| President's Message
Project Update Report: EDCUtah on Track for Another Record-Breaking Year
Once a month, EDCUtah emails to our investors a link to our latest Project Update report. The report gives our investors insight into projects we are working, including their activity level and those that are concluded. The purpose of the report is to help our investors can stay engaged with EDCUtah and informed about the corporate recruitment process.
For example, key metrics from the latest report include 294 open projects, with 12 new projects added in the last 30 days. We are happy to report that we are on track to have another record-breaking year for job creation!
In May, we announced wins in the software, manufacturing, mining and transportation sectors. Xactware, Schiff Nutrition, FLSmidth and Peterbilt are all Utah companies that have decided to expand here rather than go elsewhere. Our success is further evidence of Utah's excellent business climate, our unparalleled workforce and the public-private partnerships that help us get business done as a state.
As always, thank you for your supporting our organization and mission. I appreciate the confidence of so many of Utah's government and business leaders. Feel free to contact me directly with any questions you may have about our economic development efforts.
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
Successful Golf Tournament Helps Fund Another Round of Community Match Grants
EDCUtah's 2012 Golf for Grants Tournament, held last Wednesday at Eaglewood Golf Course, was another swinging success. Thirty-six teams totaling 144 players competed for bragging rights, fun and prizes in the tournament, which benefits EDCUtah's Community Match Grant Program.
Top tournament finishers were:
- 1st Place -- Layton Companies: Dave Layton, Cary Nelson, Steve Maxwell and Tom Dischmann
- 2nd Place -- Sandy City: Nick Duerksen, Kasey Dunlavy, Jason Burningham and Kyle Fielding
- 3rd Place -- Hunt Electric: Mike Buell, Sean Campbell, Mike Smith and Steve Rich
Congratulations to Carson Fuller, from the Davis Conference Center, for hitting a hole in one on hole #8.
Golfers at the ready ... EDCUtah's 2012 Golf for Grants Tournament was a swinging success.
Art Franks, EDCUtah's director of special projects, says the proceeds from the tournament will help fund the next round of community match grants, a program dedicated to providing assistance for specific economic development marketing and training efforts for municipalities and other non-profit organizations throughout Utah. The money helps these organizations fund economic development projects they might not otherwise afford.
Match Grant Applications
Each year, Match Grant applications total approximately $80,000 to $90,000, but EDCUtah's budget only covers about $45,000 of that amount. Hence, the money raised from the golf tournament allows EDCUtah to fund additional match grant applications. Since the program's inception in 1989, EDCUtah has awarded more than $864,950 to communities and organizations in all 29 of Utah's Counties.
"EDCUtah always receives fantastic support from our sponsors and the tournament could not be a success without them," says Franks. "This year's sponsors were active both financially and physically in supporting the tournament. We especially want to thank Price Realty, for once again serving as our Platinum Sponsor; CenturyLink, our Gold Sponsor; and the following Silver Sponsors:
- Bank of Utah
- Boyer Company / Business Depot Ogden
- City of South Jordan
- Davis Conference Center
- Hughes General Contractors, Inc.
- Hunt Electric
- Jacobsen Construction
- Layton Companies
- Mountain America Credit Union
- Penna Powers Brian Haynes
- Rio Tinto / Kennecott
- Rocky Mountain Power
- SOS Staffing Services
- ViaWest Inc.
- Workers Compensation Fund
EDCUtah also thanks R&O Construction for sponsoring the drinks cart, and Phil Thompson, Industrial Supply Company, Inc. for a helping with the tee prize.
Three Application Types
EDCUtah accepts Match Grant applications in three areas: Marketing Match Grants, Sponsorship Match Grants and Professional Development Assistance Match Grants.
Franks says Marketing Match Grants provide matching funds for economic development initiatives, such as development of direct marketing materials, website development, research projects that are directly applicable to recruitment strategies and work related to potential SURE Sites properties, including the completion of environmental and geo-technical studies, infrastructure assessments and other preparatory analysis.
Sponsorship Match Grants provide matching funds for specific economic development events. EDCUtah's Match Grant Award Committee bases the awards on the quality of the event, how well the event addresses an economic need in the community and the audience to be reached. Special consideration is given to projects that provide an interface among economic development partners.
Professional Development Assistance Match Grants provide matching funds to economic developers looking to enhance their professionalism and expertise. Before participating, applicants must have one year of experience in economic development, as well as experience in the communities they are representing. Applicants may apply for one training opportunity per year.
Franks says the grants can be used any number of ways, as long as they fit within the guidelines for each of the grant types. Once again, he thanks this year's golf tournament sponsors, the EDCUtah staff, volunteers and participants for helping make the next round of match grants possible.
Site Selection and Economic Development
Come learn about exciting economic developments in Utah and how several of the state's top companies approach site selection and corporate expansion.
EDCUtah and the CoreNet Global Greater Salt Lake Chapter invite you to join us for our June 21 event from 4:30 - 6 p.m. in the Questar Building, 333 S. State Street, Salt Lake City.
Guest Speaker: Spencer P. Eccles, Executive Director of the Governor's Office of Economic Development (GOED)
- Jonathan Francom - Adobe Systems, Director, Global Workplace Strategic Programs
- Tom Uriona - Intermountain Healthcare, Corporate Real Estate Director
- Brad Baird - Questar Gas, Director Real Estate Facilities & Investments
Panel Moderator and introductions: Todd Brightwell, Senior Vice President Business Development, Economic Development Corporation of Utah (EDCUtah)
This event will be free for members of CoreNet Global, $25 for non-members. Light refreshments will be served. Click here to RSVP.
Street parking is available.
CoreNet Global Greater Salt Lake Chapter -- Site Selection and Economic Development; 4:30-6 p.m. (Questar Building, 333 S. State Street, Salt Lake City) RSVP to firstname.lastname@example.org
SAVE the Date -- EDCUtah Quarterly Investor Update 4–6 p.m. - Speaker and Location TBD.
Save the Date: 7th Annual Native American Summit (Sheraton Salt Lake City)
Save the Date! Uintah County Energy Summit (Vernal)
What's Goin' Down Up North -- Northern Utah Economic Summit (Utah State University Innovation Campus, 489 East 1650 North, North Logan)
EDCUtah Annual Meeting (Grand America Hotel) 11 a.m. – 2 p.m., lunch provided.
Technology Venture Development Executive Education Seminar (University of Utah)
Why Be an Investor?
Board of Trustees
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.
If you prefer not to receive this newsletter, please click Unsubscribe below.
Your comments and suggestions regarding this newsletter are always welcome.
In the News
Utah ranks second among the next economic 'boom states'
Utah's economy is growing and a new report comparing states throughout the nation says it is ready to explode.
(Salt Lake Tribune)
Gold and silver help drive Utah's export growth to new heights
Utah's booming export industry has pushed the Beehive State to the top of the nation's economic food chain.
U.S. Chamber: Utah well positioned for bright economic future
Utah's economy is ready to boom, according to a new report released Wednesday by the U.S. Chamber of Commerce, which lavished praise on the state for its expanding financial services and tech sectors, a spike in exports, a lenient regulatory structure and low cost of living.
(Salt Lake Tribune) (US Chamber) (Wall Street Journal)
BYU, University of Utah business schools on News and World Report's 'most popular' list
Two business schools in Utah, Brigham Young University's Marriott School of Business and the University of Utah's David Eccles School of Business, have joined the ranks of Harvard and Stanford on U.S. News & World Report's Most Popular Business Schools list.
Nu Skin expansion in Provo reaches halfway point
Nu Skin marked the halfway point Monday for the construction of its $90 million Innovation Center in downtown Provo.
Silver lining found in winter guest numbers
Numbers were down for Park City's three resorts - Deer Valley Resort, Park City Mountain Resort and Canyons Resort - but even with a drop in lift ticket sales
Outdoor recreation pays big
Western lands are a treasure trove, generating $256.6 billion or 40 percent of all the total amount Americans spent last year on outdoor recreation, a report released Sunday shows.
(Salt Lake Tribune)
Ogden selects new director to spur economic growth
Despite the uncertain economy, Tom Christopulos is optimistic as he steps into his new role as Ogden's Community and Economic Development Director.
(Salt Lake Tribune)
How strong would Utah's economy be if Congress got out of the way?
Just two centuries ago, almost anything a person purchased was very likely produced within a modest geographic reach. If you were in business during the early 19th century, everything you made had to be sold close by. There were exceptions, of course, but the world was a relatively large place and reaching much of it was difficult, if not impossible.
Students complete first Utah-China dual degree program at Westminster College
When Yajing "Tulip" Fan came to the U.S. two years ago, she hoped to broaden her educational horizons and improve her career prospects and selected a new program that would hopefully offer both.
Crews finish first stretch of Utah County's I-15 rebuild
The Utah Department of Transportation on Wednesday officially declared as complete the first section of the massive project to rebuild Interstate 15 in Utah County -- a 4.5-mile stretch from Lehi to Pleasant Grove.
(Tribune) (Deseret News) (KSL)
Leading Change: Utah's top business leaders chart a path forward
Businesses must be willing to embrace change to succeed. That was the consensus of the 100-plus business leaders who met to discuss "Leading Change" at the Salt Lake Chamber's annual Board of Governors retreat, at Deer Valley.