for
residential housing prices to find a bottom, economic development
leaders see the situation as a temporary one and express optimism
about the strength of the underlying economic base. The 12th
annual
Washington County Economic Summit, to be held Jan. 14 at the
Dixie Center in St. George, will showcase the strength of that
base. The summit runs from 7 a.m. to 2 p.m., with a free bonus
session from 2 to 4 p.m. and Jill Ellis, planning chair for the
summit, says she expects the summit will draw between 750 and
1,000 participants.
Michael Flynn, vice president of public development for EDCUtah,
says the summit is an exciting event that brings together the public and private sectors in
one forum.
Governor Jon Huntsman will open the summit, kicking off a day
packed with keynote addresses, breakout sessions featuring
high-powered business leaders, and networking events. Here are a
few highlights of what participants can expect to experience:
- EDCUtah President and CEO Jeff Edwards will help lead a
breakout session covering healthcare reform. Since the Utah
legislature passed a bill setting up a task force to study
comprehensive health care reform, everybody with a stake in the
issue has been bringing out ideas and issues for discussion. The
healthcare reform session will discuss various proposals
including how new national leaders and their policies may affect
the health care scene.
- World Trade Center Utah President and CEO Lew Cramer will
team up with the Jones Waldo group in a break session that
demonstrates how small businesses can access new markets, sell
goods overseas and create new jobs at home. Exporting can be an
avenue to tap into the increasing global marketplace and its
advantages can mean big opportunities for entrepreneurs that
want to capitalize on emerging markets worldwide.
- Three Utah-based experts who have made effective use of
social networking and other interactive web tools will lead a
panel discussion about their experiences. Kelly Anderson of Startup Princess, Jim Bannister of SpectrumDNA,
and Marek Czerny of storesonline.com will focus on what social
networking is and how businesses can leverage this and other
emerging capabilities such as blogs, interactive discussions and
machine-to-machine communications. The discussion will be
moderated by USTAR regional director William Pratt.
- The Lake Powell pipeline: The availability of water
resources is critical to continued population growth in Utah's
Dixie. The Lake Powell Pipeline is a proposed solution. While
controversy continues to swirl over the issue, the facts are
frequently not explored. This session will illuminate some of
the outcomes and implications of water sources including a
report of two who hiked the proposed pipeline route in the fall
of 2008.
- Utah entrepreneur Amy Rees Anderson will give the luncheon
keynote address. Amy is the CEO of Mediconnect Global, Inc., an
online medical record retrieval company that she founded. The
company now employs over 1,000 individuals worldwide.
Mediconnect utilizes state-of-the-art web technologies and a
patented workflow design to facilitate the retrieval of patient
medical records for the Legal, Life Insurance, Health Insurance
industries as well as for consumers.
- "What's Up Down South?" is a popular session at the summit.
It features 12 presenters that will highlight their expansion
projects in quick, five-minute intervals. Scott Hirschi,
director of the Washington County Economic Development Council (WCEDC)
says he knows of at least one closely held announcement that
will come out of the "What's Up Down South?" session. He notes
that participants will also hear from the developers of the old
airport site in St. George.
"We call it our own 'City Creek Center,'" Hirschi says, referring to the massive development taking place in downtown Salt Lake City.
Another point of interest to be covered will be St. George City's
"SunSmart"
program, which is a unique and aggressive approach to alternative
energy, where residents can purchase solar panels that are
located, operated and maintained for them at a city-owned
facility.
Presenters will also cover activities surround the new St. George
airport as well as developments in Iron County and Mesquite,
Nevada.
The afternoon "bonus sessions" offer an opportunity for extended
learning and networking after lunch. The bonus sessions are open
to the general public at no charge. Click here to view the
summit's schedule of events.
CALENDAR
Jan. 13, 2009: Entrada at Snow Canyon Country Club;
reception 6 to 8 p.m.
Invitation (PDF).
Jan. 14: Washington County Economic Summit, 7 a.m. to
2 p.m., Dixie Center, St. George, UT
www.whatsupdownsouth.com
Jan. 15: Utah Commercial Real Estate
Symposium, Salt Palace Convention Center, Room 255.
Register here.
March 24-26: JEC Composites Show (Paris, France)
http://www.jeccomposites.com/jec-show/
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Utah Football Team Wins the Sugar Bowl!
Southern Utah Spotlight
Despite the current downturn in the residential real
estate and construction market, the region is home to
magnificent scenery, a dry climate and a plethora of
recreational opportunities, such as boating, hiking, biking,
skiing, snowmobiling and hunting, that have made it one of the
fastest growing areas in the nation for four decades.
"Interestingly, and despite the current negative economy, all of the
elements that attract people to southern Utah are in place," says Scott Hirschi, director of the Washington
County Economic Development Council (WCEDC). "The lifestyle, the
climate, the scenery and the recreational opportunities that helped
drive 40 years of growth are still here. So we see the
current situation as a temporary hiatus. The growth will be back
in earnest for the entire region, including Beaver, Iron, Kane
and Washington Counties."
Hirschi says suggestions by some that Utah's Dixie, as that region of the state is known, was running
out of land helped drive up prices, but in reality there is
plenty of land available. Less than 50 percent of the available
land has been developed. So, too, for water resources there.
Hirschi says Washington County is not running out of water and
could sustain a population double or perhaps even triple the
county's current population of 150,000 without additional water
resources. Of course, water is an issue long term, but efforts
are underway to develop additional resources, including the Lake
Powell pipeline, which will be discussed at length during a
breakout session of the Washington County Economic Summit.
Michael Flynn, vice president of public
development for EDCUtah, adds that St. George has a lot going
for it and strong leaders like Hirschi and St. George Mayor
Daniel McArthur will help it ride out the economic
slowdown.
"Southern Utah has been such a huge part of our success," Flynn
says, "and companies know they can ride out the storm there. The
city has a phenomenal industrial park and other key developments
that will help it through the current economic conditions. All
indications are that Dixie's economy will be back, stronger and
better than before."
Hirschi says St. George and Washington County have enjoyed a
12-year partnership with EDCUtah.
"EDCUtah is a high-class organization and our partnership is
critical to economic development efforts in southern Utah.
Beyond that, Jeff Edwards is my good friend and hiking buddy and
it is a pleasure to associate with him," Hirschi adds.
In The News
Economic Development Headlines from the Past Week
Affordability at Park City's back door
-
HEBER CITY, Utah -- This is a place that truly lives up to its motto: "European charm. Western adventure." It's where Swiss Miss meets Buffalo Bill. You can stay at a Swiss-style luxury lodge and catch a cowboy poetry jam after dining on wild boar at a local restaurant. Or you can ski or snowmobile in the "Utah Alps," as the surrounding mountains are called, ride an old steam train through ranchland, and take a dip in a thermal crater. (Boston Globe)
10 great cities for salary growth
-
The Provo/Orem and Salt Lake metro areas rank among the 10 best cities for salary growth. (
Yahoo! HotJobs)
Two Utah companies post stunning gains for 2008
-
Utahns with the foresight to own shares in Myriad Genetics or
Merit Medical Systems were richly rewarded by those investments
during the past year. Despite sharp declines in the nation's
stock markets in 2008 -- the Dow Jones industrial average fell
34 percent and the S&P 500 38 percent -- Myriad's shares closed
the year at $66.32 for a staggering 43 percent gain. Merit's
stock price advanced an eye-popping 29 percent to close the year
at $17.88. (Salt
Lake Tribune)
Salt Lake sunshine: solar power plan a bright idea
-
Salt Lake County's solar power initiative is a ray of sunshine
in a dark, gloomy and rapidly warming world. There's nothing
unique about the technology. But the funding mechanism merits
more than a mention. If all goes according to plan, the roofs of
50 county-owned buildings will soon be covered with arrays of
solar panels producing clean, renewable electricity, and they
won't cost taxpayers a dime. (Salt
Lake Tribune)
Delta, Northwest International cuts bypass SLC
-
Delta Air Lines and its Northwest Airlines subsidiary are
delaying or cutting some flying to China and Europe because of
poor market conditions, but the reductions haven't touched Salt
Lake City so far. (Salt
Lake Tribune)
Op-ed: Utah's financial future looks bright for 2009
-
For many Americans, the financial and economic turmoil of 2008
was the worst they have ever experienced. The typical household
usually generates wealth from three major sources: jobs, home
equity and retirement accounts. The U.S. jobless rate in
November hit 6.7 percent, the highest since 1993. The
"underemployment" rate has shot up to 12.5 percent. A total of
1.9 million jobs were lost from January through November. (Deseret
News)
Logan company floats hydropower plan
- A
Logan company is floating its second proposal for a hydropower
pump project near Bear Lake. (Deseret
News) (Herald
Journal)
Raser Technologies adds more than 50,000 acres to its
geothermal resource portfolio
-
Raser Technologies, Inc. announced that it will continue to
expand its vast geothermal resources by acquiring 17 new lease
parcels covering more than 50,000 acres of geothermal, surface
and other rights in Utah as a part of the BLM (Bureau of Land
Management) geothermal auction on Friday, Dec. 19, 2008. The new
leases increased Raser's total geothermal holdings to over
300,000 acres in five states. (Utah
Business)
The Department of the Air Force awards $12.3 million
contract to Williamsen Manufacturing
-
Williamsen Manufacturing, a Salt Lake City based fabrication and
heavy manufacturing company, has been awarded a $12.3 million
contract by Hill Air Force Base.(Utah
Business)
Grow Utah Ventures Community Scholarship Program opens doors
for Utah's elite entrepreneurs
-
Grow Utah Ventures announced the Entrepreneurial Leadership
Initiative for Tomorrow's Enterprise (ELITE) community
scholarship program designed to prepare a select group of rising
entrepreneurs with the capabilities to create and lead future
high growth companies that will drive Utah's economy in the
years to come. (Utah
Business)
A blizzard of ski dollars
-
The lifts had just started running Friday morning and already
the Snow Park Lodge plaza was abuzz with activity. Lines at a
half dozen ticket windows were steadily four to five people
deep. Green-jacketed ski instructors were everywhere, rounding
up their classes. Hundreds of people hustled about. (Salt
Lake Tribune)
Voonami, Inc. announces three new adaptive data centers
-
Voonami, Inc., a provider of outsourced IT infrastructure and
data center solutions, announced the opening of their first of
several data centers at the Canyon Park Technology Center in
Orem. The company also announced two new adaptive computing data
centers to be built in Sandy and in Utah County. (Utah
Business)
Iron County '09 outlook is positive
-
Despite on-going economic struggles, the outlook is positive for
Iron County in 2009 with the promise of diverse trade and a
continued strong tourism industry throughout Southern Utah. (Spectrum)
Utah looking for more action sports events
-
Forever optimistic, Utah Sports Commission president Jeff
Robbins hopes a new alliance of action sports will stage more
events in Utah, given the enthusiasm Utahns have displayed for
The Dew Tour. Almost 64,000 people attended the four days of
skateboarding, BMX and freestyle motocross last September in and
around EnergySolutions Arena in Salt Lake City. That included a
Dew Tour single-day record of 26,000. (Salt
Lake Tribune)
Utah company picked to supply products for 6 of the bowl games
- Ogio,
a bag manufacturer based on Bluffdale, was a winner this bowl
season, with its products purchased by organizers of six of the 34
games. In some cases, the bags were provided to players, coaches
and staffs as part of their package of gifts provided by the bowl
committees. Some bags also make their way into the hands of bowl
organizers, media covering the games or bowl sponsors. (Deseret
News) |