President's Message
Annual Meeting Reminder – Two Weeks & Counting
EDCUtah’s annual meeting on September 4, 2008 is going to be a
showcase event for the accomplishments of the past year and a
kickoff to another stellar year for economic development in Utah.
It will also be an opportunity to thank EDCUtah’s outgoing
chairman of the board, Phil Thompson of Industrial Supply Company,
and welcome incoming chairman Jerry Fenn, with Qwest
Communications.
The highlight of the meeting will be hearing from Dr. Anne Smith,
an expert on climate change policy. Her keynote address on the
potential impacts of climate change policy are sure to inform the
audience on where economic development could head in the future.
You have one week left to register. Please e-mail or call Amie
Salazar at 801.328.8842 or
asalazar@edcutah.org and RSVP by Wednesday, August 27, 2008.
For more information
click here.
On another positive note, please take a minute to read our feature
story regarding Sephora U.S.A.’s exciting Grand Opening and Ribbon
Cutting held this Monday in Salt Lake City.
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” button on the
bottom of this page. Enjoy!

Jeff Edwards
President and CEO
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Feature
From Zero to Fully Operational in 20 Weeks: Sephora U.S.A.
Celebrates with Ribbon-Cutting
Monday’s ribbon-cutting event at Sephora U.S.A.’s new, 312,000
square-foot western distribution center, 6075 W. 300 South, Salt
Lake City, celebrated the culmination of a year-and-half long
courtship between the beauty products giant and the Beehive State.
“It is certainly a big cause for celebration in the city,” says
Bob Farrington, Salt Lake City’s economic development director.
“It represents 120 current jobs, significant expansion to 500
jobs, and it’s a great connection to have since Sephora is a
French-owned, international company and we now have direct flights
from Salt Lake City to Paris. Utah-based companies are able to
take advantage of our many domestic connections and increasing
international connections.”
The list of dignitaries on hand for the event included Sephora
U.S.A. CEO David Suliteanu, Patrick Murray, Sephora U.S.A.’s
senior vice president and CFO, Martin Flaherty, Sephora U.S.A.’s
vice president of logistics, Utah Governor Jon M. Huntsman and
First Lady Mary Kaye Huntsman, Salt Lake City Mayor Ralph Becker,
Salt Lake County Mayor Peter Corroon, Jason Perry, executive
director of the Governor’s Office of Economic Development (GOED),
Bhaskar Ragula, chair of the GOED Board, Jeff Edwards, president
and CEO of EDCUtah, Deedee Coradini, former mayor of Salt Lake
City and member of EDCUtah's Board of Trustees, Bob Farrington,
and Farmington City Mayor Scott Harbertson.
“This is a huge win for Utah,” says Edwards. “Sephora is a
wonderful corporate citizen and we look forward to a long,
prosperous relationship.”
During the ribbon-cutting event, Flaherty announced Sephora will
make a donation to First Lady Huntsman’s “Power in You” charity.
“It is part of Sephora’s culture to give back to the communities
we serve,” he says. “When we learned that First Lady Huntsman is a
champion of the Power in You charity, we saw it as an opportunity
to demonstrate our commitment to the community.”
Flaherty says Sephora takes its corporate citizenship seriously
and the company intends to be involved in the local educational
community, working with the community colleges and local high
schools in particular. Sephora offers fantastic tuition
reimbursement benefits and advancement programs. In fact, the
company has already purchased season tickets to University of Utah
athletic events and will provide them to its distribution center
associates.
During the site selection process, Sephora looked seriously at 14
geographical locations such as New Mexico, Arizona, Colorado,
Nevada, Colorado and California. Flaherty says Utah had it all
together: collaborative government and business leadership, a
great transportation system, close proximity to the Salt Lake
International Airport, the availability of a quality labor force,
lower costs of doing business, a vibrant city center, quality of
life and a beautiful, scenic environment.
“But it was the work of Governor Huntsman, EDCUtah and Mayor
Becker that cinched the deal for us,” he adds. “We were under a
tight deadline and would have been in serious straits if we had
not been able to make our new distribution center operational by
July 7. Utah’s leadership promised to work energetically to
expedite the permitting process and get us plugged in to the
electric grid—that was the type of partnership we were looking
for. We couldn’t be happier with the degree of assistance and
support we received.”
Samantha Mary Julian, EDCUtah’s business development manager and
Sephora project lead, says Sephora took the building from an empty
shell to a fully functioning distribution center in 20 weeks,
which is an amazing feat. The facility is now taking the pressure
off the company’s East Coast distribution center in Maryland and
helping ramp up for the holiday season. As a result, patrons of
Sephora beauty products west of the Mississippi can experience
more rapid service as well as more efficient and cost-effective
transportation. Sephora's new facility will also provide a
disaster recovery option for the company and ensure that its
supply is seamless during critical times. Julian adds that the
company is environmentally conscious and implemented green
lighting, sound reduction practices and temperature control
methods to the distribution center during its build-out.
Sephora clients are not the only ones to benefit from the new
distribution center. The company hired approximately 120 local
employees and Julian says another 130 or so will be working there
by year-end. Flaherty says Sephora will add e-commerce fulfillment
to the distribution center next year and expand its operations by
another 250 jobs. What’s more, the company is moving approximately
80 back-office jobs to Utah from its corporate headquarters in San
Francisco.
“We love Salt Lake City and Utah. Everyone on my team raves about
the place and the people. Some have already relocated to Utah,”
Flaherty says. “I want to express my appreciation and gratitude to
the many people in Salt Lake City and especially to EDCUtah, for
helping facilitate our move. We are quite please to be part of
this vibrant and wonderful city.”
EDCUTAH INVESTORS
Current Investors
Why Be an Investor?
Board
of Trustees |
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In The News
Economic Development Headlines from the Past Week
Silicon Slopes Initiative Aims to Make Utah the Next Silicon
Valley
- Most
people have heard of Silicon Valley and many have heard of Silicon
Alley and Silicon Forrest. But what about Silicon Slopes? Silicon
Slopes is an initiative, started and funded largely by Orem-based
Omniture, to bring attention to Utah’s high tech innovations and
companies. (Utah
Business Magazine)
Falcon Hill National Aerospace Research Park to Boost Utah’s
Economy
- Falcon
Hill National Aerospace Research Park got a final thumbs-up this
week, as Air Force officials and a private developer signed an
agreement to develop the research park. And that means jobs and
dollars for Utah’s economy; the development is expected to add more
than 15,000 high paying jobs and bring in a nearly a billion dollars
to the Beehive State.
(Utah
Business Magazine) (Standard
Examiner) (SL
Tribune) (Morning
News)
Utah’s Unemployment Up; Still Lower than National Rate
- Utah’s
unemployment rate rose to 3.5 percent last month, up from June’s 3.3
percent rate, according to a report released yesterday by the
Department of Workforce Services. Though increasing, the state’s
unemployment rate remains lower than the national rate, which is at
5.7 percent, up from 5.5 percent during June.
(Utah
Business Magazine)
U of U Receives $12 Million from Sorenson Legacy Foundation
- The
University of Utah announced that the Sorenson Legacy Foundation has
pledged $12 million to the university for the construction of an
interdisciplinary arts and education complex at its Salt Lake City
campus. It is the largest donation in support of fine arts or arts
and education in university history. (Utah
Business Magazine)
16 Companies Getting Funds from Rural-Aid Program
- The
legislation creating the Rural Fast Track Program passed the Utah
Legislature in early 2007. Beverly Evans, director of the Utah
Office of Rural Development, said the program now has 16 companies
that have received Industrial Assistance Fund grants to help them
hire employees or otherwise grow their businesses. (Morning
News)
Many New Businesses are Coming to the Downtown Area
- An
air-freshener distribution center, a kid's hair salon, a yoga studio
and a Dairy Queen, along with other well-known businesses, have the
city's business growth looking up in down economic times. (Standard
Examiner)
Times are Tough, but Utahns are Still Giving
- Utahns
are pinching their own pennies while pouring them into the hands of
others.
Despite dinged wallets due to high gas and food prices, Utah
residents are giving more to at least some charities. (Morning
News)
Great Salt Lake Still Eyed for Oil Rigs
- A
Canadian company isn't giving up on its hopes to drill for oil in
the Great Salt Lake near the Spiral Jetty art installation. Keith
Hill, president of Pearl Montana Exploration of Calgary, Alberta,
said in an e-mail to The Associated Press that the company is
addressing shortcomings in its previous applications and will
resubmit them as soon as possible. (Morning
News)
Officials Use Marketing, Incentives to Lure Businesses
-
Marketing has turned this dying railroad town into a nationally
recognized hub for outdoor recreation, attracting related businesses
that boost the local economy. "Ogden has gotten worldwide publicity
we couldn't have afforded," said David Harmer, Ogden director of
community and economic development. "The more publicity we get, the
more it sells people to come here." (Standard
Examiner)
Developer Pitches an International Gateway to WVC
-
Imagine 5600 West with an international twist. That's one
developer's vision for 33 acres that city leaders see as a gateway
to Utah's second largest city. (SL
Tribune)
Wasatch Cost of Living Catapults Past National Average
- Utahns,
who pay the third-highest gas prices in the country, also are
getting hammered by inflation in other areas, such as food,
utilities and rents. The cost of living along the Wasatch Front
jumped 1.1 percent from June to July - a huge increase in just one
month, Wells Fargo & Co. said Thursday. Nationally, consumer prices
went up just 0.8 percent, according to the Labor Department. (SL
Tribune)
Sugar House Project Gets Conditional OK
- The
start-and-stop demolition/construction project on the corner of 2100
South and Highland Drive in Sugar House can get started again. The
Salt Lake City Planning Commission unanimously voted Wednesday to
grant conditional approval for the 4 1/2-acre residential, retail
and office development proposed by Craig Mecham, allowing
construction to begin. (Morning
News)
Work on Station Park Gets Under Way
- $200M
center will have 6-story hotel, shops, restaurants. FARMINGTON — So
what if the earth movers, graders, steamrollers and front-end
loaders jumped the gun by a week? It's about time that developers
officially began work on Station Park, a mixed-use development on 62
acres right next to Farmington's FrontRunner station. (Morning
News)
CALENDAR
Sept. 4:
EDCUtah Annual Meeting, 11:30 a.m. (Grand America)
Sept. 8:
2nd Annual What's IN OUT Back Economic Summit and Golf Tournament
(Zermatt Resort/Homestead Resort & Golf Course)
Sept. 10: Blueprint Jordan River Open House, Utah Cultural
Celebration Center, 1355 West 3100 South, West Valley City and
Sept. 11 at Lehi Legacy Center, 123 North Center Street, Lehi or
the Gale Center, 10300 Beckstead Lane, South Jordan
Sept. 13-17: IAMC (Oklahoma)
Sept. 25:
What's Goin' Down Up North - Northern Utah Economic Summit,
9 a.m. - 3 p.m. (Utah State University Innovation Campus, North
Logan)
Registration form.
Sept. 30: Utah Chapter
NAIOP Survivor 2008 Bus Tour
Oct. 9-12: CoreNet (Orlando)
Oct. 21: 3rd Annual Procurement Symposium
Oct. 22: Quarterly Update
Dec. 17: Holiday Open House (EDCUtah)
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The EDCUTAH Economic Review is a weekly
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