edcUTAH July 15, 2009
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Economic Review
Jeff Edwards, president & CEO of EDCUtahPresident's Message
Summer Utah Site Selection Quarterly Looks Back
at a Successful 2008-09

As I look back on the 2008-09 fiscal year I am very proud of the success EDCUtah has had, especially in light of the difficult economic circumstances. We have been fortunate to work with some truly visionary companies over the past year, and I am gratified at our ability to help bring some of those businesses to Utah. Our summer issue of Utah Site Selection Quarterly takes a look back at several of those wins and examines the role Utah's great network of public and private economic development partners had in the process. Please read on and learn more about EDCUtah's fiscal year 2008-09.

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

In the News

Snowbasin to Host 2010 Winter Dew Tour Event
The Winter Dew Tour recently finalized their 2010 schedule, and among the stops is the site of the 2002 Olympic downhill and Super G events. For the first time ever, Snowbasin, a Sun Valley Resort near Ogden Utah, will host the second of three stops from Jan. 15-17. (Ski Channel) (Salt Lake Tribune

North Temple Expected to Get Major Facelift to Prepare For New Trax Line
Many people in Salt Lake City are already seeing some change to North Temple as there is now more office use, an improvement to the city's building character and more. (Fox 13)

Funds for new Utah courthouse approved
Senate appropriators approved a $211 million request Thursday to build a new federal courthouse in Salt Lake City. (Deseret News) (Salt Lake Tribune)

Highway opens door to massive development
St. George - The opening of the first phase of the Southern Parkway this week marked not only the beginnings of a major new highway, but also opened the door to a massive development plan for the southeast corner of St. George. (Spectrum)

Work begins on FrontRunner station in Orem
Orem - FrontRunner commuter rail is coming to Utah County as soon as 2013, and in Orem, work has already begun on a train station and intermodal transportation hub just west of Utah Valley University's campus. (Daily Herald)

Employment numbers looking better
The good news comes from the Department of Workforce Services, which tracks employment on a monthly basis for Utah and its 29 counties. (Davis County Clipper)

Toughest times for Utah housing may be nearing end
These are tough times for Utah's home building industry, but better times may lie ahead. (Salt Lake Tribune)

Editorial: Utah's fiscal picture better than most
Although Utah's fiscal picture isn't entirely rosy, it is far better than what is happening in a lot of other states around the country. Give credit where credit is due: to a local economy that is better than most and state leaders who have made tough decisions in order to keep the state's budget in balance. (KSL)

Local cities look to wind power as coal generator is shelved
The demise of a coal-fired power plant has several Utah Valley cities looking to the wind. (Daily Herald)

Utah cities branded best places to live
Four Utah cities were named as some of the best places to live. The Money Magazine poll ranked Farmington as the 14th best small town in America. (

Calendar

July 21-24
OR Summer Market (Salt Palace)

September 9-11
ULCT (Sheraton, SLC)

September 16
EDCUtah Annual Meeting (Grand America Hotel, Salt Lake City) (breakfast meeting)

September 19-23
IAMC (Minneapolis, MN)

October 4-7
IEDC (TBD)

October 15
Quarterly Investor Update (Jewish Community Center, Salt Lake City)

November 18
Board Meeting (Salt Lake Country Club)

December 16
Holiday Open House (EDCUtah)

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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
Looking Back: EDCUtah's Fiscal Year in Review

EDCUtah's 2008/2009 fiscal year, which ended June 30, was a highly successful one for economic development, especially in terms of the quality jobs that will be created and the capital investments that will be made.

For example, the recently announced Reckitt Benckiser project will add 100 jobs with higher than average wages to the economy in Tooele County. Of that project, Economic Development Director Nicole Cline says it was important to both Reckitt Benckiser and the Tooele redevelopment agency that the company should offer a generous benefit package as well as great wages.

"In a time when most areas are talking about the loss of jobs and increasing unemployment numbers, it was welcome news that Reckitt Benckiser, Inc. selected Tooele County for its new distribution facility, which will add quality jobs to the area and give local businesses the opportunity to gain another customer," she says. "Reckitt Benckiser is a company that provides local support to the communities where it locates. Additionally, the location of its distribution facility in the Miller Motorsports Park has sparked additional interest in the area, which will provide more opportunities in the future."

Meanwhile, a renewable energy wind farm project under construction in Milford by First Wind is adding 25 high paying jobs to that area and expanding Utah's cluster of renewable energy companies, while FreeMotion Fitness, the commercial division of ICON Health & Fitness, will add 60 jobs to the Logan economy. In South Jordan, eBay's construction of a $334 million data center will add approximately 50 high paying jobs while Verisys Corporation's newly opened operations center is expected to add 100 high paying jobs to the area.

"The companies that have located in the City of South Jordan this year, through the collaboration of EDCUtah and the Governor's Office of Economic Development, have had a wonderful impact on our community," says Brian Preece, South Jordan's long-term planning & sustainability director, "not only for the jobs created but also for the impact on other industries."

Preece says the eBay Data Center project has created between 700 to 775 construction field and office jobs in the area, which has been an obvious boon to the local economy and construction industry. Beyond adding jobs to the area, the location of eBay and Verisys operations in South Jordan will add to the property and sales tax base of the city and surrounding communities.

All in all, during the 2008/2009 fiscal year EDCUtah helped 24 companies select Utah for new or expanded operations, with 4,068 jobs created, another 1,093 jobs retained, and capital investment totaling more than $1.4 billion. Here's a breakdown of project wins by location:

Location Companies
Locating
There
New Jobs Retained Jobs

Capital Investment

Salt Lake City

8

449 401 $52,925,000
So. Jordan

3

365 250 $349,000,000
Ogden

2

1,062 62 $36,900,000
Tooele 2 350 0 $32,000,000
Taylorsville

1

350 350 $13,745,000
West Valley

1

350 0 $440,000,000
Logan 1 60 0 $150,000
Milford 1 25 0 $400,000,000
Payson 1 50 30 $1,500,000
Weber Co. 1 50 0 $40,000,000
Draper 1 200 0 $40,000,000
Provo 1 657 0 $58,000,000
Lehi 1 100 0 0
Total 24 4.068 1,093 $1,464,220,000

Of the 24 project wins, 11 are directly or indirectly related to manufacturing. Two life sciences manufacturing projects -- Nelson Laboratories, Inc.'s expansion in Taylorsville and WorldHeart Corporation's consolidation of its California operations to its Salt Lake City facility -- will add 415 new jobs and retain 385 jobs in Utah's life sciences cluster, while two other manufacturing projects will add 400 jobs and retain 30 jobs in the state's composites cluster. Here's a breakdown of all the projects by sector:

Sector Companies New Jobs Retained Jobs

Space in Sq. Feet

Information/IT 4 489 95 87,295 sf
Manufacturing

4

405 433 202,000 sf
Distribution 3 130 150 671,106 sf
Life Sciences Manufacturing

2

415 385 58,000 sf
Composites Manufacturing

2

400 30 2,550,000 sf
Aviation/Aerospace 2 1,559 0 390,000 sf
Minerals Manufacturing

1

50 0 0
Manufacturing Distribution

1

70 0 73,000 sf
Metal Manufacturing 1 250 0 25,000 sf
Data Centers 1 50 0 250,000 sf
Renewable Energy 1 25 0 (100 acres)
Finance & Insurance 1 25 0 22,000 sf
Call Centers 1 200 0 50,000 sf
Total 24 4,068 1,093 4,378,401 sf

"Utah has a great story to tell and we congratulate all of the companies that have selected the state as the location for their business relocation or expansion efforts," says Jeff Edwards, president & CEO of the Economic Development Corporation of Utah. "What's more, the entire list of project wins indicates how well our communities, state and local businesses come together to help grow our economy and create opportunities for our residents."

The full story of EDCUtah's fiscal year in review is published in the summer issue of Utah Site Selection Quarterly. Click here to read it now.

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