Feb. 21, 2008

  

A Publication of the Economic Development Corporation of Utah
CEO Jeff Edwards

PRESIDENT'S

MESSAGE
We Applaud Legislative Efforts to Set Immigration Policy; Please be Cautious

With 10 working days left in the 2008 legislative session, our policymakers are busy with the heaviest decisions and weightiest of matters regarding budgets, taxes, transportation, education, healthcare and immigration reform issues (to name a few).

We applaud the legislature for striving to balance a multiplicity of voices and needs regarding state appropriations and policy-making priorities. We also applaud the legislature for trying to address the highly complex, divisive and emotional social issue of immigration reform. Clearly, immigration reform must be addressed; however the issue defies easy solutions and is certainly appropriate for national debate. Differing state laws will only add confusion and uncertainty for businesses, especially for those with multi-state operations.

As an organization devoted to building Utah's economy and supporting business recruitment and expansion efforts, EDCUtah believes the immigration issue requires careful, thoughtful study. Hasty decisions could have an enormous impact upon Utah businesses and the state's economy. This same sentiment was expressed last week during a press conference at the Capitol. Speaking on behalf of the newly formed Immigration Policy Coalition (IPC), Salt Lake Chamber President and CEO Lane Beattie said, ?Nobody understands immigration and its effect on the state of Utah like Utah businesses that are on the front lines on this complex issue. Businesses understand the economics of immigration and can foresee the unintended consequences of rash action.?

Utah Restaurant Association CEO Melva Sine expressed similar concern. ?Until an individual is educated as to the actual impacts of immigration as it relates to real people and real businesses, it is difficult to understand the issue, and even then, there are no easy solutions. Immigration deserves a double dose of thought and caution,? she said.

Since immigration reform legislation was first proposed in the 2008 Legislature, Utah's leading newspapers have weighed in on the matter with thoughtful, provoking editorials:

  • Salt Lake Tribune, Denying education to undocumented immigrants doesn't make sense, February 4, 2008
  • KSL Editorial, Immigration Task Force, February 15, 2008
  • Deseret Morning News, Immigration policy should reflect Utah's values, February 18, 2008
  • Standard-Examiner, Immigration and humanity, February 17, 2008
  • Logan Herald Journal, Illegal immigrants not so unlike us, February 17, 2008
  • Deseret Morning News, Educating immigrants would help Utah, February 17, 2008
  • The Daily Herald, Don't overreact on immigration, January 31, 2008

The Immigration Policy Coalition was formed to support sensible and effective immigration policy that will benefit the state of Utah. Business leaders are joining non-profits and religious organizations in an effort to advocate for reasonable immigration policy, avoid unintended consequences of ill-advised legislation, and provide a mainstream voice for sensible immigration policy reform. Leading the organization is the Salt Lake Chamber and The United Way of Salt Lake. Others involved represent non-profits, religious organizations, and industries such as agriculture, education, manufacturing, hotels, restaurants, homebuilding and construction.

The coalition is encouraging the Utah Legislature to pass Senate Bill 97, which creates an Immigration Task Force to recommend productive immigration legislation. Sponsored by Sen. Scott Jenkins, SB97 directs an in-depth study on immigration and its effects on the state of Utah. Further study regarding the impact of these laws on businesses and the economy is imperative.

EDCUtah believes SB97 is the most pragmatic approach to the immigration reform debate. Truly, this complex issue deserves precise measurement and sensible action. Further, we believe it is in Utah's best interest for our federal delegation to take an active role in leading the immigration debate at the national level. Pressing forward without knowing all of the possible consequences of legislative action could prove disastrous for Utah businesses and the state.

Jeff Edwards
Jeff Edwards
President and CEO


P.S.  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.

CALENDAR

Mar. 19: Executive Committee (EDCUtah)
Mar. 20: Governor's Economic Summit (Grand America)
Mar. 26: Quarterly Update

April 1-3: JEC (Paris)

April 14-16: SME (Salt Lake City)
April 16: Executive Committee (EDCUtah)
 

May 4-7: CoreNet (San Diego)
May 18-21: ICSC (Las Vegas)
May 18-22: SAMPE (Long Beach)
May 21: Board


June 4: Golf Tournament (Wasatch Mountain)
June 9-12: AUVSI (San Diego)
June 17-20: BIO (San Diego)
June 18: Executive Committee (EDCUtah)
June 25: Quarterly Update (Thanksgiving Pointe)

Aug. 6: OIA Thought Leader

Sept. 13-17: IAMC (Oklahoma)
Sept. 25: What's Goin' Down Up North - Northern Utah Economic Summit Thursday, September 25, 9 a.m. - 3 p.m. Utah State University Innovation Campus, North Logan. Registration form.

Oct. 9-12: CoreNet (Orlando)
Oct. 22: Quarterly Update

Dec. 17: Holiday Open House (EDCUtah)

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IN THE NEWS

Economic Development Headlines from the Past Week

$7 million being invested in rehab of historic Boston Building

- Hamilton Partners, which acquired the Boston Building last April, is investing more than $7 million to refurbish the 107,000 square foot building and restore it to near historical accuracy. (SL Enterprise)

Centers of Excellence program modified grant-giving methodology

- With an annual budget of $3 million, the state's Centers of Excellence Program will now grant up to $500,000 only to companies that are licensing and planning to take to market any technology developed at a Utah college or university. (SL Enterprise)

Kohl's picks Orem as site for ninth store in Utah

- Kohl's Corp. will increase its Utah presence late this year with the opening of an approximately 90,800 square foot store in Orem. (SL Enterprise)

Orem golf course to get multi-million dollar clubhouse, office building

- The Links at Sleepy Ridge Golf Course in Orem will begin construction next month on a three-story, 40,000 square foot clubhouse and Class A office building. (SL Enterprise)

Cities aiming for more jobs, less blight

- The motivation behind two multimillion-dollar revitalization projects in West Valley City and Taylorsville can be boiled down to two simple things: more jobs and less graffiti. (Morning News)

South Salt Lake makeover to begin within week

- Within a week, demolition could begin on 18 acres of dilapidated buildings and hundreds of square feet of unappealing pavement that sits between Main Street and State Street near 2100 South. The Market Station development will boast a 27-story condominium building and 18 other buildings that will house additional owner-occupied housing units, prime office space and retail capacity. (Morning News)

Disney to boost games division

- The Walt Disney Co. is launching a major expansion of its Utah video game development business and expects to hire as many as 500 new employees over the next 10 years. The well-known entertainment conglomerate operates Utah's Avalanche Software and Fall Line Studios under its Disney Interactive Studios unit. It is now out to expand those businesses, which employ about 140 Utahns, to gain a stronger share of the $47 billion a year video games market. (SL Tribune) (Morning News)

Utah Fund of Funds Wants More $$

- The Utah Fund of Funds is asking lawmakers to triple the state's investment in the program, to a total of $300 million, through Senate Bill 11. (KCPW)

Weak dollar a gold mine

- The dollar may be foundering, but Utah's tourist industry is reeling in some big ones thanks to the lopsided international exchange rate. Europeans, Canadians and even Brazilians are flocking to Beehive State resorts and national parks, where they reap a big bang for their euros, loonies and reals. (SL Tribune)

Project downtown Provo: Community discusses revitalization plan

- A stew of frustration, anger, hope and goodwill spilled over in Provo on Saturday morning at a public meeting about whether Provo's downtown can be revitalized and how. (Daily Herald)

U.S.-China relations focus of event

- Improved U.S.-China collaboration in science, technology, education and economic development.
That was the theme of the 17th annual Chinese Association for Science and Technology convention held for the first time in Utah on Saturday. The late afternoon and evening event, at the Little America Hotel, featured a forum for exchanging ideas with various experts in U.S.-China relations. (Morning News)

Wal-Mart tweaks its plans for 2nd store

- Corporate Wal-Mart officials are still planning to construct a store on Logan's south end, but say the plans have been affected by a company goal moderate growth of its U.S. supercenters. (Herald Journal)

Hint of recession? Utah unemployment low, but job growth engine cools

- Just one year ago, talk of "recession" in Utah would have been laughable. But not anymore. A report Tuesday from the Utah Department of Workforce Services shows that job growth has slipped to 2.8 percent, which in the mind of one of the state's top economists raises the specter of a downturn so pronounced and widespread that a fairly large share of the state's residents and businesses would feel it. (SL Tribune) (Daily Herald) (KCPW)

Business leaders raise voice on immigration

- The newly organized Immigration Policy Coalition, formed by organizations that include the Salt Lake Chamber of Commerce, the Utah Manufacturers Association and the Utah Farm Bureau, wants legislators to step back, consider their efforts' negative effects on business and instead study immigration issues with an eye toward ensuring the availability of legal immigrant labor. (SL Tribune)

Adam Aircraft Shuts its Doors

- Adam Aircraft Industries suspended operations Monday at its headquarters in Colorado, putting about 500 remaining employees out of work indefinitely. (Standard-Examiner)

Salt Lake Ranked No. 1 for House Bargains

- With mortgage rates down and interest rates lowering, the Wasatch Front is now considered a prime market for homebuyers. Forbes magazine recently ranked Salt Lake at No. 1 on its list of the ?10 best cities for bargain house-hunters.? (Utah Business Magazine)

UTC focuses on Fund of Funds this Legislative Season

- Utah is considered one of hottest places to invest, and much of that can be attributed to the Fund of Funds program, according to the Utah Technology Council (UTC). UTC members met with Senate President John Valentine and House Speaker Greg Curtis to discuss some of the most pressing technology and business issues, including the Fund of Funds program Wednesday. (Utah Business Magazine)

BYU MBA program announces 2008 Hawes Scholars

- Brigham Young University's Marriott School of Management has announced eight Master of Business Administration candidates as its 2008 Hawes Scholars. The honor, which carries a cash award of $10,000, is the highest distinction given to second-year MBA students at the school. (Utah Business Magazine)

NFIB: Helping the Little Guy

- Big businesses often drown out the voice of mom and pop stores during legislative season, but with a little help from the National Federation of Independent Business (NFIB), Utah's small businesses are finally being heard. Candace Daly, Utah state director for NFIB, works as an advocate for Utah's small businesses and explained some of the challenges small businesses face during a NFIB conference Monday. (Utah Business Magazine)