Feature

Utah Governor Jon Huntsman Welcomes New Goldman Sachs Expansion

Last week Utah Governor Jon Huntsman met with senior leadership of Goldman Sachs in New York City, where they jointly announced a major expansion of the Goldman Sachs operations in Utah.

A leading global investment banking, securities and investment management firm, Goldman Sachs' current Utah operations employs 350 within its offices in the University of Utah Research Park, where it provides 24/7 support to its clients worldwide. The company has plans to grow its Utah employee base from approximately 350 to over 700 over the next three years. The new jobs will include support for institutional asset management, derivatives, Goldman Sachs Bank USA, as well as securities sales and trading. What's more, the company will build out 15,500 sq. ft. of its existing 80,000 sq. ft. in order to accommodate the additional employees.

“Utah is an important part of our strategy and we are very pleased with the business opportunity and the caliber of the local workforce,” says Jeff Schroeder, Goldman Sachs CAO.

With this expansion, Governor Huntsman says Goldman Sachs will join other sector-leading companies in Utah, such as Procter & Gamble, ATK and Amer Sports, which all have headquarter operations or major new facilities in Utah. “Utah's competitive tax structure, highly-skilled workforce and unparalleled quality of life provide a premier foundation for success,” he adds.

The recruitment project was a joint effort of the Utah Governor's Office of Economic Development and EDCUTAH, working with KLG Consulting in NYC, who served as site consultants.

“This is a significant win for Salt Lake City, Salt Lake County and the State of Utah,” says Jeff Edwards, president and CEO of EDCUtah. “EDCUtah leveraged its long-time relationship with site consultants at KLG and assisted with site visits, research, economic data, coordination of the various entities, and consulting throughout the incentive process.”

Edwards extends special thanks to the following entities for their important roles in the project:

• Governor's Office of Economic Development – Governor Huntsman played an important role through his direct contact with the company. GOED assisted throughout the project and provided a post-performance EDTIF incentive of $20 million.
• KLG Consulting – Was the company's consultant firm and provided invaluable coordination assistance in site visits, the incentive application process, and project management.
• Salt Lake City – Provided assistance throughout the process.

Todd Brightwell, vice president of business development, led this project for EDCUtah.

2008 Golf for Grants Tourney a Success—Despite the Rain!

Mother Nature may have won the day at EDCUtah's Golf for Grants tournament on June 4, but the event was still a smashing success, largely due to the enormous generosity of our sponsors.

Although partially rained out—a down-pour forced us to duck for cover and short-circuited other events—we enjoyed an early lunch and prize drawings. Most importantly, the tournament raised enough money to meet EDCUtah's Match Grant commitments for the year. As you know, for the past 20 years the Match Grant program has assisted communities across the state in their local economic development efforts.

We extend special thanks to Mark Bouchard and CB Richard Ellis, the tournament's Platinum Sponsor. CB Richard Ellis made a substantial contribution to the tournament. We also extend special thanks to our Gold Sponsors:

• Price Realty
• Qwest
• Select Health

Not to be forgotten, we also deeply appreciate the support of our Silver Sponsors:

• BDO
• Big D Construction
• Callister Nebeker & McCullough
• Coldwell Banker
• Commerce CRG
• Freeport West
• Humana
• Industrial Supply Company
• Key Bank
• River Stone Design
• Rocky Mountain Power
• Kennecott Land
• Workers Compensation Fund
• Zions Bank

Thanks to all for helping make the 2008 Golf for Grants tournament a fun event and great success.

The 2009 Golf for Grants tournament has been scheduled for June 23 and EDCUtah is now taking early sponsorship reservations. Please call Art Franks (801) 323-4242 for more details.