edcUTAH July 21, 2009
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Economic Review
Jeff Edwards, president & CEO of EDCUtahPresident's Message
Utah Receives Positive Rankings for Economic Outlook, Livability

Utah's economy and business environment continue to receive national accolades. Just recently, Utah was ranked, again, as one of the top five states with a good economic outlook. Read the article here. Utah also can boast having four cities in the top 100 places to live, as ranked by Money Magazine. The cities are: Farmington, Draper, Bountiful and Lindon. Read about it here.

Also, remember EDCUtah's night at Rio Tinto Stadium on August 8, 2009, where you will see Real Salt Lake play the Seattle Sounders FC and have a chance to network with fellow EDCUtah investors. This event is graciously being sponsored by Layton Construction, builders of the Rio Tinto Stadium. There are only 50 seats left. If you would like a pair of tickets, e-mail Alan Rindlisbacher arindlisbacher@laytoncompanies.com to reserve your seats today! First come, first served.

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

In the News

Retailer expo can translate into big money
Utah made its mark on the winter sports community when the Olympics arrived in 2002, and now the Beehive State is taking all types of outdoor recreation by storm. (Deseret News)

Avalanche-gear company opens center in Utah
Ortovox USA Inc., a subsidiary of a German company that primarily makes transceivers and avalanche gear, has opened its Western sales and distribution center in West Valley City. (Salt Lake Tribune)

Meeting planners praise SLC after convention
The people who organize meetings for a living left Salt Lake City on Wednesday satisfied with the way their meeting was run here. (Salt Lake Tribune)

School psychologists coming to SLC in 2016
The National Association of School Psychologists will hold its 2016 convention in Salt Lake City. Sally Tilson O'Neill of the Salt Lake Convention and Visitors Bureau recently booked the annual convention for Feb. 16-20 of that year. It is expected to draw 4,500 attendees, generate 1,855 room nights on peak for a total of 7,500 room nights, and produce a projected delegate spending of $4 million in 2016. (Salt Lake Tribune)

Hunting expo returns to Salt Lake next February
Coming off two strong years in Utah, the Western Hunting & Conservation Expo has selected Salt Lake over Reno for its 2010 show. (Salt Lake Tribune)

Magnetic resonance scientists to meet in SLC in 2013
A scientific association focused on applications of magnetic resonance to medicine and biology will stage its 2013 annual convention in Salt Lake City. The International Society for Magnetic Resonance in Medicine's meeting is expected to attract 6,000 attendees, who will fill 2,500 room nights in Salt Lake City hotels, generating an estimated $5.3 million for the economy. (Salt Lake Tribune)

Hill will get military probe work
Hill Air Force Base was among the nation's hardest-hit military facilities when the Air Force decided to retire scores of old fighter jets -- a move that will eliminate an entire fighter squadron at the northern Utah base. But that loss may be significantly tempered by Wednesday's announcement that the base had secured the Air Force's maintenance workload for remote surveillance and attack drones -- weapons platforms largely regarded as the future of air warfare. (Salt Lake Tribune) (Standard-Examiner) (Deseret News)

Herbert says education 'top priority' for economy
Building a strong economy may be incoming Utah Gov. Gary Herbert's No. 1 priority, but education is like unto it. (Deseret News) (Salt Lake Tribune)

Huntsman's confirmation as ambassador could be a breeze
Gov. Jon Huntsman Jr. should be prepared to answer some tough, probing questions when he goes before the Senate Foreign Relations Committee next week, but he will likely emerge unscathed, experts say. (Salt Lake Tribune) (Deseret News)

Farmington, Bountiful in top 100
Two Davis County cities recently made Money magazine’s latest ranking of the top 100 cities to live in the United States. Farmington and Bountiful both made this year’s list, which focused on the best small towns and appears in the magazine’s August issue. (Davis County Clipper) (Deseret News) (Standard-Examiner)

Provo Makes Another Top 10 List
Provo is ranked as one of America's "10 best cities to look for creative jobs." (U.S. News & World Report)

Downtown Ogden, Utah continues welcoming visitors by building tourist infrastructure
Ogden wants visitors to the city to feel very welcome. (Standard-Examiner)

US Ski Team celebrates grand new home in Utah
PARK CITY - All that's missing is snow. Anything else that the members of the U.S. Ski and Snowboard Association need-or want-is on site at the new USSA Center of Excellence, an 85,000-square-foot sports palace for skiers and snowboarders to train, heal or just hang out when they're not on snow. (MLive.com)

Calendar

July 21-24
OR Summer Market (Salt Palace)

September 9-11
ULCT (Sheraton, SLC)

September 16
EDCUtah Annual Meeting (Grand America Hotel, Salt Lake City) (breakfast meeting)

September 19-23
IAMC (Minneapolis, MN)

October 4-7
IEDC (TBD)

October 15
Quarterly Investor Update (Jewish Community Center, Salt Lake City)

November 18
Board Meeting (Salt Lake Country Club)

December 16
Holiday Open House (EDCUtah)

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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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Feature Story
Meeting Planner's Convention Should Give Long-term Boost to Salt Lake City Convention Business

Not since the 2002 Winter Olympics has Salt Lake City hosted an event with as much potential influence on future convention and visitor business as it did over the four days from July 11-14, when Meeting Professionals International (MPI) convened its 25th Annual World Education Congress here.

The World Education Congress (WEC) is MPI's largest gathering of meeting and event professionals from around the globe. MPI planner members collectively account for more than $14 billion in annual meeting business, and each planner member has an average annual convention/meeting planning department budget of more than $2 million. Compound that with the fact that MPI members represent 80 percent of Fortune 100 companies, including American Express, Microsoft, CitiGroup, PepsiCo, ExxonMobil, Pfizer, Ford Motor Company, Proctor and Gamble, IBM and Verizon Wireless, and that 75 percent of this year's 2,400 attendees had never been to Salt Lake City and you can see why MPI's Annual World Congress was such an important event for Utah, says Scott Beck, president and CEO of the Salt Lake Convention & Visitors Bureau (SLCVB).

In Perspective
"To put this in perspective," he says, "the MPI World Education Congress is to Utah's meeting industry what the 2002 Winter Olympics were to the state's winter tourism industry."

Salt Lake was awarded the honor of hosting the MPI event in 2005 through a bid process narrowed down from an initial list of bid cities. "We were selected over cities like St Louis, Orlando, Minneapolis, and Vancouver," says Beck. "The fact that we were an Olympic Host City was a huge feather in our cap. It really helped us overcome the perceptions that Salt Lake was too small, or not able to hold international events."

Vicki Hawarden, MPI's vice president of knowledge and special events, says MPI had high expectations for its Salt Lake City event. "We were sure they would blow this out of the water for us. We look for a city to host this convention that has passion and creativity; that is affordable, with natural beauty. We chose Salt Lake because it is fabulous for its hospitality and creative energy."

Hi Expectations
With such high expectations and so much on the line, the SLCVB with its partners and army of volunteers pulled out all of the stops for the MPI World Education Conference attendees. Highlighting one of Salt Lake's most enduring strengths -- the friendly, outgoing and hospitable nature of Utahns -- the SLCVB deployed a unique group of "Guest Service Rangers" dressed in ranger gear, Smoky the Bear hats and bright green shirts, to welcome and shepherd MPI delegates at the Salt Lake International Airport, TRAXX stations and other key locations throughout the city.

EDCUtah's Amber Deibert was one such volunteer "ranger". She shepherded attendees at the airport and then later at a TRAXX station. While at the airport she overheard attendees make comments such as "My day just got so much easier because you are here!" and "Everyone I have met is so nice!" Exactly the comments SLCVB hoped for as it played off of its "Different by Nature" branding and demonstrated its ability to host large-scale gatherings.

Says Beck: "This MPI World Education Congress was repeatedly mentioned as the 'best ever by any city anywhere' by every attendee."

Showcasing Utah
In addition to ensuring that MPI attendees experienced a pleasant visit, the SLCVB also showcased the area's natural beauty via events at spectacular outdoor venues. Opening night festivities took place at Library Square in conjunction with the Salt Lake Jazz Festival and included a dazzling aerial performance by the world-famous Project Bandaloop dance company, which used ropes and the glass walls of the City Library as its stage. In cooperation with the Park City Chamber/Bureau, the SLCVB also held a Monday night "Party in the Park (City)" with Park City Mayor Dana Williams' band, Motherlode and a performance by the Flying Aces. The closing night soiree at Red Butte Garden featured a sumptuous picnic and concert by Smash Mouth.

"From the welcome address of our top 'Guest Service Ranger', Mayor Peter Corroon, to the warm and genuine thank you and 'come back and see us' of Lt. Governor Gary Herbert, MPI attendees clearly understand that Utah gets the meeting and convention industry and has the necessary support of local and state government to ensure that large, international events are successful."

Indeed, this was an incredible event for Utah and beyond the immediate, direct economic impact of more than $2 million generated through the stay of attendees, the long-term exposure of hosting MPI is where the real impact will be felt. In fact, the SLCVB expects the halo effect to create an incremental bump of five to seven percent annually in its already expanding base of convention business. While such an impact is an estimate, the potential is exciting. Beck says during the convention his organization received numerous quotes from prospects about how blown away they were by Utah.

Watching the Tweets
"We closely watched the Twitter chatter during the event and we know of two people who have already selected Salt Lake for 2010 for meetings, one at the Marriott Downtown and the other at the Grand America," he adds. "We also had several large, city-wide event planners contact us during the show for additional information, and I am confident that in the next month we will announce two large conventions whose planners were at the event and were 100 percent convinced during this event to take their recommendations back to their board that Salt Lake be the location for their convention."

Utah's friendly nature and natural amenities were not the only favorites of which MPI attendees took note -- Utah's new liquor law was also a big hit. "Not only did we overhear discussions about our new liquor law, we initiated discussions, celebrated the changes and were told by multiple planners how important this change was for the industry," says Beck.

Further, he says, "Think about being in Salt Lake for the first time and walking from Gracie's on West Temple, to Keys on Main, to the Sand Bar on Pierpont Street with a group of friends interested in socializing after a long hard day on the tradeshow floor, and not having to go through the 'Are you a member?' discussion. The new law was received just as we had anticipated and our guests now know that Salt Lake City is a lot more normal then they had thought."

Big Business
Convention events such as the MPI World Education Congress are big business for Salt Lake City and the state. The SLCVB estimates this year's impact on the economy from the direct spending of convention delegates in Salt Lake City alone will be in excess of $200 million dollars. On a larger scale, Beck says the monies spent in Salt Lake County by visitors in the hotel, rental car and restaurant segments (subtracting 70 percent of restaurant revenues due to local dining) is in excess of $1.2 billion dollars.

"That figure includes spending by the skiers, the tourists, the genealogists, the hikers, and the bikers, etc., that come to Salt Lake as visitors," he adds, emphasizing that it is not "economic impact" but rather, direct spending by visitors and does not include the ripple effect of jobs created by the visitors or spending in any area other than hotel, rental car and restaurant segments.

"Visitor spending is a huge part of the Salt Lake area economy, and that's why we are so thrilled with the potential long-term impact MPI can have. If the leading organization in this industry says our city is good enough for its international meeting, then it also is good enough for any group planning its next large meeting and we are prepared to host it."

edcUTAH