Nov. 4, 2008

   A Publication of the Economic Development Corporation of Utah
CEO Jeff Edwards

President's Message

Delta, Northwest Airlines Merger Good News for Economic Development


Last week's announcement that the Delta/Northwest Airlines merger will indeed take place bodes well for Utah economic development in several ways. The merger secures the presence of Delta Airlines in this market, which is significant. Having a viable hub here is a massive draw for our economic growth. Northwest Airlines already has several flights out of Salt Lake International Airport and we hope to see even more, which in turn could mean more jobs.

The Delta/Northwest merger also opens up domestic and international gateways in specific geographic areas. For instance, Northwest already has strong schedules to the upper Midwestern United States and to Asia. This will be an asset as EDCUtah courts new business facilities to the State of Utah.

The merger is also important for the development of future aerospace maintenance facilities and operations in Salt Lake City and the state. Utah's growing aerospace cluster is essential to our economic development efforts. Recent wins in this area include Duncan Aviation, Jet Aviation and Million Air. Please note the news links regarding the merger in this issue and look for a full-length feature article on the Delta/Northwest merger in an upcoming issue of the Economic Review.

Our feature story this week focuses on the International Economic Development Council's annual conference, which was held in Atlanta in October. Our own Kim Lofgreen and Michael Flynn joined approximately 1,400 attendees from around the world for the four-day event. One of the keynote speakers at the conference was Dr. Arthur C. Nelson, director of metropolitan research at the University of Utah. Dr. Nelson is a Presidential Professor of City and Metropolitan Planning in the College of Architecture and Planning.

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

Feature

IEDC Conference Provides Insights into Economic Development Trends, Best Practices


In the global economy it is imperative to keep a finger on the pulse of the economic development industry, and there's no better place to do that than the International Economic Development Council (IEDC) annual conference—the world's largest gathering of economic developers and industry leaders.

This year's IEDC conference was held in October in Atlanta, GA and EDCUtah's Michael Flynn, vice president of public development, and Kim Lofgreen, vice president of marketing and communications, joined approximately 1,400 leaders from around the world for four days of high-powered workshops, roundtable discussions, networking events and keynote addresses.

"The annual IEDC conference is at the cutting-edge of economic development best practices," says Flynn, "and every time we attend we come back with new ideas."

"There isn't a better place to break down the current issues and new models essential for economic development," adds Lofgreen.

The conference focused on four tracks:

  1. Globility/Mobility
  2. Flexibility/Agility
  3. Livability
  4. Sustainability

Flynn says one of the highlights of the conference was the Site Selection Forum, where 20 site selectors representing different markets participated in a two-hour panel discussion/question and answer session. Some of the many topics discussed included the following:

  • Economic development trends
  • How cluster strategies are being used effectively
  • A look beneath the surface of the site selection industry
  • How to market to site selectors
  • The types of data important to the relocation process

Another highlight of the conference was the keynote address by Dr. Arthur C. Nelson, director of metropolitan research at the University of Utah. Dr. Nelson is the founding director of the Center for the New Metropolis at the U., where he is a Presidential Professor of City and Metropolitan Planning in the College of Architecture and Planning. His keynote address highlighted the trends in population growth and the fact that the U.S. is alone among industrialized nations in experiencing substantial population growth--only India will add 100 million people more quickly.

"Preparing for such accelerated growth requires a new approach to economic development, the provision of infrastructure, environmental sustainability, and workforce development. Economic developers will have to embody mobility, flexibility, agility and livability," according to Nelson.

As a leading scholar in urban and regional development planning, public facility finance, economic development, and metropolitan development patterns, Nelson's work has been sponsored by multiple national organizations and government agencies. His research and practice has led to 18 books and more than 200 other scholarly and professional publications.

Lofgreen says the keynote address by best-selling author Richard Florida was also enlightening. A leading public intellectual, Florida's address focused on "Who's Your City?" and discussed the rise of the "creative class," which he defines as a new breed of employees that live and work where they want.

"If you attract this group of employees economic development will take care of itself," according to Florida.

Lofgreen says the conference provided many "take-aways" and a few "Ah ha!" moments, but it generally substantiated many of the economic development initiatives EDCUtah has in place. A few of the many workshops in which Flynn and Lofgreen participated covered topics such as:

  • How workforces are changing
  • How incentive programs are becoming more progressive and flexible
  • How economic development boards are being utilized more effectively
  • Unique fundraising tools
  • Retail economic development strategies
  • Creative public/private financing
  • Immigration policy
  • Place branding
  • Distinguishing a community from the competition

Look for additional information from EDCUtah as Flynn and Lofgreen process the information they gathered at the conference and determine the best applications for Utah economic development efforts.

CALENDAR


Dec. 17: Holiday Open House (EDCUtah)

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In The News

Economic Development Headlines from the Past Week

Delta, Northwest airlines to merge -- and Salt Lake International to benefit

- Delta Air Lines has completed its $2.8 billion deal to acquire Northwest Airlines, creating the world's biggest carrier and setting up a new era for Delta's Salt Lake City airport hub that may include more overseas routes. (Salt Lake Tribune)

Utah cities rank high in best places to find a job

- Of the 30 best cities to find a job, Logan ranks third, Provo-Orem 11th, and Salt Lake City 15th, thanks to recent data from the Bureau of Labor Statistics. (MSN Careers)

Million Air-Provo announces completion of new aircraft hangar

- Million Air-Provo is pleased to announce the completion of a new aircraft hangar at their Provo Airport location. The new hangar will provide 15,000 square feet of additional storage space for general aviation aircraft and can accommodate aircraft up to the size of a Gulfstream G550. "We are extremely happy to be able to offer our customers this new state-of-the art facility," said Larry Mendenhall, manager, Million Air-Provo. (Utah Business Magazine registration required)

Bush administration pushing hard to open Utah lands to energy development

- The Bush administration is in its final push to open millions of acres in Utah and the West to energy development and along the way, critics warn, possibly destroy prospects for wilderness designation for thousands of acres of redrock desert. On Friday, the U.S. Bureau of Land Management will release five of six long-range management plans that will open 80 percent of 11 million acres in southern and eastern Utah to oil and gas drilling and designate 20,000 miles of motorized recreation routes. (Salt Lake Tribune)

Downtown Alliance gains a new leader

- A longtime communication manager for Utah nonprofit groups has been selected as the new executive director of the Downtown Alliance. Jason Mathis was introduced Thursday as the new head of the Downtown Alliance charged with working with local business and community leaders to promote downtown during a pivotal time in Salt Lake City's history.
(Deseret News) (Salt Lake Tribune) (KCPW)

Provo-based Delta 7 Sports makes its mark on mountain biking sport

- Delta 7 Sports is making its mark on the mountain biking sport with bicycle frames made of carbon-fiber and Kevlar lattice tubes. (Men's Journal) (Insider Sports) (Mountain Bike Action Review)

Mining excavator could bring 422 jobs

- Over the next decade, Cementation USA expects to develop enough business to employ 422 people at its new U.S. headquarters in Sandy. Fourteen now work at that office, formally dedicated Wednesday in a ceremony attended by representatives of the Governor's Office of Economic Development (GOED), which in June gave the company $3.3 million in tax credits payable over 10 years. (Salt Lake Tribune) (Deseret News) (Utah Business Magazine registration required)

Ogden economic director named

- An Ogden attorney who has advised businesses for years will now be trying to recruit more to Ogden. R. Scott Waterfall, 54, was named last week as the city's new director of community and economic development, replacing Dave Harmer, who is retiring.
(Salt Lake Tribune)

Utah's technology industry remains strong, CEO says

- Utah's technology industry suffered after the dot-com bubble burst earlier this decade, but the leader of Utah Technology Council doesn't see a sequel occurring, despite the recent economic downturn. (Deseret News)

Springdale honored by Forbes

- It may have been out of the blue, but certainly no surprise that Springdale was given the honor of one of the prettiest towns in the country by Forbes Traveler magazine. (The Spectrum)

Travelers have a new online tool to plan a possible trip to Utah

- Because most people use the Internet to explore vacation plans, the Utah Office of Tourism has launched an online tool to make it easier for potential visitors to get key information about the state. The "Adventure Planner" on its Web site, www.utah.travel, lets online visitors check for a variety of things they might want to do, and places they might want to stay or to eat, while traveling to one of three Utah regions (north, central or south) or to individual communities. (Salt Lake Tribune)

It's back: SLC to Mexico City by air

- AeroMexico, which had dropped its air route between Salt Lake City and Mexico City three years ago, is coming back. The airline will launch twice-weekly nonstop flights between Salt Lake City International Airport and Mexico's capital beginning Nov. 16, AeroMexico said Monday. (Salt Lake Tribune) (Utah Business Magazine registration required)

Ski resorts making final preparations for season

- Mother Nature is playing nice with the Wasatch Front for now, but ask anyone who likes to strap a pair of planks or a board to their feet, and they'll tell you winter isn't far away — even if it is expected to be about 70 degrees outside this weekend. But with scheduled openings only a few weeks away, most Utah ski resorts are busy making final preparations for the coming season. In fact, at Snowbird, the slopes already got a dusting of man-made snow as the resort made sure its equipment was in working order. (Deseret News)

Zions OK'd to get $1.4B from Treasury, to cut dividends

- With an impatient White House prodding banks to quit hoarding billions of dollars flowing into their vaults from Washington and start making more loans, Zions Bancorp has won preliminary approval to get a $1.4 billion infusion from the U.S. Treasury. (Salt Lake Tribune)

Contest set to inspire local entrepreneurs

- As the nationwide economic crisis dissuades many potential entrepreneurs, a group of local business organizations coordinated a competition designed to encourage the formation of technology-based business ventures in Southern Utah. The Southern Utah Concept to Company Contest, developed by Grow Utah Ventures, calls upon entrepreneurs and small business owners with grand ideas, but limited resources, to submit their proposals online in hopes of winning the top honor. (The Spectrum)

Superfund Cleanup Improves Recreation Along Jordan River

- The last cleanup project required for a segment of the Jordan River to be removed from the federal Superfund list begins this month. The Midvale riverbank stabilization project is exciting because it also will improve recreation opportunities in and along the river, according to EPA project manager Erna Waterman. (KCPW)

Grant helps employers train staff instead of laying workers off

- While jobs are scarce and unemployment is rising, state grants offered through the Department of Workforce Services can help employers train staff to stay competitive and avoid layoffs. (The Spectrum)

Public jobs are losing clout vs. private sector

- Government in Utah is shrinking as wages in the private sector increase rapidly - at least before the economic crisis hit. A new study released by the Center for Public Policy and Administration at the University of Utah shows that despite recent U.S. Census numbers showing the government is booming and government wages are skyrocketing, that isn't the case in the state. (Salt Lake Tribune)

'Body Worlds' exhibit marks 100,000 visitors

- By waiting a few more seconds--long enough to let her three family members through the turnstiles first at The Leonardo, Kettle's entrance became a bit of a historic occasion. She became the 100,000th visitor to the exhibition of human bodies and the halfway mark of the organizers' goal of 200,000 patrons by the time the exhibition closes Jan. 7. (Deseret News)