| President's Message
Dr. Cynthia Bioteau, EDCUtah Board Member, Receives 2010 Athena Award
Last week the Salt Lake Chamber awarded EDCUtah Board Member Dr. Cynthia Bioteau as the 2010 Athena. She is the 25th recipient of the honor, which was first awarded by the Chamber in 1984. Dr. Bioteau was presented with the Athena Award, presented for excellence in business leadership and community service, during the 34th Annual American Express Women & Business Conference and Wells Fargo Women's Financial Services Athena Award Luncheon.
We congratulate Dr. Bioteau for this well deserved award. As president and CEO of Salt Lake Community College (SLCC) she is, notably, the first woman to hold that position. She has over 35 years of experience as an educator and administrator. She created the Women's Business Institute at SLCC to provide programmatic and financial support to women entrepreneurs.
I personally know of the impact Dr. Bioteau has had on Utah, and in particular, economic development. As an EDCUtah board member, she is a resource we rely on frequently. Furthermore, she understands SLCC's significant role in attracting top companies to Utah.
We also congratulate the other outstanding women that were recognized with the Chamber's Pathfinder Award. They are:
- Amy Rees Anderson, CEO of MediConnect Global
- Amanda Dickson, Co-Host at KSL News Radio 1160 AM
- Nicole Mouskondis, Senior Vice President of Nicholas & Co.
- Diane Q. Mansfield, Vice President of Human Resources for Questar Corp.
- Senator Luz Robles, Utah State Senate & Diverse Market Business Development Manager, Zions Bank
You may read the full story in the Salt Lake Tribune or Utah Pulse.
Also, please mark your calendars for our Annual EDCUtah Holiday Open House, which will be held on December 15. I look forward to celebrating our successes of the past year and the holiday season with you.
Lastly, I wish you all a happy Thanksgiving. We have a lot to be thankful for in economic development, including a great workforce, a positive business environment, and public/private partners like you that contribute to our efforts. Enjoy your weekend.
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!
President and CEO
EDCUtah's Proactive Recruitment Initiative Celebrates One-Year Milestone
In late August, leaders from the Governor's Office of Economic Development (GOED) and EDCUtah visited seven companies in Silicon Valley, inviting them to consider relocating or expanding their operations in Utah. All of the firms wanted more information about Utah and its business-friendly climate, while two of the businesses were specifically interested in moving some part of their businesses to the Beehive State.
That successful trip was one of numerous proactive recruitment efforts undertaken in the year since EDCUtah launched its strategic, proactive recruiting plan. Michael Flynn, EDCUtah's director of proactive recruitment, was in Utah last week to make a report to EDCUtah's Board of Directors regarding the first year of the proactive recruiting effort, and the events that have taken place since the initiative was launched in October 2009.
Shortly after EDCUtah President & CEO Jeff Edwards announced the launch of the proactive recruiting initiative, Flynn opened a satellite office for EDCUtah in Southern California, which is now the base for all proactive recruiting efforts. Since then, Flynn has been involved in two proactive recruitment trips to Northern California with the Governor's Office of Economic Development (GOED), a third trip to visit businesses in the Midwest, and nine proactive tradeshow recruitment trips to events focused on aerospace, advanced composites, renewable energy, medical device manufacturing, personalized medicine and outdoor products.
All of the proactive recruitment efforts, Flynn points out, focus on businesses within GOED's seven identified economic cluster areas, which are industries where Utah has already achieved significant strength and sustainable advantages. Furthermore, the recruitment efforts concentrate on activities where existing marketing investments are already being made.
"In conjunction with the 12 recruitment trips, we have met with hundreds of individual companies from all of the cluster industries," he says. "These efforts have resulted in 84 qualified prospects who we continue to work with today. To date, of these 84 qualified prospects, seven have transitioned to full recruiting projects that are being managed by EDCUtah business development staff."
EDCUtah President & CEO Jeff Edwards says he is quite pleased with the progress of the proactive recruitment effort over the past 12 months and has high expectations for the future.
"We now have processes in place to identify viable targets, engage them with a research-based sales pitch and transition them to project status. I am confident over the next year we will see significant results from this effort, as companies bring jobs and capital investment to Utah," he explains.
For the 2010-2011 fiscal year, EDCUtah's proactive recruitment initiative will include:
- 8-10 proactive tradeshow recruitment trips to events focused on renewable energy, bio manufacturing, medical device manufacturing, aerospace and advanced composites, digital media and IT.
- 3-4 proactive recruitment trips to markets on the East Coast, Midwest and Pacific Northwest. Flynn says these trips will focus on companies within a variety of cluster industries.
"Additionally, we look to launch several other initiatives designed to add more prospects to the proactive recruiting pipeline," Flynn adds. "We will also be playing a much larger role in coordinating efforts with GOED's other proactive recruitment partner, Development Counselors International (DCI)."
DCI, which is an international development consulting firm based in New York City, has assisted GOED with a million-dollar West Coast marketing initiative that was launched last April. The marketing initiative was designed around the results of a survey DCI conducted for GOED with 249 national site selectors.
Edwards says the response to the proactive recruitment effort has been well-received, and numerous businesses are interested in looking at Utah as they make their expansion or relocation plans. "Utah has a compelling story, and the consensus is that our efforts are very timely and have great merit," he adds.
EDCUtah Holiday Open House (Salt Lake City)
Jan. 12, 2011
"What's Up Down South" Washington County Economic Summit (St. George)
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In the News
Athena Award salutes contributions of SLCC's Bioteau
Community colleges, says Cynthia Bioteau, can be critical to a state's economic health. That belief, coupled with programs she has fostered during her five years as president of Salt Lake Community College to help women and others start and grow businesses, has earned her the Salt Lake Chamber's Athena Award.
(Salt Lake Tribune) (Utah Pulse) (Salt Lake Chamber)
Governor Declares Nov. 27 'Small Business Saturday in Utah'
Governor Gary R. Herbert has officially declared Saturday, November 27th as "Small Business Saturday in Utah" in support of a national initiative to encourage consumers to shop and spend at small, locally owned merchants on the Saturday following Thanksgiving.
New office high-rise proposed for Salt Lake City
Salt Lake City's planned Broadway theater is literally getting down to business. Developers of the proposed $88 million to $98 million playhouse unmasked plans Tuesday for a nearby office high-rise at the existing Bennion Jewelers spot on the corner of 100 South and Main Street.
(Salt Lake Tribune) (Deseret News)
2nd phase begins for wind project near Milford
The second phase of a company's largest wind project in the nation officially gets under way Wednesday, with officials celebrating an expansion that adds 68 wind turbine generators.
(Deseret News) (Utah Pulse) (Salt Lake Tribune)
Pilot plant for cleaner fuels planned for Kanab
Jim Guthrie is not an alchemist, but if a pilot plant the entrepreneur plans for this southeastern Utah city is successful, he will be selling technology that can turn coal, wood and other carbon-based material into natural gas and products ranging from fertilizer to ammonia.
(Salt Lake Tribune)
State tourism launches winter ad campaign
While the sun may be shining on dry terra firma, the state tourism office wants people thinking about heavy snowfall on powdery slopes
Utah Film Location company spurs film production Despite Economic Downturn
As the Sundance Film Festival inches closer, Utah will become the focal point of thousands of Film Makers who hope to leave their mark on the entertainment industry despite all the economic uncertainty. One Utah based company views the economic turbulence as an opportunity to expand.
Ogden gives Garn go-ahead for hotel
City Council members, wearing their redevelopment agency hats Tuesday, approved a development agreement with former House Majority Leader Kevin Garn and Western States Lodging.
(Salt Lake Tribune)
Gary Crocker: Product, long term job and value creation, and funding are critical keys to sustainable Utah companies
"It's not about you," Gary L. Crocker told Utah executives. "It's your product, the long-term job and value creation and planning for future funding well in advance that will help Utah's companies achieve sustainable growth." Crocker provided an in-depth discussion on capital cycle planning and management strategy to a sell-out crowd at The Utah Technology Council recent breakfast event at the Little America Hotel.
Public to decide which ski ads will tout Utah
The state Office of Tourism has three 30-second commercials ready to go for a $1.1 million blitz promoting Utah skiing on national cable television stations starting Jan. 2.
(Salt Lake Tribune)
Utah among best in employer-based health coverage
The percentage of Utah residents with employment-based health insurance fell during the past decade but remained among the best rates in the nation, and the number of Utahns with coverage actually increased, according to a Washington-based think tank.
(Salt Lake Tribune)
Market conditions will dictate new tower's construction
The high-rise office tower proposed for the corner of 100 South and Main Street would be one of the largest buildings in downtown Salt Lake City, a skyline-altering structure with as many as 25 floors and as much as 425,000 square feet.
(Salt Lake Tribune)
Ogden gives OK for Hilton hotel downtown
By a 6-1 vote Tuesday night, the Ogden City Council approved a development agreement with a Taylorsville company to construct a $13 million Hilton Garden Inn Hotel downtown.
Provo rezones downtown hoping to direct future development
Provo's Municipal Council changed and expanded downtown business zones Tuesday to create four new zoning districts that will facilitate long-term plans for refurbishing and upgrading the look of the west Center Street area.
USTAR funds eight projects in latest round of technology commercialization grants
In the latest round of Technology Commercialization Grants (TCGs), USTAR recently awarded a total of $258,500 to innovative commercialization projects at four regional higher education institutions across the state of Utah.
(Utah Pulse) (KCPW)
Utah company creates part of tougher, lighter military helicopter
A Utah company celebrated a major milestone Friday, unveiling a critical component for the next generation of Marine helicopters.
(Deseret News) (Utah Pulse)
Attachmate exec to visit Novell's Utah office in wake of $2.2 Billion acquisition
Attachmate Corp. CEO Jeff Hawn said Monday he likely will be visiting the Provo office of Novell next week as part of planned acquisition of the company that got its start in Utah.
(Salt Lake Tribune) (Daily Herald)
3300 S. development taking shape with restaurants, thrift stores
Some new restaurants are opening in the area of 3300 South and 3200 East, and thrifty shoppers can expect some retail stores next.
Major development idea, tied to military talks, unveiled for U.S. 40 land
Blueprints for a major development along U.S. 40 have turned up on an Internet site promoting what has been dubbed The Summit at Park City, a hub that appears to be the long-anticipated commercial district that could help finance a hotel offering military discounts in the area.
Utah ski industry may get season boost from early snowfall
One of Utah's most renown ski resorts, Alta opened Friday while more resorts are expected to open before Thanksgiving. And that's good news according to tourism advocacy group, Ski Utah, who says the early snow will boost consumer confidence through the season.
(Fox 13) (Park Record)
DATC starting energy industry training
Energy jobs training starts at the Davis Applied Technology College in January.
(Davis County Clipper)
Fiber-optic cable offered at East Gate
As potential occupants think about building in East Gate, an industrial/business park adjacent to the east border of Hill Air Force Base, there is one question that usually comes up in the discussions.