edcUTAH
Feb. 24, 2012

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  Economic Review  
Jeff Edwards President's Message
Rocket Lawyer Comes to Ogden

Perhaps you saw my email last week, where we announced that Rocket Lawyer will expand in Ogden, occupying 7,000 square feet of space in the Wells Fargo Building. The company will make an estimated capital expenditure of $250,000 and will initially hire 50 employees.

Rocket Lawyer provides legal plans that provide a simple and affordable way to personalize, share, print and e-sign important legal documents, a convenient legal calendar that outlines next steps, and access to hundreds of free legal help articles on a variety of legal topics.

This project received support from the Governor's Office of Economic Development, Weber County, Ogden City, Weber Applied Technology College, Arledge Partners and The Boyer Company. This is a great win for Ogden and we appreciate the help we received on this project.

EDCUtah continues to work a near-record level of projects and you can expect to receive additional announcements in the future as projects come to fruition. Further, as Utah's economy continues to strengthen, we expect our pipeline to remain robust. This is certainly an exciting time to be involved in economic development and we appreciate your support!

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

Feature Story
Governor's 2012 Energy Development Summit Enjoys Overwhelming Response

The Governor's 2012 Energy Development Summit, held in Salt Lake City on Feb. 15, was such an overwhelming success that plans for the 2013 summit call for a regional event that will utilize a greater portion of the Salt Palace Convention Center in order to accommodate many more attendees, sponsors and exhibitors.

"The 2012 Energy Summit was an amazing event, with more than 1,000 attendees (including representatives from 21 states and 10 from Canada), 80 sponsors and 75 exhibitors," said Samantha Mary Julian, director of the Utah Office of Energy Development. "We knew the summit was necessary, but we were uncertain of the response we would get. As it turned out, the response was fantastic."

It was so fantastic, in fact, that more people wanted to attend and more businesses wanted to sponsor or exhibit than the first-of-its-kind Utah summit could accommodate. Hence, the plans for expanding next year's summit into a larger space in the Salt Palace. To make the 2013 summit a regional event, Julian said her office plans to invite the other energy offices from Utah's energy-producing neighbors to participate.

Energy Advisor Amanda Smith couldn't be more pleased with the event. "This was a great opportunity for people in academia, industry and government to learn from one another and cross pollinate on ideas for technology and transfer of technology to market, funding opportunities and creative solutions to address doing business on our public lands," she said.

Governor Herbert and Dr. Arun Majumdar
Between 800-900 attendees packed into the main hall for summit addresses by Gov. Herbert and U.S. Department of Energy Acting Under Secretary Dr. Arun Majumdar.

Gov. Herbert began his remarks by noting that the National Security Agency chose to locate its billion-dollar data center in Utah largely because of the state's abundant supply of low-cost electricity. "Utah's stable and affordable energy gives us a major competitive advantage over other states, and is one of the major reasons companies are choosing to relocate and expand in our state," he said.

Gov. Herbert noted the creation of a partnership between the state's private sector and major universities to create an "energy research triangle" that is launching Utah into a new era of energy technology innovation. "I have often said that Utah's greatest natural resource is its people. I firmly believe that no state has a spirit of innovation or a culture of industry to match Utah. Hence, Utah will be the incubator of technologies that will allow us to extract, conserve, and produce energy in a more efficient, safe, and environmentally-friendly way than we ever have before," he told summit attendees.

Securing Utah's energy future means that not only will the state continue to be in position to export energy, but it will also be poised to export homegrown energy technology, Gov. Herbert further explained.

Energy Independence
In the last fiscal year, direct revenues to the State of Utah from the energy sector totaled more than $267,500,000, according to Gov. Herbert. That money was used to fund critical needs like education, transportation and human services. "The energy sector is a vital part of our state's economy, and a vital part of the lives of Utahns in so many ways," he said, noting that the energy sector directly employs approximately 16,400 Utahns. Those jobs pay, on average, 191 percent of the state average wage, while 2.5 percent of Utah's total wages are from energy jobs. Further, there are over 800 energy firms currently doing business in Utah.

Julian says Dr. Arun Majumdar's visit to Utah recognizes the state's important role in energy development and his breadth of experience and vision for the future set an exciting tone for the summit. U.S. Senator Mike Lee also spoke to summit attendees via a live video feed from Washington. Lee spoke about conventional energy and land issues that are affecting Utah and the nation. Land issues continue to be a hindrance to Governor Herbert's goal of energy independence for Utah, since much of the state's natural resources must be extracted from federally managed public lands.

Alternative Energy
In addition to the addresses by Gov. Herbert, Dr. Majumdar and Sen. Lee, summit attendees were treated to 20 breakout sessions lead by experts from industry, academia and government. Approximately 550 attendees packed into the various breakout sessions, which covered topics ranging from conventional, unconventional, renewable and energy efficiency development opportunities. While all of the breakout sessions were well attended, Julian said summit attendees expressed a great deal of interest in alternative energy resources -- such as biofuels, oil shale and oil sands, renewable energy and industrial energy efficiency.

"The level of participation and interest gave my office insight into areas where we can provide additional information and follow-up," she explained. "Moreover, the summit proved to be an effective tool for promoting energy development consistent with Governor Herbert's plan for Utah to be an energy producing state, to be energy self-sufficient, to advocate responsible energy resource development, to promote policies and practices for improved air quality, and to aggressively pursue technology innovations in energy efficiency and development. Based upon our experience from this first summit, we expect next year's regional summit to be even better."

Calendar

Mar. 5-9
Game Developer's Conference (San Francisco, CA)

Mar. 21
EDCUtah Quarterly Investor Update (Regence Blue Cross Blue Shield, Salt Lake City)

Mar. 23
EDCUtah Board of Trustees Meeting (TBD)

Mar. 27-29
JEC Composites Show & Conference (Paris, France)

Mar. 28-29
2nd Annual Principle-Centered Leadership Conference (Eccles Conference Center, USU)

April 10
The Governor's Utah Economic Summit (Grand America Hotel)

Apr. 11-13
Utah League of Cities and Towns Mid-Year Conference (St. George)

April 21-25
Industrial Asset Management Council (Austin, TX)

May 20-23
ICSC RECon Tradeshow (Las Vegas, NV)

May 21-24
SAMPE Tradeshow (Baltimore, MD)

Oct. 16-19
Technology Venture Development Executive Education Seminar (University of Utah)

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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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Salt Lake downtown retail rising
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Olympics gave Utah a five-ring economic boost
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Beehive State's exports to China grew by 184 percent in 2011
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Reclamation success: Salt Lake City warehouse gets a new life
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The hidden tax increase you never see coming
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Economist says Utah housing market is beginning to look up
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Proposed Syracuse industrial park the focus of upcoming panel discussion
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Herbert says tax cut will be boon for small businesses
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Sephora, other stores, are hiring for City Creek Center
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Clearfield readies ATK incentive
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Developer threatens to shut down Geneva project
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Utah's Trolley Square surviving in face of challenges
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Salomon to open first U.S. store in Utah's City Creek Center
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CERV conference draws international crowds
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Futura Industries plans $23 million expansion to its Utah aluminum processing facility
"Futura Industries in Clearfield, Utah will invest an estimated $23 million to expand its plant that turns heated raw aluminum into parts used in various industries ranging from automotive parts to flooring, home improvement to fitness equipment manufacturing," a spokesman for the Utah Governor's Office of Economic Development said.
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