President's Message Governor's Economic Summit Full of Valuable Information On Monday more than 1,000 business and civic leaders gathered at the Grand America Hotel in downtown Salt Lake City for the Governor' Economic Summit. The keynote addresses and breakout sessions were both enlightening and educational, as were the comparisons made between the Utah and national economies. It was a great summit and we hope you were able to attend. If not, you may follow the news coverage of the summit via links in our "In the News" section of this newsletter. EDCUtah was pleased to be a sponsor of this important event. On another note, we want to express our appreciation to the Davis Conference Center in Layton for a great EDCUtah Quarterly Investor Update (QIU), which we held earlier this month. One important announcement I would like to share with you from the QIU is that our longtime friend, staffer and official government relations ambassador for EDCUtah, Lynn Pett, will retire at the end of our current fiscal year on June 30. "Thank you" does not seem adequate to express the appreciation we all feel to him for his dedication to the founding principles of our organization and the success he has helped create. We wish him all the best in his retirement. I am pleased to announce that we have found an excellent person to take over the government relations position: Mayor Dennis Nordfelt, who served as mayor of West Valley City from 2002 to 2010 and also served on the EDCUtah Board of Trustees during that time. Like Lynn, Dennis has been a strong advocate for EDCUtah. Dennis will begin working with Lynn over the coming months to get to know our members and will go with Lynn and other staff members to public meetings and events. 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

Feature Story Commercial Real Estate Recovery: Are We There Yet? Has Utah's commercial real estate market hit bottom? Are the capital markets unthawing? Will the retail sector be the first to rebound? Will investors swoop in and gobble up record bargains on distressed properties? Like other areas of the country, Utah's commercial real estate market was hit hard by the recession. In fact, 2009 was a difficult year for the market in most respects; however, 2010 looks much more promising and 2011 even better. While no one has a crystal ball, EDCUtah's partners from the commercial real estate sector say they are cautiously hopeful that improvements in Utah's job market will lead to the recovery of the commercial real estate sector. You can read the enlightening story about Utah's commercial real estate market and where it is headed in EDCUtah's spring Site Selector Quarterly (SSQ) newsletter, which is being distributed this week to site consultants, real estate brokers, business leaders, and many other interested parties across the state and nation. Written from the perspective of EDCUtah's partners in the commercial real estate market, the feature story provides an engaging look at the market, its challenges, and how it is connected to the state's job market. Read the full story online in our Site Selector Quarterly newsletter.

Calendar

April 7-9
ULCT (St. George, UT)

April 13-15
JEC Composites (Paris, France)

April 18-20
CoreNet Global Summit (New Orleans, LA)

April 20-21
Utah Multi-Cultural Business Expo 2010 Sponsorships | Supporting Sponsor Form

April 22
Utah Fund of Funds Medical Device Symposium (Salt Lake City)

April 24-28
IAMC (Colorado Springs, CO)

May 3-6
BIO (Chicago, IL)

May 17-20
SAMPE 2010 (Seattle, WA)

May 23-26
ICSC RECON (Las Vegas, NV)

May 23-26
Windpower 2010 (Dallas, TX)

June 2
Save the Date! EDCUtah Match Grants Golf Tournament, 7:30 a.m. start (Eaglewood Golf Course) Title Sponsor: CB Richard Ellis

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Gov, business leaders optimistic about Utah's economic future
About 1,000 of Utah's business leaders had lunch with Gov. Gary Herbert Monday during his annual economic summit. Many who attended were optimistic about Utah's outlook in business, including the governor himself.
(KSL)

A tale of two economies: Governor stresses Utah positives, while other summit speakers lament U.S. challenges.
As the state's chief economic cheerleader, Utah Gov. Gary Herbert did not disappoint. The featured speaker at The Governor's Utah Economic Summit on Monday, Herbert accentuated the positive developments within the state's economy and downplayed the negatives.
(Salt Lake Tribune)

Economist urges Utah to embrace diversity
"Our success as an economy is directly related to our investment in intellectual capital," she [Pam Perlich] said during a presentation at the Governor's Utah Economic Summit at the Grand America Hotel.
(Deseret News)

NCAA March Madness comes to Salt Lake City
The NCAA Men's Basketball Tournament has made its way to Utah. The Western Regionals...at EnergySolutions Arena...is certainly a big deal for Utah and Salt Lake City.
(KSL) (Deseret News)

Zions Bank move, Nu Skin expansion revitalizing downtown Provo landscape
Under heavy security, nine banks of safe-deposit boxes were hauled Friday from the old Zions Bank building on 100 N. Freedom Boulevard into the new Zions Bank Financial Center on University Avenue and 200 North.
(Deseret News)

Small energy company eyes Utah's oil sands
An energy company with government approvals to launch the first significant U.S. oil sands project is trying to raise money to build a plant in eastern Utah that would turn out 2,000 barrels of oil a day.
(Deseret News)

Becker, Mormon church honored for Salt Lake progress
Despite a nationwide recession, Salt Lake City Mayor Ralph Becker says progress downtown hasn't slowed down.
(Deseret News)

Broadband wave washes over Utah
Utah is in the midst of a broadband arms race, and Utah consumers stand to benefit from the battle.
(Deseret News)

Big I-15 makeover is ready to begin
Interstate widening season is about to begin, and this time it will be the biggest public-works price tag in Utah history. Provo River Constructors, a 31-company consortium headed by Fluor Enterprises and Ames Construction, has a $1.1 billion contract to rebuild and widen Interstate 15 from Lehi to Spanish Fork.
(Deseret News)

Salt Lake convention business hurt by recession in 2009
The Salt Lake area saw both significant growth and decline in its convention and tourism industries last year, according to a recent report.
(Deseret News)

MBA grads give thumbs up to BYU, U. business schools
Business schools at the University of Utah and Brigham Young University have scored high on a national student survey for the second consecutive year.
(Deseret News)

Economic development department moves to Provo mayor's office
Like former Mayor George O. Stewart, John Curtis is taking a more hands-on approach to economic development.
(Salt Lake Tribune)

Deseret Book set to open at City Creek Friday
Deseret Book is about to unveil its new flagship store in downtown Salt Lake City. It will be the first big retail outlet in City Creek Center.
(KSL) (Deseret News)

Downtown Alliance honors contributions to Salt Lake City
The Downtown Alliance hosted the 15th annual Downtown Achievement Awards and Annual Meeting at the Salt Lake City Marriott Downtown. The awards honor the extraordinary contributions individuals and organizations made to downtown Salt Lake City during 2009.
(Utah Pulse)

Utah has lost 19,200 jobs to China since 2001
Utah lost 19,200 jobs to China trade since that country joined the World Trade Organization in 2001, according to a report released Tuesday by the Economic Policy Institute.
(Deseret News)

Politicians and businesses eye new vision for State Street
Salt Lake County Mayor Peter Corroon sums up State Street in one sentence: "Retailers covet it, kids cruise it and urban planners hate it," he said.
(KSL) (KCPW)

Silicon Slopes promotes Utah's other exciting industry
About four years ago Josh James, founder of the Orem-based online marketing and web analytics company Omniture, grew frustrated about the way his industry in Utah was perceived.
(Park Record)

New Enable Industries chief plans jobs
If the new president of Enable Industries has his way, he'll not only create jobs for people with disabilities but he'll also save money for area businesses.
(Standard-Examiner)