Oct. 21, 2008

   A Publication of the Economic Development Corporation of Utah
CEO Jeff Edwards

President's Message

Teamwork Lands the Duncan Aviation Deal


Last week I mentioned EDCUtah's enthusiasm regarding the recent announcement of Duncan Aviation's plans to build a new 320,000 square foot aircraft maintenance facility at the Provo Municipal Airport. This project represents a significant capital investment and 657 new full-time jobs for Utah County. It also represents "the best example of teamwork in Utah economic development," as noted by Russ Fotheringham, Utah County Public Development Manager for EDCUtah.

Duncan Aviation was established in 1956 as a Beechcraft distributor and has grown into the largest family-owned aircraft support facility in North America, with more than 20 facilities across the country, including its headquarters in Lincoln, NE. The company provides support, installation, repair, modification and parts services for business and government aircraft operators worldwide. With almost 2,000 employees, Duncan Aviation services a broad range of aircraft with a full staff of avionics, accessory, engine and airframe technical specialists.

Bringing Duncan Aviation to Provo City in Utah County was an orchestrated effort by several key entities. The Governor's Office of Economic Development provided an important incentive and support in this project. Utah County and Provo City worked together to provide ongoing support and a significant local incentive. The project couldn't have happened without the Provo Municipal Airport's key role in providing information. The Provo School District also provided support for local incentives.

We look forward to Duncan Aviation's presence in Utah County and see this as further evidence of Utah's strength in the aerospace industry. It is a fine compliment to the other success in this sector earlier this year with Ogden's announcement of Jet Aviation coming to the Hinckley Airport.

Today's Economic Review highlights the opening of Real Salt Lake's Rio Tinto Stadium in Sandy, an Investor Update featuring The Layton Companies, and 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 at the bottom of this page. Enjoy!

Jeff Edwards

Jeff Edwards
President and CEO

Feature

A Royal Stadium for a Royal Team and Fans!


After moving mounds of political and financial earth to make it happen, numerous government, civic and business leaders gathered August 12, 2006 to ceremoniously break ground for Real Salt Lake's soccer stadium in Sandy, however, the real dirt (215,000 cubic yards to be exact) didn't begin to move until May of 2007, when crews from a joint venture between Layton Construction and Turner Construction began their work on the 23-acre stadium site.

Eighteen months later and ahead of schedule, the $110-million Rio Tinto Stadium opened Oct. 9 for a nationally-televised inaugural game before a sell-out crowd as Real Salt Lake faced off against the New York Red Bulls. The event received media coverage from around the globe.

Rio Tinto Stadium, home of Real Salt Lake
Rio Tinto Stadium

"This was a great project for us," says Alan Rindlisbacher, director of corporate marketing for The Layton Companies, "and our crews worked hard to meet Real Salt Lake's accelerated schedule request."

Rio Tinto Stadium is said to be the most beautiful stadium in all of major league soccer. Indeed, Forbes named it one of 10 new super stadiums, joining the ranks of the new Yankee Stadium in New York, the Olympique Lyonnais soccer stadium in Lyon, France, and Landsdowne Road Stadium in Dublin, Ireland. MLS president Mark Abbott declared Real Salt Lake's stadium the best in major league soccer.

Truly, it is a dazzling venue with sweeping views of the Wasatch Mountains on the east and the Oquirrh Mountains on the west. The stadium features a state-of-the-art Teflon-coated fiberglass canopy fabricated in Shanghai, China, a 53-foot tall by 76-foot wide scoreboard, 20,008 stadium seats (expandable to 25,000 for concerts), VIP club, 32 luxury seats, four locker rooms, a 30-seat press box, six broadcast booths, a press lounge, camera stations and an 8,500 square-foot, full-service commissary, not to mention team offices and administrative support offices.

The playing field, covered by 105,000 square-feet of sand-based bluegrass sod brought in from Fort Morgan, Colorado, is an architectural wonder of its own. It is designed with a subterranean grid of pipes that can quickly evacuate water from the playing surface and also pump warm air to the surface to defrost the field, or pump oxygen to the root system during times when the turf may be covered for a concert. The stadium's structural innards include 24,200 cubic yards of concrete, 2,675 tons of structural steel and 400 miles of coaxial communications cable.

As for parking, there are 6,700 parking stalls within 15 minutes of the venue. What's more, Rio Tinto Stadium is nicely situated within close proximity to the TRAX light rail line and Interstate 15.

"Layton Construction has done a wonderful job with this project," says Sandy Mayor Tom Dolan, who was on hand for Real Salt Lake's opening game in the new venue. "It was delivered as promised and I am very impressed. I think it is not only an asset for Sandy City but also for Salt Lake County and the State of Utah."

Real Salt Lake's new digs look to become just what many proponents of the public/private investment imagined: a center of commercial activity and a magnet for further economic development in the area. Mayor Dolan says he has already seen plans for further development around the stadium.

"We've seen proposals for new hotels and numerous other amenities," he says, adding that the Apollo Management Group, an investment company out of New York, is working on a plan for commercial development around the stadium.

Yes, it took some political will to make the stadium a reality, but Real Salt Lake fans now have a permanent home in which to cheer for their team, and Utah has one more attraction to add to is list of amenities that make the state such a great place to live, work and play.

The stadium construction team included:

  • Layton-Turner Joint Venture
  • Rossetti Architects
  • Martin & Associates, Structural Engineers
  • Allred Soffe Wilkinson & Nichols, Civil Engineers
  • M-E Engineers, Electrical Engineers
  • Consolidated Engineering Lab, Geotechnical Engineers

Major subcontractors were:

  • Harper Excavating
  • JD Steel
  • Geneva Rock Products
  • IMS Masonry
  • The Star Group
  • Redd Roofing
  • Linford Contract Glazing
  • Perry Olsen Drywall
  • Accent Flooring
  • StructurFlex
  • MSS Mechanical
  • Wasatch Electric
  • Alta Fire Protection

CALENDAR

Oct. 22: Quarterly Investor Update from 4:30 to 6 p.m. at the Swaner EcoCenter. Speaker Mike Nadon, Cementation USA. Investors $20, all others $25. Swaner EcoCenter is providing a gift for all attendees--don't miss out! Click here for directions or here more details. RSVP to Amber Deibert or Amy Salazar at (801) 328-8824 or email adeibert@edcutah.org or asalazar@edcutah.org.
 
Oct. 24: MountainWest Capital Network's Acclaimed Utah 100 Business Awards Luncheon at the Grand America Hotel, from 11:15 a.m. until 1:15 p.m. Utah Governor Jon Huntsman will address attendees. Tables are still available for the luncheon. To reserve yours go to www.mwcn.org, send an e-mail to info@mwcn.org or call (801) 966-1430 for more information.

Dec. 17: Holiday Open House (EDCUtah)

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Board of Trustees

 

Investor Update:
The Layton Companies


On February 13, 1953 Alan W. Layton left the comforts of a secure government job with the Bureau of Reclamation to form Layton Construction Company. That small, family-owned business has since grown to become The Layton Companies, a holding company for Layton Construction Company, Interior Construction Specialists, Inc. and Layton Construction Company of Arizona.

Under the direction of Alan W. Layton, followed by his sons, Alan S. Layton and David S. Layton, the company is now a nationally-ranked firm specializing in construction management for a wide variety of commercial and public clients. Today, Layton is 80th largest commercial contractor in the U.S.. The company employs approximately 700 people and operates brick and mortar offices in Sandy (its headquarters), Phoenix and Boise, soft offices in Hawaii and Las Vegas, and job sites from Hawaii to Illinois. Layton's construction projects can be found throughout the United States and include virtually every industry. The company has broad experience in healthcare projects, sports venues, hospitality and resorts, office buildings, manufacturing facilities, distribution centers, public safety facilities, recreation centers and parking structures.

The portfolio of Layton projects includes:

  • Rio Tinto Stadium
  • University of Utah Hospital Expansion
  • Deseret News Office Building
  • RC Willey Distribution Center
  • Salt Lake County Adult Detention Complex
  • Projects at Deer Valley, Snowbird and Solitude
  • BYU's LaVell Edwards Stadium
  • Rice-Eccles Stadium
  • Primary Children's Medical Center
  • Rural Utah hospitals in Kanab, Beaver and Nephi

Layton has been a devoted EDCUtah investor since 1990 and Alan Rindlisbacher, director of corporate marketing for The Layton Companies, feels a close kinship with EDCUtah.

"I've been associated with EDCUtah since 1987, when I was one of its first employees," Rindlisbacher says. "It is gratifying to see EDCUtah grow in experience and prominence to become one of the premier economic development organizations in the country."

David Layton has served on EDCUtah's board for several years and also recognizes the value of his company's investment in the organization.

"I have been able to see first hand the professionalism and dedication of Jeff Edwards and his entire staff as they have worked to build Utah's economy," he says. "It is enlightening to see the effort that it takes to compete on a national and global scale to recruit businesses to the state and develop a business climate for existing businesses to also flourish and compete in our world economy."

Quietly and methodically The Layton Companies has grown from a one-man operation to a nationally recognized construction leader. The organization continues to change, respond, serve and grow as it enters its second half-century, and EDCUtah is grateful to have Layton on its team.

In The News

Economic Development Headlines from the Past Week

Black Diamond featured in Fortune Small Business Magazine

- Fortune Small Business Magazine's November '08 edition features Black Diamond: "Black Diamond's CEO and staff have traversed the world's toughest terrain..."
(PDF)

Plans for SLC Broadway-class theater includes other arts groups

- Salt Lake City has choreographed how to finance downtown's Broadway-class theater, and how's this for a curtain call? There would money left over for other arts groups. Mayor Ralph Becker hopes to broker a deal to funnel sales taxes from the LDS Church's $1.5 billion City Creek Center to a state arts fund that, in turn, could finance the construction and operation of a 2,400-seat Broadway-style playhouse. (SL Tribune)

Ground broken for new St. George airport

-  Hopes were sky high in Dixie Friday as hundreds of people showed up to an official groundbreaking party for a $175 million airport to be built about seven miles southeast of the city. (Morning News) (SL Tribune)

SLC tech company getting Apple co-founder's advice

-  Steve Wozniak, who helped start the personal computer revolution, is a man with an eclectic résumé: "Woz," as he is more popularly known, is serving up advice on market trends, research, growth and branding in return for an equity stake in the computer-storage device maker. (SL Tribune)

Utah State starts construction on USTAR lab

-  Construction began Friday on a 110,000-square-foot home for Utah State University's USTAR endeavors in nutrition research and other life-science areas. The $60 million yet-to-be-named building, designed to meet high standards of sustainability, will anchor USU's research park, known as Innovation Campus, in North Logan. (SL Tribune)

Ex-Superfund site to sport eco-friendly development

- An industrial site once fouled with arsenic, lead and heavy metals is being turned into environmentally friendly offices, apartments, eateries, walking trails and green spaces. (SL Tribune)

Utahns should be seeing a dip in the price of food and gasoline

- The consumer price index for the Wasatch Front fell 0.4 percent in September, giving some relief to Utahns who have been paying more for food and gasoline than consumers in the rest of the country, Wells Fargo & Co. reported Thursday. (SL Tribune)

U. advances in world of nanoscience

- At a nano conference at the Huntsman Cancer Institute on Thursday evening, University of Utah officials announced the launch of the Nano Institute of Utah, led by cutting-edge scientists recently recruited under the Utah Science, Technology and Research initiative (USTAR). (SL Tribune)

Outside magazine heaps praise on Utah skiing

- The latest national publication to heap praise on Utah skiing is Outside magazine, whose readers picked Alta-Snowbird as the continent's best ski area. Snowbasin placed fifth, Solitude 13th. (SL Tribune)

An entrepreneurial culture -- Utah's secret sauce

- Thanks to the 2002 Winter Olympics, Utah is recognized worldwide for its pristine national parks, snowcapped mountains and rugged vacation spots, as well for as its religiously homogeneous population and conservative family-oriented culture. Even as ominous economic clouds roll across the nation, Utah consistently continues to receive national recognition not only as a key player in the entrepreneurial and high-tech realm but also as one of the few states with a relatively strong economy. (Daily Herald)

Utah's economy is feeling the pinch

- Utah's economic activity, at the top of the nation in 2006 and 2007 in terms of job growth, is at its weakest pace in five years. The state's economy is expected to continue along that path well into 2009, Jeff Thredgold, economic consultant to Zions Bank, said in the bank's Autumn 2008 "Insight" publication, released Wednesday. (Morning News)

Legislative panel OKs film-incentives hike

- The Legislature's Workforce Services and Community and Economic Development Interim Committee on Wednesday unanimously endorsed a draft bill that reworks financial incentives to better Utah's chances of landing big-budget movies and TV series. (Morning News) (Daily Herald)

Delta pulls back on flights, pushes on growth

- Delta Air Lines is pulling back some international flying in the face of the global economic downturn but is sticking to its long-range plan for growth, which probably means another overseas route from Salt Lake City.
(SL Tribune)

Bountiful project gets green light

- Phase 1 of a commercial development on the city's north side has been given the green light. (Standard Examiner)

Utah job growth slight but better than nation's

- Over all, job growth in Utah plateaued at 0.1 percent in September, compared with September 2007, the report said. The state added 1,800 jobs from September 2007 to September 2008, which raised the statewide total number of wage and salary jobs to about 1.27 million. (Morning News)

Tourism board giving Delta $400,000 for Tokyo flights

- The Utah Board of Tourism Development on Monday allocated $400,000 to encourage Delta Air Lines to start direct flights between Salt Lake City International Airport and Tokyo.
(Morning News)

Falcon Hill: Historic 1st for Davis, Air Force

- "This is a one-of-a-kind project in the entire country," said Gov. Jon Huntsman, Jr., Friday. He was referring to the mammoth new Falcon Hill development. Over the next 15 to 20 years, it will encompass 550 acres, stretching from Roy to Clearfield, potentially employing upward of 75,000 people. (Clipper Today)

22-story high-rises in Davis? It could happen

- Currently, several buildings at Legend Hills have four floors. They are the cities' tallest. But 22-story tall buildings? That's a possibility, thanks to the city's Transit Oriented Development being planned between UTA and developer LNC Financial. (Clipper Today)