' EDCUtah Economic Review
     
  edcUTAH
May 16, 2012

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  Economic Review  
Jeff Edwards President's Message
Eagle Gate Tower to Become World Trade Center at City Creek

Exciting developments continue to take shape in Utah. On May 23 the Eagle Gate Tower in downtown Salt Lake City will officially become the World Trade Center at City Creek. A ribbon cutting event will be held in the lobby at 3 p.m., followed by an open house on the third floor. If you are interested in attending you must RSVP by May 21. Here's a link to the RSVP page online. The address is 60 E. South Temple Street.

The Governor's Office of Economic Development (GOED), the Governor's Office of Energy Development and USTAR are also co-locating with Utah's World Trade Center in the tower. Having all four of these organizations in one location will benerfit Utah and Utah businesses because it allows us to leverage the synergies between the organizations to bolster job creation and establish a stronger global presence.

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



Golf for Grants

Feature Story
Utah's 2012 Legislative Session: Another Good Year for Business

Every year, eager eyes watch closely as the Utah Legislature spends 45 days in a frenzy of legislative activity. And, as site selectors and economic developers know, the outcome of such activity can be favorable or prohibitive to business.

But as Spencer Eccles, executive director of the Governor's Office of Economic Development (GOED) notes, "The important things we do are sometimes the things we don't do."

His meaning is simple: sometimes the laws that the State Legislature doesn't pass can be as important as the laws they do pass. He explains Utah Governor Gary R. Herbert's philosophy is this: while government does have an important role in fostering the business climate, it also has a role in getting off the backs of businesses so they can thrive.

Hence, the Governor has made it a priority to ensure the laws and regulations that do get on the books are not a detriment to Utah's business-friendly environment. The 2012 legislative session proved to be another good year in that regard. To be sure, Eccles and his team at GOED were busy shepherding bills through the legislature that support economic development while also working with legislative leaders to protect Utah's fertile soil from laws that inhibit business growth.

Read the rest of this story in EDCUtah's spring Site Selection Quarterly newsletter here.


Utah is Magic

'Utah is Magic' Reception at ICSC RECON in Las Vegas
EDCUtah, the Governor's Office of Economic Development, and CBRE are hosting a reception at the world's largest retail show, ICSC RECON, in Las Vegas later this month.

If your organization is sending representatives to RECON, we invite them to stop by the Renaissance Hotel from 5:30 - 7:30 p.m. on Tuesday, May 22.

Spencer P. Eccles, GOED executive director, will make some opening remarks at this casual-attire event, then attendees will be amazed and entertained by Doc Eason, the two-time Close-up Bar Magician of the Year.

The Renaissance is a two-minute walk from the South Halls of the Las Vegas Convention Center. There will be plenty of refreshments at this poolside get-together. We hope to see you there.

Calendar

May 20-23
ICSC RECon Tradeshow -- Join EDCUtah, GOED and CBRE at a reception Tuesday, May 22 in the Renaissance Hotel from 5:30 - 7:30 p.m. (Las Vegas)

May 21-24
SAMPE Tradeshow (Baltimore, MD)

May 23
Social Commerce Exchange (Salt Lake Community College) 5:30 - 8:30 p.m. Presenters: Cory Edwards, director of social media & corporate reputation -- Dell; Jeff Jordan, senior product manager, social media -- Adobe; Jason Bangerter, founder -- Struck

May 23
Zions Bank Trade & Business Conference (Salt Lake Marriot Downtown) 8:15 a.m. - 1:30 p.m.

June 1
Cyber Defense Challenge
Utah Cyber Defense Challenge & Symposium Inaugural Event (Little America Hotel)

June 6
EDCUtah Golf for Grants Tournament (Eaglewood Golf Course)

Aug. 14-15
Save the Date: 7th Annual Native American Summit (Sheraton Salt Lake City)

Sept. 5
Save the Date! Uintah County Energy Summit (Vernal)

Oct. 16-19
Technology Venture Development Executive Education Seminar (University of Utah)

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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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In the News

Utah OKs incentives aimed at creating more than 1,100 jobs
Utah offered $36 million in incentives Thursday to four companies that are expected to create more than 1,133 jobs over the next 20 years.
(Salt Lake Tribune) (Deseret News) (Utah Pulse)

Utah's economy remains in the lead
In a time when the entire nation is experiencing what is at best a tepid economic recovery at the hands of the federal government, it is gratifying to see Utah taking the lead in setting a solid economic foundation for the country.
(Deseret News)

Utah-led group to design new materials for the Army
U.S. soldiers are increasingly weighed down by batteries to power weapons, detection devices and communications equipment. So the Army Research Laboratory has awarded a University of Utah-led consortium almost $15 million to use computer simulations to help design materials for lighter-weight, energy efficient devices and batteries.
(Standard-Examiner)

Anadarko may win U.S. approval on Utah natural gas project
Anadarko Petroleum Corp.'s $10 billion natural-gas project in Utah's Greater Natural Buttes area is poised to win U.S. Interior Department approval, according to an environmentalist.
(Salt Lake Tribune)

Interior approves Anadarko's plan for Utah gas wells
The Interior Department on Tuesday approved Anadarko Petroleum's plan to drill 3675 new natural gas wells in Utah's Uintah basin after a 4 1 / 2 -year approval process that involved Native American tribes, state agencies and environmental groups.
(Washington Post) (Deseret News)

Salazar lauds Utah drilling deal -- one enviros and industry back
Interior Secretary Ken Salazar on Tuesday signed -- and hailed -- Utah's latest natural-gas drilling plan as an environmentally sensitive leap toward energy security.
(Salt Lake Tribune)

Ceremony marks start of construction for streetcar line in Utah
Under the warm spring sun Wednesday, a crowd gathered at 2235 Main St. in South Salt Lake to celebrate the beginning of the long anticipated return of streetcars to the Salt Lake Valley.
(Salt Lake Tribune) (Deseret News)

Space veterans announce Liberty rocket, target 2015 launch
Utah-based Alliant Techsystems, or ATK, the aerospace company that built the solid rocket boosters for NASA's space shuttle fleet announced plans Tuesday to develop its own private launch system — a spaceship and rocket — to fly astronauts to and from low-Earth orbit. The first manned flight could launch in about three years, company officials said.
(Fox News) (Ars Technica)

Salt Lake City to host third annual Neighborhood Business Conference
The city has teamed up with Local First Utah and Vest Pocket Business Coalition to sponsor the third annual Neighborhood Business Conference.
(Deseret News)

Utah universities awarded $1 Million to train next generation of nuclear energy leaders, advance university-led nuclear innovation
Secretary of Energy Steven Chu today announced that Utah universities have been awarded a total of $1 million in graduate fellowships and research grants to train and educate the next generation of leaders in America's nuclear industry.
(Utah Policy)

Utah continues to expand export relationship with Hong Kong
Utah currently has an exceptionally active trade relationship with Hong Kong, it is in fact our second largest export destination with a current $3.8 Billion in exports, representing a 300% increase over 2010.
(World Trade Center Utah)

Nuclear engineers gather for Utah conference
Scientists and engineers from 37 countries gathered Monday at a Salt Lake City conference to discuss how to extend the life of nuclear power plants worldwide.
(Standard-Examiner)

Eagle Mountain looks to bring 400 jobs to city
Eagle Mountain has its fingers crossed, hoping to woo a promotional products company, bringing 400 jobs to the city.
(Daily Herald)

Utah one of '5 friendliest states for small business'
Small businesses ranked Idaho as the friendliest state to set up shop, according to a survey released Tuesday. Other states in the top 5 were Texas, Oklahoma and Utah -- all of which scored an "A+," according to the poll by Thumbtack.com and the Kauffman Foundation.
(CNN)

ATK unveils proposal it hopes will end NASA's dependence on Russia
ATK has unveiled a new plan to NASA that the aerospace company hopes will be the next program to put America back in space.
(Deseret News)

ATK project could bring jobs for Northern Utah
News that Alliant Techsystems has developed a new space vehicle from the ground up could mean future engineering and aerospace jobs for Northern Utah.
(Herald Journal) (Deseret News) (Salt Lake Tribune)

Weber County hiring economic development director, hoping fresh eye will attract businesses
The Weber County Commission wants to change the way business is done in the county. The Board of County Commissioners announced this week that it is rethinking "the business model upon which the county's economic development efforts operate."
(Standard-Examiner)

Utah's investment in innovation paying off
In recent weeks, Utahns have celebrated the new Adobe campus with its promise of as many as 3,300 high-paying jobs over the next two decades.
(KSL)

New USTAR video highlights multidisciplinary research and commercialization opportunities at U of U
On April 19, the University of Utah (U of U) held the dedication ceremony for the James L. Sorenson Molecular Biotechnology Building
(Utah Pulse)

UVU to host second annual 'Doing Business in China' Conference
Utah Valley University's Woodbury School of Business will bring together international experts and the business community for a one-day conference
(Utah Pulse)

Business expo to offer social media education and training
In conjunction with the Great Salt Lake Business Expo, the Utah Small Business Coalition will host the SocialMedia 2.0 Conference
(Utah Pulse)

Layton bids farewell to economic specialist
The man who has had a hand in building Layton's economic base, with 50 to 100 new businesses and business relocations to his credit, has taken a job with the state.
(Standard Examiner)

SLC's hold on trade shows tied to issues beyond space
Local officials like Salt Lake City's chances of retaining the Outdoor Retailer's winter show but acknowledge the summer version has grown so large it could be up for grabs by competing cities.
(Salt Lake Tribune)

Utah Valley center already booking lots of big business
Even though it doesn't officially open until Saturday, the Utah Valley Convention Center has been a busy place.
(Salt Lake Tribune)

Outdoor Retailer adjusts show dates for Winter Market 2013
Outdoor Retailer has announced plans to adjust show dates for its Winter Market 2013 tradeshow.
(Utah Pulse)

Small business index up in April
The Zions Bank Small Business Index for Utah rose to 113.0 in March, up from a revised 112.6 in April.
(Deseret News)

Data on business licenses sheds light on state of economy
The past five years have been a frustrating and challenging economic period for corporate America. Following the evolution of business during this era has provided interesting lessons on commerce either adapting or falling by the wayside.
(Standard Examiner)

Behemoth Desert Canyons development breaks ground in St. George
In St. George, the new growth area is south.
(Desert News)

Mountain States business index down slightly
For the 30th straight month, the overall index for the Mountain States region, a leading economic indicator for the three-state area of Colorado, Utah and Wyoming, advanced above growth neutral 50.0.
(Deseret News)

Job market for Utah grads improving, but trouble persists
Ellen Stemle hopes to rewrite her love of literature into a rewarding career. Before you say "dream on," consider that the University of Utah graduate wants to be an educator and is qualified to teach English as a second language.
(Salt Lake Tribune)