Feb. 8, 2007

  

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

PRESIDENT'S  

MESSAGE

EDCUTAH Will Spearhead Utah's Participation in
Bio 2007 Trade Show

Biotechnology companies are at or near the top of the list for many state’s recruitment efforts, including ours. This year, EDCUTAH will spearhead our state’s effort at the annual BIO 2007 trade show in Boston--a gathering of executives, scientists, policymakers, journalists and decision-makers--representing Utah’s vibrant and burgeoning biotechnology industry and presenting nine of our state’s most successful life science organizations. Today’s feature article discusses opportunities to participate in BIO 2007, our efforts there and the impact of the Utah Pavilion.

In addition, this issue of the Economic Review includes links to many of the ED-related news stories from the past week. 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

FEATURE

Join EDCUTAH’s BIO 2007 Pavilion
as an Exhibitor or Sponsor


The BIO 2007 tradeshow is rapidly approaching and EDCUTAH is gearing up for another successful pavilion. The BIO tradeshow is the world’s largest gathering of executives, researchers, scientists, heads of state, congressional leaders, venture capitalists, investors, academia and key decision makers for companies and organizations representing every aspect of the biotechnology industry.

“It’s where the deals are done,” says Kim Lofgreen, EDCUTAH’s vice president of marketing and communications, “so it’s a prime opportunity to present Utah's vibrant and burgeoning biotechnology industry to this enormous gathering.” Over 19,000 people attended BIO 2006 in Chicago. Booth exhibitors represented nearly all 50 states and 62 foreign countries.

Exhibitor Opportunities Available--Join the Utah Pavilion.

Exhibitor opportunities are available to biotechnology organizations and companies, as well as universities and colleges with biotechnology programs. In order to help build this important industry segment, EDCUTAH, the Governor’s Office of Economic Development (GOED) and several other organizations have already committed a substantial amount of money, time and resources to help subsidize this event. “The generosity of these organizations makes it possible for us to offer exhibiting opportunities to Utah Life Sciences companies at a fraction of the price they would normally pay to participate in this show,” Lofgreen says.

Sponsorship Opportunities Available

A variety of Utah Pavilion sponsorship opportunities are also available to any interested organization, but are specifically aimed at organizations that are not biotechnology companies, yet provide services or support to the industry, i.e. law firms, government entities, suppliers, etc. Lofgreen says sponsorships are a great opportunity for an organization to participate with the Utah Pavilion and also provide much needed help in promoting this important segment of Utah’s economy.

Last year EDCUTAH was joined by nine of our state's most successful life science organizations. Exhibitors for the Utah Pavilion include the University of Utah Technology Commercialization Office; Utah State University; Huntsman Cancer Institute; LineaGen; Daw Tech; Clinical Genetics Institute at Intermountain Health Care; Prolexys Pharmaceuticals; Sorenson Genomics; Utah Life Sciences Association; EDCUTAH; and the Governor's Office of Economic Development (GOED). Booth sponsors include Ballard Spahr; EDCUTAH; the State of Utah; IHC; Oracle Corp.; vSpring; University of Utah; Utah State University; and Zions Bank.

For more information about exhibitor or sponsorship opportunities, contact Kim Lofgreen at 801-328-8856, or email klofgreen@edcutah.org.


EDCUTAH’s BIO 2007 objectives include: (1) creating a national presence for Utah's Life Science industry; (2) positioning Utah as a destination for research teams, investors and biotechnology partners; and (3) showcasing the high quality work being done here. “The Utah Pavilion will provide an excellent, low-cost way for Utah organizations to participate in BIO 2007 and seek out business opportunities,” Lofgreen says.

Utah is home to more than 250 biotech companies. Gov. Jon Huntsman Jr., has targeted the life sciences industry as one of seven clusters on which the state will focus its economic development efforts. Through participation in events like BIO 2007, GOED and EDCUTAH hope to draw attention to Utah's successful life sciences industry. For example:

EDCUTAH Moving to New Office

Up One Floor from Its Current Location

EDCUTAH will be moving up one floor in the One Utah Center, at 201 South Main Street. Beginning Tuesday, February 20, EDCUTAH will be located on the 21st floor in suite 2150. The Utah Sports Commission will remain adjacent to us in suite 2125.

Our moving process will take place over several days from February 20th through the 23rd. During this time, our staff can be reached on their cell phones or via email. Administrative staff will be in the office during normal business hours. A list of staff member’s cell phone numbers appears below. EDCUTAH’s office phone numbers will not change.

We will be up and running in our new space, Suite 2150 on Monday, February 26, 2007. And of course, we will have a ribbon cutting to celebrate our new space soon, so stay tuned.

EDCUTAH Staff Members Cell Phone Numbers

Amie Salazar                550-4370
Art Franks                     558-3311
Brad Baird                    440-3103
Colleen Fraser            910-5404
Erin Farr                        824-5945
Jeff Edwards                455-0896
Jessica Turner            458-1978
Kim Lofgreen               455-5691
Linda Townsend         891-7353
Lynn Pett                       455-5691
Mike Flynn                     891-5755
Sherrie Martell             699-6360
Stephanie Frohman   550-4718
Tauni Everett                824-0029
Todd Brightwell            860-1275
Tom Gleason               369-4509
Trina Stanley                349-6328
 

CALENDAR

May 6-9, 2007:

BIO 2007, Boston

June 6-8, 2007:

The New West Summit, in Big Sky, Montana will bring together business leaders, entrepreneurs, politicians, journalists, academicians, and engaged citizens to talk about the future of the Rocky Mountain West.

EDCUTAH PARTNERS


Current Partners
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IN THE NEWS

Economic Development Headlines

Canada's No. 1-Rated Casual Dining Restaurant to Enter Utah

- Boston's The Gourmet Pizza, the number one-rated casual dining restaurant in Canada, has broken ground in Layton for its first Utah franchise and has a franchise agreement for four additional restaurants in the state.
(SL Enterprise) 

Chain of Meal Preparation Stores to Open in Seven to Nine Locations in Utah

- Entrees Made Easy, a Mesa, Ariz.-based chain of "meal facilitation" stores, has entered into a development agreement for seven to nine individually owned and operated franchise locations in Utah. (SL Enterprise)

North Carolina Performance Footwear Chain to Open in Utah

- Fleet Feet Sports, a national network of community-oriented specialty retail stores offering technical and performance footwear, apparel and accessories, will be opening its first Utah store at The Meadows in American Fork. (SL Enterprise)   

The Newspaper and the Gondola

- As for Ogden's proposal: It is to run an urban gondola between the Intermodal Transportation Hub on Wall Avenue and somewhere near Weber State University. The other part includes a private west-facing, four-season, roadless resort on the side of Mount Ogden in a place called Malan's Basin. (Standard Examiner)

Demand High for Downtown Housing

- Over the next 20 years, Utah will witness a 140 percent increase in the number of people ages 65 and older, according to a November report by the Brookings Institute. This "age-wave," according to the report, will have profound effects on America's cities, shaping how and where baby boomers and seniors live. Those changes will be felt strongly in Salt Lake City, where a rush of new residential housing is planned. (Morning News) 

Growth, Low Unemployment Don't Equal Higher Wages

-Employment in Tooele County rose 5.7 percent during the first half of 2006, from 13,959 to 14,754, according to data compiled by the Utah Department of Workforce Services. Average wages, however, dipped 2.2 percent from $2,942 per month in 2005 to $2,876 last year. Statistics for the second half of 2006 are not yet available, but anecdotal evidence suggest the trends of increasing total employment, low unemployment, and sluggish wage growth are continuing. (Tooele Transcript Bulletin)

Capitol Abuzz Over Real Salt Lake

- Lawmakers are juggling options to fund a Real Salt Lake soccer stadium in Utah — and likely, only in Salt Lake County. Real officials said Thursday that they have decided the former Geneva Steel site in Vineyard, Utah County, is no longer a "viable option for our team or the stadium project." (Morning News here, here, and here)
(SL Tribune here, here, here, and here)  (KSL)
(Daily Herald)

Zions Bank Hails Rededicated Site

- Much has changed since Brigham Young organized Zion's Savings Bank & Trust Co. 134 years ago. Downtown Salt Lake City has grown, and waned, and is on the cusp of another major renovation. A lot has changed, too, at Zions Bank, which Thursday celebrated the rededication of the renamed Zions Bank Building at One South Main. (Morning News) (Utah Business Magazine)

State is Urged to Study the Economic Benefits of Immigration

- A Democratic lawmaker wants to get beyond the rhetoric that often surrounds the debate over undocumented immigrants with a state study that would calculate not only their costs but also the economic benefits they bring. (Morning News) (SL Tribune)

Zions Securities Will Develop Site in WVC

- Dream of living a hop, skip or a leisurely bike ride away from work, shopping, restaurants and a few rounds of golf? There are no golf greens in the works for downtown Salt Lake, but one of Utah's largest property managers is planning to locate stores and over 700 homes next to Lake Park Corporate Center and the 27-hole Stonebridge Golf Course in West Valley City.  (SL Tribune)   

Flurry of Activity on Clearfield Project Due

- February should see a flurry of behind-the-scenes activity prior to start of construction on a mega-project here. The $100-million Mid-Town project previously announced to be built on State Road 193 and 2000 East is due to be the topic of discussion, and action, by the planning commission and city council this month. (Clipper Today)

Lehi May Get 450-Foot Hotel

- Imagine driving south on I-15, gazing down at Utah Valley's flat farmlands and urban sprawl, then turning a corner and bam — there's Utah's tallest building. The proposed 450-foot high, five-star hotel is intended to be the icon for the 85-acre development that will include lakes, a sports arena, retail shops and mixed-use residential areas. (Morning News) (SL Tribune) (Daily Herald)

 Utah Shines at Retailers' '07 Market

- The minute you stepped through the half-circle of doors leading into the Salt Palace, you knew something big was going on ... to the right, there was a long line of registration booths. To the left, courtesy booths directing visitors to good food and comfy beds. And in the center, hordes of people waiting to show their badges and step past security and into an outdoor enthusiast's candy store. (Morning News) 

Restaurant-Tax Bill Still on Back Burner

- A Senate committee sent back to its cooks a bill that would use part of the 1 percent restaurant tax to promote dining out at Utah eateries. Meeting Wednesday, members of the Senate Workforce Services and Community and Economic Development Committee heard concerns about SB68. The committee took no vote on the bill. (Morning News)

North Park Details Likely Coming in May

- New shopping and dining opportunities are well on their way in Spanish Fork, but residents will have to wait a few months before they find out who is setting up shop at North Park. (Daily Herald)

A Sigh of Relief Over Delta

-Relief. Cautious relief. That was the reaction of many Utahns Wednesday upon learning that US Airways Group Inc. had dropped its $9.8 billion hostile takeover bid for Delta Air Lines Inc. (Morning News)

3 Firms Bringing 2,000 Jobs to Utah

- Officials from three companies gathered indoors Monday to officially announce that their outdoors-focused businesses will add nearly 2,000 jobs in Utah. At a news conference at the Outdoor Retailer Winter Market at the Salt Palace, Backcountry.com unveiled plans to expand its Utah operations, and Peregrine Outfitters and Smith Sport Optics said they would establish operations in the state and further bolster the outdoor products and recreation cluster. (Morning News)  (SL Tribune) (Daily Herald)
(Standard Examiner)

SURE Sites Puts Utah on the Map

- Utah economic developers have a SURE thing for companies looking at putting operations in the state. The SURE Sites program, an online database with maps and data about available property for possible industrial and office use, has been launched by the Economic Development Corp. of Utah and several partners. SURE stands for "Select Utah Real Estate." (Morning News) 

Utah Hoping to Lure Engineers to State

- State economic development officials are trying to get a pair of groups — engineers and site selectors — to look at opportunities in Utah. (Morning News) 

Davis Boosts Budget for Visitors Bureau

- The Davis Area Convention and Visitors Bureau received a budget boost last week from the county's tourism fund.  (Morning News)

New Research Stars for USTAR

- Under an initiative to attract world-class scientists and boost Utah's economy, the University of Utah has hired experts on high-speed wireless communication, computer analysis of medical images and underground storage of carbon dioxide gas to combat global warming and extract oil. (Utah Business Magazine)

Business Incentive Bill for Rural Areas Ready for Huntsman’s Signature

- A bill that would provide incentives for businesses to create high-paying jobs in rural areas of Utah has passed both the House and Senate, and now awaits the signature of Gov. Jon Huntsman, Jr. (Utah Business Magazine)

Boeing Looks to Expand Presence in Utah

- The Boeing Company is vying for a U.S. Air Force contract that could bring $136 million to Utah if the company is awarded the bid. “We are dedicated to building our presence in the state,” said Madonna Walsh, a company spokesperson. (Utah Business Magazine)

Proposed SBA ’08 Budget Ups Small Business Financing to $28 Billion, Reduces Loan Fees

- President George W. Bush Monday announced a proposed FY 2008 budget for the U.S. Small Business Administration that increases financing capacity by 40 percent over business lending in FY 2006, reduces fees on loans, and provides increased funding and staff for SBA’s ongoing operational reforms. (Utah Business Magazine)