March 17, 2009

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

President's Message

Utah in the National News


This past week Utah received some great national publicity. First, Utah was ranked #1 in a "Best States to Live In" report released by Gallup/ Healthways and published by Forbes.com. Second, Governor Jon Huntsman was featured in a New York Times story, which mentions his leadership in the effort to make Utah's liquor laws more rational.

Utahns enjoy their jobs and express deep optimism about future prospects, so it is no surprise to us that when site selectors and businesses visit the state, they see happy, healthy residents. As Forbes says, "Residents find a high level of satisfaction in several areas, including work environment, emotional health and their local communities." Forbes notes that one major factor for Utah's strong performance might be its unemployment rate: When last reported in January, it was 4.6 percent compared with a national rate of 7.6 percent. Indeed. Our unemployment rate is still one of the lowest in the nation, despite the national economy, which says a lot about the strength of Utah businesses and our economy. No doubt Utah's mega outdoor sports opportunities also factor into the equation. In essence, the Gallup/Healthways report would make a great advertisement: For a family-friendly, happy, healthy lifestyle, come to Utah!

The New York Times story about Governor Huntsman has its political overtones; nevertheless, it recognizes the Utah Legislature's important vote to overhaul our old, quirky liquor laws, thus providing some great publicity for the state.

Economic Developer Directory

In a separate but exciting development, EDCUtah is proud to announce the publication of its new Economic Developer Directory -- THE resource for economic developer information across the State of Utah. If you are an economic developer and your organization is not in this directory, please call Amber Deibert at (801) 323-4251 or e-mail adeibert@edcutah.org. If you are looking for the right economic development contact within a specific location to help with a project, click this link to see a directory of economic developers throughout the state, or call Todd Brightwell, VP, Business Development Manager, (801) 328-8824.

If your business is considering an expansion or relocation to Utah and you would like EDCUtah to help you get connected with all the right people, please call us. From introductions with key contacts to providing economic data, to assisting throughout your site selection process, we are here to help.

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

EDCUtah Prepares Utah Pavilions for 2009 BIO

and SAMPE Conventions


Did you know that Utah is considered one of the premier locations for businesses involved in the advanced composites industry? Or that Utah is home to a growing cluster of biotechnology-related businesses?

Indeed, Utah is a leader in advanced composites -- those carbon fiber-based materials with high tensile strength, low weight and low thermal expansion, that are dramatically changing industries such as aerospace, civil engineering, military, motor sports, skiing, bicycling and even shoes and musical instruments. The state is also very active in the biotech and drug delivery sectors, offering a world-class effort in arterial and vascular access devices. Utah produces 70 percent of all such devices used worldwide.

2009 SAMPE and BIO

Consequently, teams from EDCUtah, along with a variety of Utah organizations and the Governor's Office of Economic Development (GOED) will be represented in Baltimore, MD and Atlanta, GA respectively, from May 18-21 for two international events with significant import for the state -- SAMPE '09 and the 2009 BIO International Convention.

SAMPE '09 is the crème de la crème of conventions for scientists, engineers, designers and academicians interested in the use and advancement of advanced composite materials, while the BIO convention is an event that draws some 20,000 senior level life science professionals together to explore partnerships and discuss financial and strategic practices to strengthen and expand their life sciences and biotechnology businesses.

Kim Lofgreen, vice president of marketing and communications for EDCUtah, says the Utah pavilions at SAMPE and BIO are important to the state for a number of reasons. First, the pavilions provide opportunities for participating Utah companies to promote their products, network with their peers, share best practices and find partners and financial resources, such as venture capital money. Second, the pavilions provide EDCUtah and GOED two exceptional opportunities to showcase Utah's growing advanced composites and biotechnology industry clusters.

"There is no substitute for face time," Lofgreen says, "and the opportunities for one-on-one interaction with business leaders and industry experts at these two conventions are significant for the participating Utah companies and equally important to EDCUtah's recruitment efforts."

Advanced Composites

Utah is actually home to the largest manufacturer of high performance carbon fiber in the U.S. and has one of the highest concentrations of advanced composites companies in the world. The Hexcel Corporation, which owns 105 acres in West Valley City, is the largest domestic manufacturer of carbon fibers and hot melt fabrics and unidirectional pre-impregnated materials, called prepregs, for aerospace, satellite and recreational applications. Hexcel's Utah plant also produces resins, epoxy resins, adhesive films and solvated fabrics used for core materials.

The Beehive State has been at the center of graphite composites development since the 1950s and offers a complete infrastructure supporting the advanced composites industry, including raw materials, engineering capability, manufacturing capability, sales experts, machine design, manufacturing support and general support.

"Any company that uses carbon fiber should be interested in Utah," says Lofgreen.

Utah businesses and higher educational institutions have always been highly innovative in their use and advancement of composites. In fact, tremendous breakthroughs in the advanced composites industry have and continue to occur here. For example, in 2007, Delta 7 Sports, headquartered in Payson, achieved a breakthrough in the design of bicycle frames using advanced composites IsoTruss technology developed by a professor at Brigham Young University. Delta 7 Sports and its parent company, Advanced Composite Solutions, will be exhibiting in the Utah Pavilion at SAMPE along with EDCUtah and the following other Utah institutions that are either sponsoring or exhibiting in the Utah pavilion:

  • ATK
  • Ogden/Weber Applied Technology Center
  • Davis Applied Technology Center
  • Composite Solutions
  • Hill Air Force Base
  • HyperComp
  • Contour Composites
  • Advanced Composites, Inc.
  • Hexcel

Lofgreen notes that Utah's advanced composites industry is important to the state's aerospace industry sector, but significant cross-over also exist with many other industry segments.

Biotechnology

While Utah's competitive advantage in biotechnology isn't quite as strong as its advanced composites sector, the state still ranks first among the western states for life science businesses per capita and second for overall industry growth. Utah's biotechnology sector is unique in a variety of ways. The Utah Population Database has led to the discovery of the genes that cause breast, prostate and colon cancer, melanoma, cystic fibrosis, Huntington disease and many other diseases and illnesses.

USTAR (the Utah Science, Technology and Research Initiative) is successfully recruiting top national research teams and has established state-of-the-art research innovation centers throughout the state to further advancements in biotechnology. Utah also has three leading research universities involved in biotechnology and the only medical school in the Intermountain West. R&D efforts here bring in more than $400 million annually in research grants. What's more, Utah is known for developing the world's first functional prosthetic arm, the most successful artificial heart transplant to date and the first successful heart pump implant.

Utah companies and institutions joining EDCUtah in the Utah pavilion at BIO or helping to sponsor the pavilion include:

  • Ballard Spahr
  • Brigham Young University
  • Cephalon
  • Clinical Genetics Institute
  • Daw Tech
  • GOED
  • Juneau Biosciences
  • Q-Therapuetics
  • Salt Lake Community College
  • Tandem Labs
  • Taueret Laboratories
  • UNIConnect
  • USTAR

Lofgreen says the BIO and SAMPE conventions provide Utah companies with excellent branding opportunities and the ability to create top-of-mind awareness among dynamic, international audiences. More room is currently available in Utah's BIO and SAMPE pavilions. Utah businesses interested in exhibiting in either pavilion should contact Lofgreen for more information: (801) 328-8856.

 

In The News

Economic Development Headlines from the Past Week

Happiest place? Survey says ... Utah!

- Move over, Disneyland. Your claim as "the happiest place on earth" is being challenged by a new Gallup "happiness" poll that ranks Utah as No. 1 for well-being among the 50 states. (Morning News) (SL Tribune)

Governor Challenges Utah's Conservative Verities

- Governor Jon Huntsman is profiled in a New York Times story.

Jobs adding up, thanks to incentives

- Thursday's lone corporate financial incentive awarded by the Governor's Office of Economic Development Board could mean 50 new full-time jobs in Weber County. But that amount is relatively small when compared with projects approved earlier in the fiscal year and perhaps what is to come during the next few months.
(Deseret News)

Hill lands repair contract; it may bring jobs to Utah

- The Air Force has selected the Ogden Air Logistics Center at Hill Air Force Base to conduct maintenance and repairs on advanced unmanned bombers known as the Predator and Reaper, an assignment that could net Utah a few hundred jobs as the military increasingly shifts to this new technology. (Salt Lake Tribune)

Utah lawmakers approve sweeping liquor law changes

- Landmark liquor legislation that does away with private clubs and the so-called Zion Curtain is headed to the desk of Gov. Jon Huntsman Jr., who is expected to sign it into law. (Salt Lake Tribune)

Utah to get $73m for weatherization and energy upgrades

- Weatherization and energy efficiency in Utah will get a big bump under President Barack Obama's stimulus package. (Salt Lake Tribune)

Raser ready to flip the switch on Beaver geothermal plant

- Within the next week, Raser Technologies Inc. expects to begin transmitting around 7 megawatts of electricity generated at its new geothermal plant outside of Beaver to the city of Anaheim in Southern California. (Salt Lake Tribune)

New homebuyers could get grant of $6,000

- Those buying a new home in Utah could get a grant of as much as $6,000 under a bill passed Thursday in the waning hours of the legislative session. (Salt Lake Tribune)

Guv's econ summit revamps its theme

- Bowing to the realities of the economic downturn but holding fast to the Utah economy's relative strength, the Governor's Third Annual Economic Summit has changed themes just weeks before the event. (Salt Lake Tribune)

Health reforms become law

- Gov. Jon Huntsman Jr., turned health care reforms into reality Wednesday by signing a package of bills during a Capitol ceremony. (Clipper) (KCPW) (Salt Lake Tribune) (Deseret News)

Bountiful seeks 'streetcar named desire'

- "A Streetcar Named Desire" is what Bountiful's mayor is now singing.... In conjunction with UTA, an open house was held at city hall, here, drawing a few dozen residents. (Clipper)

Lawmakers Give Money to USTAR, Homeowners

- Utah lawmakers are using federal economic stimulus money to target the specific needs of the state. (KCPW

North Temple Viaduct Project Snags $20 Million from State

- Salt Lake City's efforts to reconstruct the North Temple viaduct will receive $20 million in state funding. (KCPW)

Utah Lake plan ready for review

- The final draft of a master plan to revitalize Utah Lake is done and ready for a review at the state level. (Deseret News)

Help for job seekers

- Although the recession has claimed 4.4 million jobs, the economy is creating others. More than 2 million job openings exist across a range of industries, including thousands in Utah.  (Salt Lake Tribune)

Gas prices a bright spot in bad economy

- The housing market is sluggish, the stock market is shaky and the job market stinks. But at least we have cheap gasoline. Utah has the second-lowest prices in the country. (Salt Lake Tribune)

Winning attitude crucial to success

- The inclination to win is genetic. It is a mindset that is generated from within and is not easily taught to someone not so inclined.
With those beliefs firmly in mind, Logistics Specialties Incorporated (LSI) President Sean Slatter has created a company culture that seeks out natural winners and gives them the opportunity to thrive. The result is a business development consulting company with an 84 percent winning streak in landing huge contracts for many of the largest companies on the planet. (Clipper

Temple Square ranks 16th in visitors

- Tom Alms strolled through Temple Square, a camera dangled from around his neck.
The Missourian's visit Wednesday is one of the roughly 5 million reasons annually the iconic square is the state's top tourist draw and one of the country's Top 25 attractions, according to a new list from ForbesTraveler.com. (Deseret News)

Hershey closes center in California after move to Ogden facility

- The Hershey Co. is closing down its Redlands, Calif., distribution center after having already moved most of its operations to a newly opened 545,000-square-foot facility in Ogden Business Depot. (Salt Lake Tribune)

Don't they know it's a recession?

- Empty store fronts along Main Street, Quarry Village and Bonanza Drive may be frequent reminders of the recession, but other parts of the county are seeing major construction projects moving forward revealing optimism for a quick recovery and the area's economic vitality. (Park Record)

Utah 6th in online access to government information

- Utah gets high marks for offering online access to government information, yet a recent survey found plenty to criticize. State agencies offer volumes of stuff, but much of it isn't very useful. It can be unorganized, dated and hard to find, and some important information is missing entirely. (Salt Lake Tribune)

Huntsman pleased that two bills on renewable energy were passed

- Gov. Jon Huntsman says the biggest achievement his office made during the 2009 legislative session was in the area of renewable energy. (Standard-Examiner)

Dick Nourse to host series showcasing Utah

- Well-known former KSL 5 News anchor Dick Nourse has formed a new company, Nourse-Hexagon Productions, to develop a series of half-hour TV programs called "Dick Nourse Visits ..."The pilot episode was recently completed in Kanab and Kane County.
(Spectrum)


CALENDAR


Mar. 24-26:  JEC Composites Show (Paris, France)

Mar. 26:  GOED Executive Director Jason Perry and SelectHealth CEO Sidney C. Paulsen will be among eight  executives honored during Utah Business Magazine's "CEO of the Year" ceremonies. (Grand America Hotel, Salt Lake City) Details here.


Mar. 30:
 Governor's 3rd Annual Utah Economic Summit (Grand America Hotel, Salt Lake City)

Apr. 14:  Senator Bennett's 8th Annual Rural Business Conference (Heber Valley-Zermatt Resort in Midway)

Apr. 15-17:  Utah League of Cities and Towns Midyear Conference (Dixie Center, St. George)

Apr. 26-28:  CoreNet (Dallas, TX)

Apr. 29-May1:  SME (San Diego, CA)


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