President's Message Utah Valley Seeing Economic Gains Last week it was my pleasure to moderate a Utah Business Roundtable where we discussed what contributes to business success in Utah County. The county continues to see economic growth thanks to the transportation projects and improvements that are under way, the landmark development and expansion projects, business relocations, new business growth, a continued sense of community, and a tradition of entrepreneurship. Thanks to all of the business and community leaders that participated in this event. Read more about the roundtable here. In other exciting news, outdoor company Black Diamond Equipment, Inc. announced an increase in its workforce at its location in Holladay. The outdoor industry is one of our most touted economic clusters and news such as Black Diamond’s expansion helps further or economic development efforts within the outdoor industry. See our "In the News" column in this newsletter for links to media stories about Black Diamond. 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 President and CEO

Feature Story Governor Herbert to Chair NGA Economic Development Committee Utah Governor Gary R. Herbert has been appointed the new Chairman of the Economic Development and Commerce Committee for the National Governors Association (NGA). The appointment was announced in Boston on the final day of the 2010 NGA Annual Meeting. Governor Herbert replaces outgoing chairman, California Governor Arnold Schwarzenegger. "Gov. Herbert has extensive experience with economic issues and trade policy at both the state and local level," said NGA Vice Chair Nebraska Governor Dave Heineman. "His leadership is just what we need as this committee tackles these vital issues throughout the coming year." The Economic Development and Commerce Committee has jurisdiction over a broad range of issues including, but not limited to, transportation and infrastructure, financial services, housing and community development, economic development and trade, R&D innovation and competitiveness, and communications. "Utah is recognized as a leader among the states when it comes to economic development, and I believe this new assignment, which I am honored to receive, supports that," Governor Herbert said. "Our careful budgeting has positioned us well to emerge from the recession, and we continue to see economic development success across the state, even in these difficult times." Governor Herbert has previously served on the National Governors Association's Health and Human Services standing committee, the Healthcare Reform Task Force and the Homeland Security Special Committee. Utah will host the National Governors Association Annual Meeting in July 2012, the first time since 1947. "This year's annual meeting in Boston was a productive opportunity to share Utah's best practices and to learn from my colleagues," Governor Herbert said. "I am excited to host the nation's governors in Salt Lake City and show them everything Utah has to offer, everything from our highly recognized management practices to our unparalleled outdoor recreation opportunities and quality of life." The full membership of the Economic Development and Commerce Committee is: Governor Gary R. Herbert, Utah—Chair Governor Bev Perdue, North Carolina—Vice Chair Governor Janice K. Brewer, Arizona Governor Togiola T.A. Tulafono, American Samoa Governor Arnold Schwarzenegger, California Governor Linda Lingle, Hawaii Governor Mitch Daniels, Indiana Governor John E. Baldacci, Maine Governor Martin O'Malley, Maryland Governor Chris Christie, New Jersey Governor John Hoeven, North Dakota Governor Theodore R. Kulongoski, Oregon Governor Ted Strickland, Ohio Governor Edward G. Rendell, Pennsylvania Governor Luis G. Fortuño, Puerto Rico Governor Jim Doyle, Wisconsin For more information on the National Governors Association, visit www.nga.org.

Calendar

Aug 24-27
AUVSI's Unmanned Systems 2010 (Denver, CO)

Aug. 28
2nd Annual Ladies Curiosity Golf Challenge at Thanksgiving Point

Sept. 10-11
Mountain West Biomedical Engineering Conference (Park City)

Sept. 14
Averting, Surviving and Thriving: Working with Nonprofits to Build a Better Community workshop (West Jordan)

Sept. 14-17
Utah League of Cities and Towns Annual Convention (Salt Lake City)

Sep 19-21
CorNet Global Summit (Phoenix, AZ)

Sep 26-29
IEDC 2010 (Columbus, OH)

Oct 2-6
IAMC Professional Forum (Hot Springs, VA)

Oct 11-14
SAMPE Fall Technical Conference (Salt Lake City, UT)

Oct 12-13
SME Tooling for Composites Conference 2010 (Salt Lake City, UT) (Co-located with the SAMPE conference)

Oct 12-14
Solar Power International 10 (Los Angeles, CA)

Oct. 14-15
Nano Utah 2010 (Salt Lake City)

Oct. 20
EDCUtah 2010 Annual Meeting (Grand America) 7:30 a.m. registration, 8 a.m. breakfast meeting

Dec 15
EDCUtah Holiday Open House (Salt Lake City)

Jan. 12, 2011
"What's Up Down South" Washington County Economic Summit (St. George)

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Export West: Utah is the Place!
Utah's three large metropolitan areas generated more than $10 billion dollars worth of exports in 2008. At 11.2 percent of the metros' total production, this equated to an export intensity almost one full percentage point higher than that of the nation's top 100 metro areas.
(The New Republic)

Black Diamond to expand outdoor equipment operations in Utah
Black Diamond Equipment, Inc. (BDE), with headquarters in Holladay, Utah, is expanding operations in the State. BDE is a major producer of outdoor products, and is critical to Utah's Outdoor Products and Recreation strategic industry cluster.
(Salt Lake Tribune) (Daily Herald) (Deseret News) (KSL)

Influential tourism group to meet in SLC in 2011
A group of nearly 400 professionals from destination travel organizations will meet next August in Salt Lake City.
(Salt Lake Tribune) (Utah Pulse)

SDL wins major NASA contract to work on satellite
The Space Dynamics Laboratory at Utah State University has won a major NASA contract to work on a new satellite that aims to produce "highly accurate and irrefutable climate records."
(Herald Journal) (Deseret News)

Utah lures Adobe, other California high-tech companies
First Nevada targeted California companies and jobs. Now Utah has entered the game as a high-stakes player. The Beehive State has been reaching out to California-based technology companies, touting Utah's business-friendly environment, alluring tax incentives, comparatively affordable cost of living and pleasing recreational attractions, including Olympic-grade winter sports facilities. And it's working.
(Sacramento Bee)

Utah Valley happy with economic success
Business leaders, representing industries from education to hospitality to technology to real estate gathered at a Utah Business roundtable on Tuesday, August 10, 2010 to discuss what contributes to Utah County's business success.
(Digital IQ)

Kennecott seeks to extend life of Utah mine
Kennecott Utah Copper is laying plans for a major expansion of its Bingham Canyon mine, a project that if launched promises to solidify its centurylong status as one of the state's main economic engines.
(Salt Lake Tribune)

More tax breaks will mean more movies made in Utah, commission says
Southern Utah's biblically proportioned Plateau Province weather-whittled silt and red sandstone has been stealing movie scenes since John Ford made it the ramparts of the Old West.
(Deseret News) (more from Deseret News) (KSL)

Made in Utah Film - 127 Hours will close The 54th BFI London
127 Hours is the true story of mountain climber Aron Ralston's remarkable adventure to save himself after a falling boulder crashes on his arm and traps him in an isolated canyon in Utah.
(BFI)

Politics up close: Economic Development in Utah
What goes in to attracting and keeping businesses in Utah? Radio station KCPW interviews EDCUtah President & CEO Jeff Edwards about economic development in Utah.
(KCPW)

Where the jobs are, part 2
As tens of thousands of Utahns struggle to find any work, there are companies that are hiring in significant numbers.
(KSL)

Davis County Business Development Loan Fund leading to job creation
The Davis County Business Development Loan Fund has been instrumental in creating or retaining more than 800 jobs in the past 11 years, the Davis County Council of Governments was told Wednesday.
(Deseret News)

'The Foundry' giving entrepreneurs support in getting businesses started
This month's cover story in INC. magazine says "Bring on the Entrepreneurs!" The article says they will create thousands of new companies and millions of new jobs in the future. Utah has had a vibrant entrepreneurial movement for years, and it's getting better.
(KSL)

Home sales improving despite confusion
It's up, and down. The real estate market in Davis County continues to be a yo-yo.
(Davis County Clipper)

Two city councils move ahead on joint Legacy Gateway project
"...a resolution approved jointly by the West Bountiful and Woods Cross city councils Tuesday night opens the door to a Community Development Area of clean industry, office space and some retail, which is planned to fit in well with the Legacy Parkway..." at 500 South.
(Davis County Clipper)

Utahns warming to solar energy systems
Environmentalists long have dreamed of a time when the massive coal-fired plants that generate much of the nation's electricity will fall idle, replaced by small, nonpolluting power production on individual homes and businesses.
(Salt Lake Tribune)

Utah work force shrinks by more than 2,000
Utah has shed more than 2,000 state employees in the past 18 months through attrition, early retirement, privatization and layoffs.
(Salt Lake Tribune)

Could an iconic public market transform SLC?
A developer who stirred Salt Lake City's east bench into a frenzy about the relocation of the Blue Boutique now wants to transfigure downtown's southwest tip with an eye-popping year-round public market.
(Salt Lake Tribune)

Salt Lake biofuel project in national spotlight
Did you know that biofuel is being grown in Salt Lake City? And the crops are now in the national spotlight.
(ABC 4)

Utah data center for Twitter may open in early fall
A new computer center in Utah that will run operations for Twitter's highly popular and explosively growing social network may be opening as soon as September.
(Salt Lake Tribune)

Utah takes in more than $3B in federal stimulus money
The amount of federal stimulus cash pumped into Utah by the controversial American Recovery and Reinvestment Act has now surpassed the $3 billion mark in spending and as much as another $1.5 billion in tax cuts.
(Salt Lake Tribune)

Utah County energy initiative fueled by $6M in stimulus funds
Utah County will use $6 million in federal stimulus funds to make 18 public buildings more energy efficient.
(Deseret News)

Eggett on in Syracuse; Employee to use skills to develop community, attract jobs
The city council has unanimously approved the hiring of Michael Eggett to fill its recently created community development director position.
(Standard-Examiner)

Economy slow but 'on the right road,' real-estate workers told
Real-estate professionals did all they could to put a positive spin on the economy's future Wednesday, but they had to admit that, realistically, the system is unlikely to improve for a few years.
(Deseret News) (Salt Lake Tribune)

Utah universities listed in U.S. News college rankings
The U.S. News & World Report university rankings were published on Tuesday morning and many Utah institutions were listed among the best.
(Fox 13)

Tour of Utah already looking ahead
As Olympic medalists, world champions and Tour de France racers powerfully and gracefully raced their bikes at speeds in excess of 40 mph around Memory Grove near the Utah state Capitol, Steve Miller was already plotting the 2011 version of the Tour of Utah.
(Deseret News)

Out-of-state success key to Utah tourism funds
Two years ago, Tuacahn Center for the Arts received $50,000 in state tourism funding to promote its performances out of state. The result: "We anticipate that 36 percent of our guests this year will visit Tuacahn from outside of Utah," said Kevin Smith, CEO of the theater outside of St. George.
(Deseret News)

Gov. Gary Herbert tells manufacturers that 'unprecedented partnerships' are needed to boost Utah's economy
Gov. Gary Herbert liked what he saw Wednesday at the Utah Manufacturers Association's Best Practices Expo — competitors sharing ideas as a way to improve their entire industry sector.
(Deseret News)

Utah ranked No. 3 nationally for minerals production
On the same day a group of lawmakers was pressed about the need to increase "mineral literacy" in Utah, a new report showed the state now ranks No. 3 in the nation for the value of non-fuel minerals produced in 2009.
(Deseret News)

120 to be laid off at Citi in Layton
Officials with Citi Commerce Solutions announced Wednesday they are laying off about 120 workers at the firm's credit card service center in Layton.
(Standard-Examiner)

UTOPIA awarded $16M in broadband stimulus funding
The Utah Telecommunication Open Infrastructure Agency (UTOPIA) today announced that it has been awarded just over $16 million in funding from the American Reinvestment and Recovery Act.
(Utah PUlse)