EDCUtah Jan. 12, 2010
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Economic Review
Jeff Edwards, president & CEO of EDCUtah President's Message
Southern Utah a Gem of Opportunity for Entire State

As I head south for this year's Washington County Economic Summit, I am reminded of the beauty and open space Utah has to offer. Our state continues to be heralded as a great place to live, work and play, and it only takes a short drive to see just why we get that recognition. I hope you will be joining me tomorrow, January 13, for the Summit, otherwise known as "What's Up Down South". This is the best opportunity to get a clear picture of economic development in southern Utah. Plus, Senator Bob Bennett and Governor Gary Herbert will be speaking. I hope to see you there.

And don't miss the EDCUtah Entrada Reception before the Summit. It will be held tonight from 5:30 - 8 p.m. Please RSVP to Eileen Burt.

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

Jeff Edwards
President and CEO

Join the Utah Pavilion at BIO 2010

In the News

Economic woes: Worst is over for Utah, U.S.?
Using different words, national and state economists offered the same message Thursday in delivering the 2010 Economic Report to the Governor.
(Salt Lake Tribune) (KCPW)

Herbert, Bennett to speak at Washington County Economic Summit
The 13th annual Washington County Economic Summit will take place starting at 7 a.m. Wednesday, Jan. 13, at the Dixie Center.
(Deseret News)

Larger turnout expected for Outdoor Retailer
More stores and buyers are registered for this year's Outdoor Retailer Winter Market than last year, according to trade-show organizers.
(Salt Lake Tribune)

Getting ready for Dew Tour
Eight years after the 2002 Winter Olympics, Snowbasin will again be in the national and international spotlight when the prestigious Winter Dew Tour comes to town this month for a four-day ski and snowboard competition featuring some of the biggest airs and most technical tricks being performed today.
(Standard-Examiner)

'Green jobs' grant going to Salt Lake area
A "green jobs" training grant totaling more than $1.9 million was awarded Wednesday by the U.S. Department of Labor to benefit five areas in the U.S., including Salt Lake City.
(Deseret News)

Sundance Festival adapts to economic tough times
The tough economy has forced the Sundance Film Festival to tighten its belt, but organizers hope moviegoers won't notice much of a difference in Park City's January hoopla.
(Salt Lake Tribune)

Salt Lake City a vibrant part of Sundance
Three screening venues and one official cafe may not seem like much, but the Salt Lake City district of the 2010 Sundance Film Festival is for those who prefer a more manageable festival vibe.
(Salt Lake Tribune)

Robots of the future
Exoskeletons that give mere mortals superhuman strength, and human-made "snakes" that slither unseen up tall poles to unobtrusively "spy" for handlers half-a-world away, aren't just fodder for comic books or futuristic movies anymore.
(Salt Lake Tribune)

Sorenson donation to complete U. business school project
Utah philanthropist James Lee Sorenson and the Sorenson Legacy Foundation are donating $4.34 million to the building of the University of Utah's David Eccles School of Business.
(Deseret News)

Centerville may get Megaplex theater
Night life in Centerville? A few years ago that would have sounded nearly impossible.
(Deseret News)

Events help stimulate local economy
Bringing in ideas for tournaments, half marathons, entertainment and conventions to Cedar City is all part of the job for Byron Linford.
(Spectrum)

Can downtown Logan turn the corner?
Logan’s downtown is doing pretty good, but it could be doing better, according to people concerned with its health.
(Herald-Journal)

Economists anticipate slow recovery
The state and national economies are in recovery mode after one of the most severe recessions in decades. But don't expect an overnight improvement.
(Deseret News)

Mormon church acquires 13 acres in downtown Salt Lake City
The Church of Jesus Christ of Latter-day Saints has purchased 13 acres of prime downtown Salt Lake City real estate from The Sinclair Companies, formerly known as Sinclair Oil Corp., the hotel and oil corporation owned by Utah billionaire Earl Holding.
(Deseret News) (Salt Lake Tribune)

Ground broken for the Ogden River renovation
A ceremonial turning of dirt with gilded shovels didn't seem to be enough for Thursday's crowd.
(Deseret News) (Standard-Examiner) (Fox 13) (KSL)

Cable TV ads to tout Utah's snow
The Utah Office of Tourism has begun a 20-day national cable TV advertising run this week, highlighting the state's winter tourism offerings.
(Deseret News)

Solitude hoping to expand into Silver Fork Canyon
Solitude Mountain Resort has taken the first steps to expand its recreational ski area northward into the beautiful, pristine Silver Fork Canyon area.
(Deseret News)

Op-ed: Why Utah needs the Utah Symphony
Utah Symphony head Melia Tourangeau knew just what to do with the million-dollar gift her organization received last month from the Eccles Foundation. "I delivered it straight to our CFO so that we could make payroll," Tourangeau said.
(Salt Lake Tribune)

Calendar

January 13, 2010
13th Annual Washington County Economic Summit 2010 at the Dixie Convention Center. (St. George)

January 21-24
Outdoor Retailer Winter Market (Salt Lake City)

February 9
Corralling Fundamentals: the Real Estate Drive for Solutions -- the 16th Annual CCIM | NAIOP Utah Commercial Real Estate Symposium brings together one of the largest gatherings of industry professionals representing a variety of segments in commercial real estate for a 2009 review and 2010 forecast of Utah market conditions. Featuring a keynote presentation by Governor Gary Herbert and Zions Bank's Michael Morris will provide a capital markets outlook. Local real estate professionals will present industrial, investment, office, and multi-use/retail market overviews. Registration at http://bit.ly/7BewsP.

March 18
EDCUtah Quarterly Investor Update

March 22
Governor's Economic Summit

May 3-6
BIO (Chicago, IL)

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The EDCUtah Economic Review is a weekly publication of the Economic Development Corporation of Utah. It is distributed to EDCUtah partners and selected other government and civic organizations interested in Utah's economic development.

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Feature Story
Conductive Composites Company to Expand Manufacturing, Employment in Emery County

When George Hansen was in the second grade, his parents gave him a book about plate tectonics during a visit to Craters of the Moon National Monument in Idaho. For his 10th birthday his father gave him a chart of nuclides (which distinguishes the isotopes of Earth's elements as compared to a periodic table, which maps the chemical behavior of those elements).

"The chart was probably something my dad (a nuclear physicist) picked up at a convention, but I thought it was really cool," Hansen says with a chuckle. "We were an extremely scientific family…I wasn't interested in sports."

Nanotechnology
Studies of plate tectonics and nuclides were Hansen's launch pad to a serious study of the sciences and eventually into nanotechnology--controlling matter on an atomic and molecular scale and developing materials or devices within that size. After obtaining a degree in chemical engineering from BYU ('79) Hansen joined IBM for a five-year stint. However, in 1985 the entrepreneurial itch was too great and Hansen left IBM to form a company focused on a relatively new and growing industry called composites. Much to the chagrin of his wife, Cynthia, their kitchen became Hansen's chemistry lab. It was there that he developed his early ideas and processes on which his new company would focus--making composite materials electrically conductive. While composite materials were becoming increasingly stronger and lighter than metal products, they lacked conductivity. Making composites conductive is essential for their use in digital communications, computers and warfare technologies.

Hansen's early efforts led to a $750,000 contract with the military, which seeded the company for future growth. Today, Conductive Composites Company is a world-class leader in the industry and has developed a suite of electromagnetically active nanomaterials that are used to create high performance electrically conductive adhesives, paints, resins, elastomers, coatings, gaskets, and surfacing films. "It's really cool!" Hansen declares. Conductive Composites' customers range from the Department of Defense to an array of high-tech companies in the telecom and computer industries.

World-class Technology
Says Hansen: "This is world-class technology, home-grown in Utah. It wasn't bought or moved here from somewhere else, it essentially came out of my kitchen! There is nothing that even comes close to what we are able to do. Our materials have been used to achieve unsurpassed levels of electromagnetic performance in composite and polymer systems."

Having grown out of its 5,000 square foot facility in Heber City, the company is now in the process of relocating its manufacturing facility to rural Green River, Utah, where it plans to manufacture its products in greater volume. When the new manufacturing facility is complete, production will ramp up and employment will grow from the current team of 23 to between 40 and 50 employees.

A Home In Green River
Conductive Composites Company will begin manufacturing at a temporary facility near the airport in Green River, while its permanent manufacturing facility is constructed. When the expansion project began, Conductive Composites sought EDCUtah for help in finding a good location for its new facility. The company wanted to locate in rural Utah. EDCUtah contacted Mike McCandless, economic development director for Emery County and worked closely with him and county leaders to help the company find a suitable manufacturing location, housing and financing.

Why Green River? Hansen prefers a rural setting, for security and other reasons. Green River is also highly accessible, since it is situated next to I-70 and State Highway 6. Naturally, McCandless and Emery County leaders couldn't be more thrilled. "This is a real shot in the arm for Green River, which is largely dependent on its hotel industry and has nearly as many hotel beds as residents," says McCandless. "The company's wages will be 135 percent of the median wage for the community. We hope Green River will be a nice fit for Conductive Composites. The project is a really great step in our efforts to diversify the Emery County economy from coal mining and power plants into other industries."

Utah's Composites Industry
It's no surprise Conductive Composites Company is flourishing in Utah. The company's highly innovative products are often 1,000 times more conductive than those of its competitors. In 2005 the company was awarded a Defense Acquisition Challenge Grant for $1.7 million from the Office of the Secretary of Defense--one of only 26 winners from 477 applicants. Furthermore, Hansen is a recognized leader in his field. He has published numerous technical papers at conferences and in 2006 he received an RD 100 award, which is essentially an "Oscar of Industry" for being one of 100 best industry ideas. What's more, by being headquartered in Utah, Conductive Composites is able to draw on the strength of Utah's leadership and rich history as a center for advanced composites R&D and manufacturing. The Beehive State has one of the highest concentrations of advanced composites companies in the world. Over the years, the state 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.

Because of the high concentration of advanced composites companies in Utah, the Governor's Office has identified composites as one of the state's major economic clusters, which are groups of related businesses and organizations whose collective excellence and collaboration provide a sustainable competitive advantage. Consequently, EDCUtah works closely with the Governor's Office of Economic Development (GOED) to help composites companies grow here and encourage out-of-state companies to consider relocating to Utah because of the excellent environment and strong support for growth.

Like Conductive Composites Company, the overall future of the composites industry looks bright for Utah as government and industry demand continues to grow. Utah's advanced composites industry has always been highly innovative. For that reason tremendous breakthroughs have and will continue to occur here.

EDCUtah