EDCUtah's next Quarterly Investor Update will be held on June 29 from 4-6 p.m. at the Doty Center at Intermountain Healthcare. We will be recognizing our longtime board member and staff member Lynn Pett, who is retiring. His contribution to economic development in Utah is impressive, to say the least. Come celebrate with us in this complimentary reception as we bid him well in his retirement. Please RSVP to Eileen Burt, EDCUtah's marketing coordinator, (801) 323-4249.

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

In 1999, when Dr. A. Lorris Betz left his faculty position at the University of Michigan Medical School to come to the University of Utah, he was a pioneer in the study of the blood-brain barrier and brain membrane permeability.

But without any colleagues at the U. working in his field, and knowing that he couldn't be both a researcher and an administrator at the U., Betz left his research behind to focus on growing the University Health Sciences Center into the major economic engine that it is today.

Expansions in Health Research and Education
After leading more than a decade of significant expansions in health research and education at the U., Betz will retire in 2011 from his positions as CEO of University of Utah Health Care, and senior vice president for health sciences. The culmination of his career is best highlighted by a look at some of the major milestones accomplished during his watch, and the major impact the University Health Sciences Center continues to have on the Utah economy. Following are a few highlights.

Under Betz's watch the university opened the:

• Utah Diabetes Center in Research Park
• $42.5 million George S. and Dolores Dore Eccles Critical Care Pavilion
• South Jordan Health Center
• 50-bed Huntsman Cancer Hospital
• University Orthopaedic Center in Research Park
• $40 million Spencer F. and Cleone P. Eccles Health Sciences Education Building
• 125,000-square-foot Emma Eccles Jones Medical Research Building
• Liver Transplant Program
• Centerville Health Center
• Center for Alzheimer's Care, Imaging, and Research
• $54 million John A. Moran Eye Center
• Pancreas Transplant Program
• Eccles Critical Care Pavilion Expansion
• Clinical Neurosciences Center
• First integrated electrophysiology (EP) MRI laboratory in North America
• $200 million Patient Care Pavilion
• (Nearing completion--the College of Nursing renovation)

Impacts on Utah's Economy
The University Health Sciences Center impacts Utah's economy in many ways:

• Next year's budget will be in excess of $2.l billion.
• Employees will top nearly 14,000 people, making the University Health Sciences Center one of Utah's top employers.
• Research revenues are up about 30 percent over a year ago--approaching $270 million in funding from research support. (As a general rule of thumb, Betz says every $1million in research grants generates 20 jobs; 12 would be within the university as faculty, staff, etc.; another eight jobs would be created in the community through suppliers and other services.)
• Earlier this year the U. tied MIT for the most companies spun off from university research. Betz anticipates that next year the U. will outpace MIT as the top producer of businesses created through university research. "Our standing speaks to the entrepreneurial nature of our faculty," he adds, "and also to the success of Jack Brittain and the University of Utah Technology Commercialization Office."
• The U. is a major contributor to workforce training in the state: Two-thirds of the medical doctors that practice in Utah received their training at the University of Utah Medical School, and Betz estimates that many of the nurses and other medical-related workers in the state also received their educations at the U.
• The University Healthcare system not only provides care for Utahns, but also serves residents of five surrounding states in a referral area encompassing more than 10 percent of the continental United States.

Utah's Quality Healthcare System
"We really bring a lot of jobs into the area, which is just so different from what most people think about an educational institution," Betz says. "We also contribute to the quality of Utah's healthcare system, which is important in attracting companies to the state. One of the first things businesses ask about and look at is the level of healthcare they can offer their employees."

At the helm of the University Health Sciences Center, Betz oversees four academic units: the School of Medicine, College of Nursing, College of Pharmacy, and College of Health. The Center's clinical enterprise includes the University of Utah Hospitals and Clinics, and the University of Utah Medical Group. Together those two entities comprise the university's health system, which is branded as "University of Utah Health Care" and includes:

• University Hospital
• Huntsman Cancer Hospital
• Moran Eye Center
• University Neuropsychiatric Institute
• University Orthopaedic Center
• Community Clinic Network (with ten clinics up and down the I-15 corridor, in Park City and Tooele)
• ARUP (a national reference laboratory that does pathology testing for hospitals across the country)

In a statement following Betz's announced retirement, U. President Michael Young said the university has been on a remarkable trajectory over the past several years, and that "Thanks in some large measure to Lorris' great leadership, health sciences has been a significant part of that momentum."

EDCUtah Board
EDCUtah President & CEO Jeff Edwards says Betz's contributions to economic development in the state have been remarkable, not only for his vision at the helm of the University Health Sciences Center, but also for his service on the EDCUtah board of directors.

"We deeply appreciate Lorris' service to our organization, and on a greater scale, to the State of Utah. As he retires, his presence on our board will be sorely missed," Edwards adds.

Betz explains the timing of his announced retirement by saying it is something he has been thinking about for a long time, but now seems to be most opportune for a transition in leadership. "I have been doing this for 11 years. That is a pretty long time," he adds. "I think we are on a very good course. The University Health Sciences Center is quite stable. We have good momentum, and I would like to slow down and spend more time with my family."

Betz owns some property along the Weber River and plans to do a little fly fishing there. He and his wife also plan to spend time with their two children and four grandchildren, who live in Michigan.

"There are lots of rivers and lakes in Michigan, so maybe I'll do some fishing there, as well," he notes.

Dr. Betz earned his bachelor's and medical degrees as well as a Ph.D. in biochemistry and physiology from the University of Wisconsin. He completed his pediatric residency and a research fellowship in pediatric neurology at the University of California San Francisco, and joined the University of Michigan medical school faculty in 1979.