edcUTAH Aug. 4, 2009
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Economic Review
Jeff Edwards, president & CEO of EDCUtahPresident's Message
USTAR Announces Grants Program for Higher Ed Innovators and Companies

In an effort to bring innovative new technologies to market from Utah's regional public colleges and universities, USTAR has launched the Technology Commercialization Grant program. We think this is a great move and more evidence of USTAR's important impact on economic development. The $30,000 grants will be awarded for designing, prototyping and testing new products.

This program further strengthens the role our regional institutions have in fostering innovation. Additionally, Utah-based companies willing to sponsor technology development work at regional public institutions of higher learning may jointly apply with a faculty member. An overview of the program is available at www.innovationutah.com/TCGrants.html.

Also, this week UTA is hosting the American Public Transportation Association's (APTA) annual Sustainability & Public Transportation Conference in Salt Lake City. Elected officials, communities and government agencies are working to address emerging issues pertaining to sustainability, growth and transportation. EDCUtah sees sustainability as one of the leading factors in project criterion from companies looking to do business in Utah. The leadership Utah shows in this area and the support of local communities is vital to continued success.

Please also mark your calendars for our 2009 Annual Meeting, to be held at the Grand America Hotel on Wednesday, September 16, 2009. Invitation here.

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

Luxury resort to open in October
Developers have snatched up three liquor licenses from Utah's dwindling supply so that alcohol can be served at a southern Utah luxury resort scheduled to open in October. (Salt Lake Tribune)

U. of U. research keeps spinning out the spin-offs; 23 new firms join dozens of others created in past three years
There was a time on major university campuses when researchers toiled in the lab, wrote scientific papers, won praise from students and colleagues, and were awarded tenure. What they discovered seldom reached the public. (Salt Lake Tribune)

Utah ranks first in U.S. for volunteering
Utah has been ranked the top state for volunteering for the fourth year in a row. (Deseret News)

UTA to get $10M in federal funds for TRAX expansion
The Utah Transit Authority will receive $10 million in federal money to expand light rail to Draper, according to an announcement from Sen. Bob Bennett's office Thursday. (Deseret News)

Upcoming Census will show a dramatically different Utah
One thing about the upcoming 2010 Census is certain: Utah is definitley not at all the place it once was. (KUTV)

Princeton Review lauds SUU as one of best universities in the West
Southern Utah University has been recognized for the seventh time by The Princeton Review as one of the best universities in the Western United States. (Spectrum)

Goode Ski Lake to become world-class competition venue?
City officials are hopeful Goode Ski Technologies will acquire additional property to expand a local lake into a world-class venue for water-skiing competitions. (Standard-Examiner)

Impact of MLS All-Star Game felt by RSL and local economy
It's soccer nirvana for Utah fans of the sport Wednesday as Real Salt Lake hosts its first Major League Soccer All-Star Game. The event marks an important coming-of-age moment for both the team and the league. (KSL)

Developer to expand retail space on University Parkway
Despite a continued lackluster economy, commercial development is proceeding in some sectors of Utah Valley. (Daily Herald)

Hill AFB getting more national projects
Davis County's largest employer will be responsible for maintaining key components and systems in the Air Force's Unmanned Aerial Vehicles (UAVs) program. (Davis County Clipper)

Associated Foods buying most of Albertsons supermarkets in Utah
Associated Foods Stores is poised to overtake Smith's Food & Drug and Wal-Mart to become the state's No. 1 grocery chain by number of stores with its purchase of 36 Albertsons supermarkets in Utah announced Tuesday. (Salt Lake Tribune)

Animated fly-through of U of U USTAR research building
Arising on the campus of the University of Utah (U of U) is the James L. Sorenson Molecular Biotechnology Building - A USTAR Innovation Center. The facility had its groundbreaking in April, so it takes some imagination to picture what it will all look like. Thanks to Lord, Aeck & Sargent Architecture and the U of U, you can now enjoy an animated fly-through (via YouTube video) of the building. (UtahPulse)

Editorial: Uinta Basin tourism about to boom
The Uinta Basin's economy is cyclical, rising and falling with natural gas and oil prices, typified by booms and busts. It turns out that tourism, the one leg of the local economy that could provide some long-term stability for Uintah and Duchesne counties, is no exception to the rule. (Salt Lake Tribune)

U.S., Utah jobless claims show hopeful sign
The number of newly laid-off workers filing first-time claims for jobless benefits rose last week, the government said, though the increase was mostly due to seasonal distortions. (Salt Lake Tribune)

Calendar

September 9-11
ULCT (Sheraton, SLC)

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

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)

edcUTAH Investors

Current Investors
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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.

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Feature Story
Utah Rural Summit: Smart Strategies for Tough Times

In June of 1996 Kaibab Industries, a Garfield County employer of 30 years, cut its last log at its saw mill in Panguitch. Shuttering the mill, which had employed 400 people during its heyday, was devastating to the local economy, says Lowell Mecham, mayor of Tropic, a small, rural town nestled along Scenic Highway 12 in south central Utah.

Tourism has been the mainstay since then, as travelers navigate Highway 12 on their way from Bryce Canyon National Park to the Grand Staircase-Escalante National Monument and on to Capitol Reef National Park. Still, building a rural economy is a tough premise, especially in a recession. Tropic has survived nonetheless, and its successes will be recognized this week at the Utah Rural Summit in Cedar City, Aug. 5-7, where the town will receive a Rural Honors Award. The Moab area will also be honored as well, in recognition of the many individuals that have had a significant role in getting the federal government to move the radioactive mill tailings stored near the Colorado River.

"We try to recognize and praise people for their local actions, especially for their support of entrepreneurship, business expansion and retention," says Wesley Curtis, vice president for government relations & regional services in the Southern Utah University Office of Regional Services. This is the 22nd year for the summit, which will be held at the R. Haze Hunter Conference Center on the campus of Southern Utah University (SUU). The theme is "Smart Strategies for Tough Times".

"We are at a critical juncture in how we address issues such as energy development and energy policies, public lands management policies, and how we educate our rural workforce," Curtis says. "Each of these issues will have a profound impact on Utah's rural economy." Federal officials, state government and rural leaders from across the state will grapple with these and many other rural issues during the three-day summit, which begins Wednesday with a field trip tour of two significant Utah renewable energy projects: Raser Technologies' geothermal power plant and First Wind's Milford Wind farm, both located in Beaver County. "I think rural Utah is quite hopeful there will be some economic development opportunities in their communities through renewable energy," Curtis adds.

Lieutenant Governor Gary Herbert, a long-time supporter of the Rural Summit, will officially open the conference with an address on Thursday morning. "Local living" guru Michael Shuman and community success strategist David Ivan will offer the summit's keynote addresses, while Utah Speaker of the House of Representatives David Clark will close the summit with an address covering legislative issues, including the state budget and health care.

Shuman, who serves as senior partner in Local Economy Associates and vice president for enterprise development at the Training & Development Corporation of Washington D.C., will anchor the summit by sharing proven strategies for building local economies through a "local living" approach. He is the author of "The Small-Mart Revolution," which explains how consumers, investors, policymakers and organizers can effectively revitalize their own communities by supporting local businesses.

Friday's morning session will feature a "Small Town Success Strategies" presentation by Ivan, a nationally renowned speaker who has personally visited 250 best-practice communities in 10 states.

In addition to Herbert, Clark, Shuman and Ivan, other presenters will include Dianne R. Nielson, the governor's energy advisor, and Jeff Packer, chairman of the Utah Rural Development Council. Nielson will discuss state energy policy and topics such as the Western Climate Initiative, Utah renewable energy projects and energy transmission across rural Utah, while Packer will report on the activities of the Governor's Rural Partnership Board.

"Of particular importance to many rural counties will be a breakout session discussing the lessons learned from the Washington County Lands Bill process, and what other counties can expect to encounter as they pursue their own lands bill legislation," says Curtis. "This panel will feature staff from Senator Bob Bennett's Washington D.C. office, as well as other key players involved in the creation and passage of the bill."

A special public lands panel consisting of the state director of the Bureau of Land Management, the U.S. Forest Service's Intermountain Region's Deputy Regional Forester, and the Utah State Coordinator of the National Park Service will be also be a highlight of the summit.

EDCUtah President & CEO Jeff Edwards and Paul Larsen, with the Utah Alliance for Economic Development, will lead a breakout session covering rural economic development. "We are very interested in helping grow Utah's rural economies," says Edwards. Other breakout sessions will focus on Utah agriculture issues and state and federal agriculture resources, public lands management and use, growth and development planning resources for rural communities, the creative and arts economy, non-profits' roles across rural Utah, tourism and recreation, rural economic development assistance, and small town success stories.

"Our whole focus is dealing with the tough economy. Rural areas are generally the hardest hit in a recession and we are hoping to provide some ideas for people to latch on to, that will help them improve their local economies," Curtis says.

Mayor Mecham has been involved with the summit for a number of years and "is a big advocate," he says. "The information and programs are always beneficial."

The summit is sponsored by SUU's Office of Regional Services, the U.S. Department of Agriculture's Rural Development office, USU Extension Services, USTAR and Rocky Mountain Power. "We certainly couldn't do this without the sponsorship support we receive, which covers the expenses of the summit," Curtis adds. "Rocky Mountain Power has been a sponsor for 22 years. We are also grateful to USU, which has become a partner as well as a sponsor. USDA Rural Development is another long-time sponsor and usually also a presenter. We are also happy this year to have USTAR as one of our sponsors. USTAR is also a partner is some of our economic development activities."

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