Jeff Edwards, president & CEO of EDCUtah

President's Message

EDCUtah's New Brand Identity

You are probably noticing a change as you read the Economic Review today. We have recently redefined the EDCUtah brand identity with its accompanying logo/mark and look and feel. This exciting project, spearheaded by our VP of Marketing and Communications, Kim Lofgreen, has also resulted in the new design of the Economic Review.

The change was inspired by our on-going efforts to redefine EDCUtah as more than just a recruiting company, but as a unified association of Utah's private sector, cities, counties and state government that are committed and invested in strengthening Utah's economy.

We took the first step several years ago when we changed our "acronym" from "EDCU" to "EDCUtah." We recognized the importance of emphasizing our statewide reach through the united efforts of our many private and public sector investors.

In a second step, we created our public development department in order to more fully connect with our many investors, both public and private. By so doing, we are better able to help investors and communities be better prepared for and more involved in recruiting and expansion opportunities as they arise.

A third and critical step was the creation of our partnership with The Governor's Office of Economic Development (GOED). By connecting our investor base with the efforts of GOED we now have a unified and cooperative front that is recognized by many as one of the most coordinated statewide economic development efforts in the country.

As we have evolved, so have the needs of our brand's "look and feel." We recognized that it was time to develop a more contemporary and business-like brand that would reflect our broader reaching organization. We also added a dot pattern that made up the shape of the state. The dots represent that it is the efforts of many that truly define economic success of our state.

As we move forward, you will see the continued implementation of our new brand, starting with stationery, e-newsletters, website, office and tradeshow signage, and various marketing collateral.

We see this move as important in our efforts to create quality jobs today and for future generations.

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!
 

Signature

Jeff Edwards
President and CEO

Investor Spotlight: SelectHealth

"Economic development in the State of Utah is extremely important. It always has been and always will be," says Sid Paulson, president & CEO of SelectHealth, a not-for-profit organization within Intermountain Healthcare, an integrated healthcare system.

Paulson's high regard for economic development has made his membership on EDCUtah's board of trustees and executive committee a natural fit. Having served for some 15 years there, he will surely be missed. Paulson will retire from SelectHealth this June and his successor to EDCUtah's board and executive committee from SelectHealth has yet to be named.

SelectHealth has had a long relationship with EDCUtah. Its parent organization, Intermountain Healthcare, and predecessor Intermountain Health Plans, Inc., were both investors in EDCUtah from the economic development organization's inception. Just recently, SelectHealth made a significant investment in EDCUtah.

SelectHealth is a Utah-based business with more than 800 employees in the state. The organization was recognized as the first commercial health plan in Utah to receive "Excellent" Accreditation status by the National Committee for Quality Assurance for its commitment to helping members stay healthy, and to providing the highest quality care when they are sick.

"We at EDCUtah are extremely appreciative of the support we have received from Sid and his team at SelectHealth," says Jeff Edwards, president & CEO of EDCUtah. "Additionally, EDCUtah's board of directors and executive committee will miss his wisdom and expertise."


In the News

Utah’s business climate solid
Two new reports paint a mixed picture of Utah's tax and economic policies. Despite leading the nation on the ALEC-Laffer State Economic Outlook ranking, Utahns' overall tax burden remains one of the highest in the nation, as measured by a new report from the Tax Foundation of Washington, DC. Utahns' tax burden is still 13th highest in the country. (Mainstreet Business Journal)

Alliant expanding
Alliant Techsystems' Clearfield facility is expected to add 120 high-paying technical jobs as it adds composite fiber placement machines to meet the needs of the Air Force's F-35 program. (Deseret News)

Utah looks for niche in green economy
Forget blue-collar and white-collar jobs. Green is the new hue. Though loosely defined and not without skeptics who question their staying power, "green-collar" jobs are growing. (Salt Lake Tribune)

Electric cars race to the future in Milford
The race to develop renewable energy took to the track on Monday. Schools from around Utah competed against one another in electric cars at Milford High School. The race was part of the school's renewable-energy fair with booths promoting alternative energy sources. Gov. Jon Huntsman Jr. was there, saying Beaver County was on the forefront of the nation's renewable-energy development. (Salt Lake Tribune)

Utah Governor Huntsman welcomes back Monster Energy Supercross To Rice-Eccles Stadium
Feld Motor Sports announced today that Utah Governor Jon Huntsman will speak at a press conference Thursday, April 23 at 11:00 a.m. to welcome back Monster Energy Supercross, an FIM World Championship, to Salt Lake City's Rice-Eccles Stadium for the first time since 2004. (Dirt Rider Magazine) (Transworld Motocross)

Ares I Five Segment Development Motor On The Move
On April 16, NASA moved the first segment of the Ares I rocket's five segment development motor, or DM-1, from ATK Space System's production facility in Promontory, Utah, to the nearby test stand, in preparation for the first ground test, targeted for August. (Space Travel)

Tourism in Utah increases
Utah is attracting more visitors despite the slow economy of the past year. The Utah Office of Tourism said Monday that the state attracted 20.4 million people in 2008, an increase of more than 16 percent since 2004. (Deseret News) (KCPW) (Spectrum) (KCPW)

Utah firm's goal for SUV: 140 mpg
A Utah County-based company known for its development and design of geothermal-energy projects is taking its technology to the street: Raser Technologies Inc., headquartered in Provo, next week plans to unveil a prototype hybrid electric vehicle that could get about 140 miles per gallon. (Deseret News)

USTAR from a green perspective
With Earth Day around the corner, it's a good time to look at the range of USTAR efforts from the perspective of sustainability and green impact. Very exciting developments are happening in the energy field and related arenas. (UtahPulse)

UVU thriving despite diminished budget
Reflecting the abysmal weather outside Wednesday, the current financial climate in which Utah Valley University finds itself is less than optimal. But by pulling together, the university will weather the storm, UVU interim president Elizabeth Hitch told faculty and staff at a lunch meeting.
(Daily Herald)

Rocky Mountain Power is building new transmission line
With most of the controversy over the route now behind it, Rocky Mountain Power has launched construction of its new high-voltage transmission line that will run from Downey in southeastern Idaho to an existing substation west of Salt Lake City International Airport. (Salt Lake Tribune)

Ohio dry-cleaning franchise plans to expand in Utah
An East Coast-based dry-cleaning chain is making its debut in Utah with the addition of at least 15 stores over the next three years. Five of those will be located in Utah County. (Daily Herald)

Chamber hosting business summit
The Davis Chamber of Commerce Board of Directors and professional staff members emerged from their annual planning meeting last fall with an ambitious goal: the Chamber would be the most essential resource to build business in Davis County, regardless of the state of the economy.
(Davis Clipper)

State, county poised for new growth
"We’re doing economic development like we’ve never done it before." County Commissioner Louenda Downs made that comment, recently, probably as appropriate as ever in today’s recession. (Davis Clipper)

Outside: Ogden-based Amer Sports one of Top 30 places to work
Ogden-based Amer Sports has been selected one of the Top 30 places to work by Outside Magazine, the company announced Tuesday. (Standard-Examiner)

Davis County's calling Hollywood
"All roads lead to Davis County." That oft-repeated saying from former County Commissioner Dannie McConkie now applies to another aspect of life: Hollywood and the movies for which it is famous the world over. (Davis County Clipper)


Calendar

April 25
Monster Energy AMA Supercross, an FIM World Championship, comes to Salt Lake's Rice-Eccles Stadium, 7 p.m. Sponsored by the Utah Sports Commission. (Tickets)

April 26-28
CoreNet (Dallas, TX)

April 29 - May 1
SME (San Diego, CA)

April 30
New Investor Orientation (EDCUtah)

May 2-6
IAMC (Asheville, NC)

May 4-7
Windpower 2009 (Chicago)

May 27
EDCUtah Board meeting (Sheraton Salt Lake City)

May 17-20
ICSC (Las Vegas)

May 18-21
SAMPE (Baltimore)

May 18-21
BIO (Atlanta)

June 3
EDCUtah Golf for Grants Match Grant Tournament (Eaglewood Golf Course in North Salt Lake). This is the main fundraiser for EDCUtah's Community Match Grants Program. Sponsorship opportunities for 2009 are limited to investors in EDCUtah and are now available. Please call Arthur Franks, membership director for EDCUtah at (801) 323-4242 to secure your sponsorship opportunity!

June 11
Quarterly Investor Update (TBD)

June 16
New Investor Orientation (EDCUtah)

June 17
Executive Committee Meeting (EDCUtah)

July 20
OIA Thought Leader (TBD)

July 21-24
Outdoor Retailer Summer Market (SL Convention Center)

August 10-13
AUVSI (Washington, D.C.)


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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

Health Care Sector Reform an Imperative

No other single issue has a greater impact on Utah businesses than skyrocketing health care costs. One key area of importance for Utahns is health insurance coverage--more than 280,000 Utah citizens were uninsured during at least part of 2007, according to data from the Salt Lake Chamber of Commerce. Of those who were insured, 79 percent received insurance benefits as part of their employment or union membership--approximately 1.8 million Utahns, the Chamber says.

Unfortunately, employer-based health insurance coverage is rapidly declining and will continue to decline because health care costs are growing faster than wages. Utah businesses can little afford the staggering increases in health care premiums, especially during times of economic strain.

"Compared to just nine years ago, Utah employers are paying 100 percent more for the health care benefits they provide to their employees. Health care expenditures in Utah total $9.6 billion each year. This astronomically high number is growing at an unsustainable rate of eight percent annually," the Chamber says.

Reform Measures Passed
What is to be done? Reform measures passed by the Utah Legislature this year will help alleviate health insurance portability issues by expanding access to the health insurance market, increasing market flexibility and providing greater transparency. The most significant piece of the reform legislation will lead to the creation of a health insurance Internet portal through which businesses and individuals can select health insurance plans that are portable and transparent. Consumers, be they businesses or individuals, will be able to sort through the plans in the portal, compare both costs and coverage, select insurance plans and pay with pretax dollars.

Nonetheless, Utah still has work to do in reforming the health care sector and the many stakeholders and the community must continue to be actively engaged in the reform process. The Health System Reform Task Force has been renewed for another year, during which time it will focus on cost and quality issues, building up the state’s primary care physician workforce, promoting and building on the medical home concept, exploring best practices in medicine and investing in electronic medical records.

The CEOs of two leading health insurance companies in Utah, Sid Paulson from SelectHealth, and Earl Hurst, from Humana of Utah, say they applaud the efforts of the Utah Health System Reform Task Force, Governor Huntsman and the Legislature. Paulson and Hurst say that any meaningful health care reform will require a comprehensive approach: expanded coverage, greater consumerism, greater transparency and improvement in quality, efficiency and education. Another important factor they emphasize: lifestyle changes.

"We need to get our lifestyles in order," says Paulson. "Changing the way we live is an important element of health care reform."

Humana Partners with Chambers of Commerce
Humana of Utah recently partnered with the Ogden/Weber Chamber of Commerce to increase access to affordable health insurance, and now offers a wellness-oriented, discounted health plan for chamber members with two to 99 employees. A similar partnership was formed last year between Humana of Utah and the Salt Lake Chamber. Through the partnership, chamber members have access to a wide variety of health-plan options, including Humana’s popular consumer-choice offerings (consisting of high-deductible health plans with health savings accounts) as well as more traditional preferred provider organization (PPO) plans with varying levels of deductibles and co-payments. Participating members also have access to health information and industry-leading online tools offered by Humana to help them better manage their benefits, while small businesses have a comprehensive approach to managing their benefits so they are not a drain on the bottom line.

Both CEOs say insurance coverage should not be equated with access to health care or access to better health. Insurance is, rather, the financing arm of health care.

Regarding transparency, Hurst says "As consumers, we can go online and evaluate the quality and costs of all types of goods and services. We need to be able to do that with health care. Transparency in the health care sector does not exist. Consumers will make more judicious and cost-savvy decisions if they have the necessary information to choose, finance and use their health care."

What’s more, he adds, there is no methodology to judge the comparative effectiveness of new health care technologies. A recent study found that between 15 and 50 percent of health care is of no use to the patient. Consequently, patients consume a significant amount of healthcare they don’t really need. Transparency will help consumers determine whether a given treatment is truly worth the price.

SelectHealth Shares Data with Health Care Sector
Hurst and Paulson say their companies work hard to make health care costs more transparent. Paulson also emphasizes the need for greater sharing of information between care providers and insurance companies.

"At SelectHealth, we collect volumes of data that we give to the physicians in Intermountain’s facilities. The data helps them have some efficacy in their treatments and greater detail about the health history of their patients," Paulson says.

EDCUtah President & CEO says regardless of the challenges, Utah is fortunate to have leading insurance providers and an aggressive political body willing to make the tough choices required to keep Utah a very business friendly state.

"Utah is the envy of most every other state when it comes to affordable, quality insurance options and through all the hard work we are undertaking today, that is sure to continue," he goes on to say.