June 13, 2006

  

A Publication of the Economic Development Corporation of Utah

CEO Jeff Edwards

PRESIDENT'S  

MESSAGE

GOED's Economic Development "Pillars" Outlined


The Governor's Office of Economic Development (GOED), the guiding force behind the state's economic development initiative and partner in EDCUTAH's objectives and efforts, recently announced the appointment of Jason Perry as its new executive director. Today's feature article outlines GOED's four "pillars of economic development," including EDCUTAH's role in business recruitment and growth.

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" button on the bottom of this page.

Enjoy!

Jeff Edwards
Jeff Edwards
President and CEO

FEATURE STORY

GOED's Four Pillars of Economic Development

Last March Governor Jon Huntsman Jr. appointed Jason Perry, former deputy director of the Utah Department of Commerce, to head the Governor's Office of Economic Development (GOED), replacing Richard Bradford, who was retiring from state government after13 years of service.

Jason Perry, executive director of GOEDAs executor of the Governor's economic vision, Perry says GOED "is an amazing office with an extremely talented team. With this much talent around, I guess you could say I hit the ground running."

Economic development work is like being in the match-making business, according to Perry: "It's all about relationships. When you have a business that needs some assistance, it's essential to have someone who knows all of the right players and can make the right connections for you."

Knowing the right players and making the right connections involves what Perry calls "the four pillars of economic development." As he describes them, the four pillars are:

1. Creating Business
Led by Greg Jones, managing director and state science advisor, Perry says this pillar focuses on creating new business in the state, and includes business development efforts like the USTAR initiative and the Centers of Excellence Program.

2. Growing Business
Perry says Managing Director Doug Clark and his team are charged with helping Utah businesses acquire and maintain government contracts through the Utah Procurement Technical Assistance Centers (PTAC); developing business growth through trade missions and the marketing of Utah-based products and services into foreign countries; and increased economic development in rural Utah.

3. Recruiting and Retaining Business
The majority of EDCUTAH's efforts, and its contract with GOED, fall under this "pillar," led by Michael Nelson, managing director, which seeks to recruit new businesses to Utah and retain them here. "This is a very important pillar for us," Perry says. Helping businesses find and recruit talent is also an important part of this pillar, according to Perry: "We're not head hunters, but we can help companies identify and recruit the talent they need to be successful."

4. Travel and Tourism
Leigh von der Esch, managing director, heads up this pillar, which also includes the Utah Film commission. Perry says travel, tourism and film are three vital pieces of GOED's economic development efforts.

"Every one of these pillars is very much related to the others," says Perry. We consider all of these pillars to be essential to our economic development efforts."

Future issues of EDCUTAH's Economic Review will examine each of the economic pillars in detail.

Perry came to GOED from the Utah Department of Commerce, where he served as deputy director. While there he led development of the department's one-stop business registration site, and served as an administrative law judge. Prior to the Department of Commerce, Perry worked for three years as assistant attorney general and special assistant to the U.S. Attorney. In the AG's office Perry prosecuted Internet crimes against children. Perry is also a graduate of the University of Utah Law School.

Boom Times for Utah's Surging Economy


Utah's go-go economy is rocking and rolling almost like never before. Consider these facts from Commerce CRG, forwarded to EDCUTAH by spokesperson Jeri Cartwright:
In addition, within a few years the Wasatch Front could have several major highway and light rail construction projects going all at the same time, worth billions of dollars. Workers and construction materials will be in short supply.
 

CALENDAR

June 16:  GOED Board Meeting--Utah State Capitol Complex, East Office Building, Suite E220
10:00 a.m. - 12:00 p.m.

June 23: Non-Profit Organization Volunteer Fair at the Gateway

July 21:  GOED Board Meeting
 

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IN THE NEWS


Economic Development Headlines

39 County Firms on vSpring List

- Executives from Agilix Labs Inc. of Orem made vSpring Capital's list of Top 100 Venture Entrepreneurs for the second consecutive year... Agilix was one of 39 companies in the technology and biotech industries in Utah County whose executives made vSpring Capital's list of Top 100 Venture Entrepreneurs this year. (Daily Herald)

Economy Still Surging in Utah

- Like its population, Utah's economy continues to be one of the fastest-growing in the nation. In fact, the entire Rocky Mountain region - with the exception of Colorado - has some of the fastest expanding economies, according to a report released Tuesday by the U.S. Bureau of Economic Analysis about gross state products. (Morning News)

2 New Stores Coming Soon to Gateway

- Two new retail stores will join The Gateway shopping center in Salt Lake City this October as a 77,000-square-foot building is completed. Old Navy and Office Depot will be the main tenants of the building, located at the north end of The Gateway on Rio Grande Street... (Morning News) (SL Trib)

Index Indicates Solid Job Growth

- On the second day of the stock market's dramatic pull-back amid inflation and interest rate concerns, a report released Tuesday said Utah's economy remains hot to the touch. The Zions Bank Small Business Index rose to 115.4 in May, up from a revised 114.9 in April. (Morning News)

New Economic Development Director Named

- Bryan Dangerfield, who has served for the past 10 months as Cedar City's grants coordinator, is the new economic development director for Cedar City and Iron County. (Cedar City Review)

Revinetix Gets More Angel Funds

- Salt Lake City, Utah-based Revinetix has received additional angel funding, according to its existing investor Grow Utah Ventures. Grow Utah said that Olympus Angels, Ogden Angel Investors, and Cache Valley Venture Accelerator Club have all added to the firm's seed funding of Revinetix. (Tech Rockies)

St. George Job Growth is No. 1 in the Nation

- Washington County's largest city continues to generate new jobs, beating out hundreds of other cities nationwide with a higher percentage in its job growth rate, according to a May 31 report issued by the U.S. Department of Labor.
(Morning News)

Utah Travel Touted on TV and Web

- Utah tourism officials are working to ensure that screens - both television and computer - highlight the best of the state. The Board of Travel Development on Friday discussed its approaches to both TV and interactive media as a way to get more tourists to visit Utah. (Morning News)

Utah Firms Urged to Hire the Young

- Gov. Huntsman joins Candis Short, 18, and Shambre Murray, 21, during Wednesday's news conference in which the governor unveiled an "extraordinary opportunity" for Utah companies to create jobs for younger workers. (Morning News) (Herald) (SL Tribune) (Utah Business Magazine)

Conestoga Begins Work on New Facility

- Conestoga Wood Specialties started construction last week on its 115,000-square-foot facility at Utah Industrial Depot in Tooele. The company is expected to provide an estimated 180 new jobs over the next three years in a multi-shift operation. This will be Conestoga's first plant in the western United States. (Tooele Transcript)

Cedar Project to Brighten Area's Future

- A 700-acre business park to be constructed about four miles west of downtown Cedar City is a good example of meeting the economic-development needs of the 21st century, a senior Bush administration official said Thursday. (Morning News)

Tourism Industry Looking Up

- Utah's tourism industry showed strong gains in the first quarter of 2006 with hotel occupancy rates reaching 68.6 percent, up 4.2 percent from the same period last year. Occupancy rates are climbing even as the state's lodging industry expands thanks in part to a record number of skiers visiting Utah slopes this past season and a strong economy attracting business travelers, according to tourism officials. (Daily Herald)

USU Building $13M Engineering Lab

- A $13 million lab that will provide room for the burgeoning College of Engineering and potentially bring in grant dollars for research will be built on Utah State University's campus. (Herald Journal)

Utah Technology Council Names Inductees to 2006 'Hall of Fame' Event

- The Utah Technology Council (UTC) is pleased to announce its eighth annual "Hall of Fame" awards dinner. The celebration will honor and induct technology leaders Dr. Jim Kajiya and Dr. Dinesh Patel. The black-tie event will take place at 6 p.m. on Friday, Oct. 27, at the Little America Hotel, 500 S. Main, Salt Lake City. (Business Wire)

Pleasant Grove Seeks ED Consultant

- Pleasant Grove City has posted the following job opening, please spread the word: Pleasant Grove City is requesting Statements of Qualifications (SOQ's) from experienced individuals or firms interested in providing, by contract, Economic Development and Redevelopment consulting and implementation services. A full description of anticipated services required during the initial contract period and SOQ format requirements are available at City Hall, 70 S. 100 E. Pleasant Grove, UT., 84062.

Applications, resumes and SOQ's will be accepted at the above address until 5 p.m., June 23, 2006. All applications/resumes will be evaluated and ranked on the basis of relevant education and experience as stated. Highest ranking applicants may be invited for a personal interview. Contact, Frank, 801-785-5045. Fax: 801-785-8925. EOE
Utah Alliance for Economic Development
P.O. Box 95624
South Jordan, Utah 84095
801.608.1557
utahalliance@msn.com

Quicksilver Opens New Mountain Center in Park City

- Quiksilver Inc. has opened its new Mountain Center in Park City. The facility will house the North American headquarters for Rossignol, as well as various functions of the company's existing snow brands, including Quiksilver, Roxy, DC, Lib Tech and Gnu. (Utah Business Magazine)

Downtown Rising

- Salt Lake Chamber of Commerce President Lane Beattie hit the proverbial nail on the head the other day while launching a drive to create a new planning vision for Utah's capital city. (KSL)

Prosper Inc. Expands into Third Office

- Prosper Inc. has opened an enrollment center in Draper for its educational mentoring programs. Headquartered in Provo, the coaching and mentoring company expects the Draper office to employ 60 people when fully staffed. (Utah Business Magazine)

USU Helps China Cultivate Biotechnology

- Utah State University has forged new exchange agreements with China in order to work collaboratively on new biotechnology. A delegation from USU, including President Stan Albrecht, recently returned from a visit to China, where the new agreements were finalized. (Utah Business Magazine)