Business In Utah - 2022

Utah continues to be at the forefront of innovative and awe-inspiring economic opportunity initiatives. The state’s robust list of accolades is impressive, including being the bestmanaged state in America and the number one state for economic outlook and recovery.

Utah also maintains a AAA bond rating back to 1965, and all three rating organizations continue to classify Utah with a AAA bond rating.

Below, we’ve included a sampling of some of Utah’s recent recognitions.

# 1 Best State for GDP Growth

Forbes — August 2021

# 1 Best State for COVID-19 Performance

The Wall Street Journal — April 2022

# 1 Best State for the Middle Class

SmartAsset — April 2022

Best Economic Outlook

Utah ranked # 1 for the 14th year in a row

Rich States Poor States May 2021

Best Economy

Utah ranked as the nation’s # 1 Best Economy and #3 Best State Overall

U.S. News & World Report March 2021

Best-Performing Large Cities

# 1 = Provo-Orem

# 3 = Salt Lake City

# 13 = Ogden-Clearfield Milken Institute — March 2022

Best-Performing Small Cities

# 1 = Logan

#2 = St. George Milken Institute — March 2022

# 1 Best State Economy

WalletHub — June 2021

GOVERNOR’S LETTER

May 2022

This year marks the second year of the Cox-Henderson administration in Utah.

“My administration committed to several key initiatives when we took office last January, outlined in the One Utah Roadmap. The Roadmap focuses on six key priorities: economic opportunity, education, rural Utah, health, equity and opportunity.” The One Utah Roadmap is well underway, with key accomplishments in several areas, but our work is far from finished.

Last October, we released version two of the Roadmap, and in May this year, we’ll report on our first 500 days in office.

As the state’s top executive, working with my team, I’ve outlined a vision and identified essential principles to keep Utah moving forward. Utah is a state where residents are happy, safe, healthy, and prosperous. It’s a place where we can grow old surrounded by the people we love, living peaceably in the most beautiful state in America. We hope Utahns and others realize the good that comes from working on and accomplishing things together.

Spencer J. Cox Utah’s 18 th Governor

We believe that the following principles embody the Utah dream:

1. Everybody’s invited

2. We build upon a Utah formula that works, including:

a. Free enterprise

b. Hard work

c. Strong families

d. Limited government

e. Big-hearted communities

f. Compassion for those in need

g. Fiscal responsibility

3. No one will outwork us

4. Service is at our core

5. We listen and show empathy

Finally, I hope you can see from the examples set by members of Team Utah that we take seriously the opportunity to be more inclusive and welcoming. We’re working on policies that help close gaps and empower all Utahns — from every walk of life, in urban and rural communities — to thrive.

Utah welcomes individuals, families, organizations, and businesses to its communities. We have a unique quality of life in Utah, and we have a responsibility to be mindful stewards as we manage growth.

I have charged the Governor’s Office of Economic Opportunity to focus on just that: providing economic opportunity to all Utahns. Our future is bright as we collaborate and work diligently together.

I invite you to submit any economic development feedback or ideas to the team at business@utah.gov. We look forward to working with you and state lawmakers as we innovate, improve, and help Utahns live the Utah dream.

Sincerely,

Spencer J. Cox

Utah’s 18 th Governor

Hosted by Gov. Spencer J. Cox

In support of Gov. Cox’s One Utah Roadmap initiative, the annual Economic Summit, Global Forum, Energy Summit, and Rural Summit have combined to create the One Utah Summit. Gov. Cox hosts this business super-summit every spring and fall, alternating between locations in the north (#1UTspring) and south (#1UTfall) of the state.

The One Utah Summit is the state’s premier event for community leaders, executives, and decision-makers. The summit provides an ideal venue to gather tools for professional and personal success. It delivers exclusive insights into Utah’s accomplishments. It provides insights into how professionals can get involved and contribute to one of the nation’s most resource-rich states and bestperforming economies.

Gov. Cox also created the One Utah Summit series to provide a platform for engaging in policy conversations. Summit programming includes today’s hottest topics and highlights opportunities available to Utah businesses at home and abroad.

Summit attendees can participate in mainstage and breakout sessions with Utah’s top leaders and decision-makers from the business, government, energy, and academic communities. Individual presenters and panelists will share expertise on Utah’s current business and energy climate and explore critical topics about Utah’s growth and economic status, energy technology and innovation, global investment and partnerships, rural Utah success and development, and more.

Another highlight of each summit is support for Utah entrepreneurs. In the fall, the State Bank Business Challenge identifies high-potential early-stage businesses and distributes cash awards and in-kind prizes. In the spring, the summit features the Startup Pitch, an entrepreneur speed pitch challenge held in partnership with VentureCapital.org. Judges rank the best ideas, and the audience selects a people’s choice award recipient.

Could you or your business benefit from rubbing shoulders with the state’s elected officials, business owners and leaders, and company executives? Support and participate in the One Utah Summit.

Visit OneUtahSummit.com to learn more.

EXECUTIVE DIRECTOR’S LETTER

May 2022

The Utah economy has weathered the pandemic storm with flying colors by most measures. Of course Utah, like other places, is still grappling with the economic impacts and loss of life from COVID-19. We’ve prepared this digital magazine to help tell Utah’s complete economic story.

Utah continues to garner national recognition for economic strength, low unemployment, and a strong, prosperous middle class. Last year, U.S. News & World Report named our state as having the nation’s best economy and ranked us No. 3 best state overall. Forbes recognized Utah as No. 1 for GDP Growth. And Rich States Poor States ranked Utah No. 1 for the best economic outlook for the 14th consecutive year.

Beyond the rankings, Utahns enjoy a unique and high quality of life. Overall, we live in a safe, happy, and healthy state where Mother Nature plays favorites with our landscapes.

The strength of Utah’s economy also brings challenges. According to census data, we’re the country’s fastestgrowing state, reaching over 3.4 million residents by some estimates at the time of this publication. Because Utah is a desirable place to live and do business, the Governor’s Office of Economic Opportunity takes our role in planning for smart, strategic growth very seriously.

We must be guided by governmental policies that help preserve Utah’s strengths while building diverse, equitable, and inclusive communities. We need to protect our air quality, improve our water and transportation infrastructure, and help address a challenging housing shortage.

Dan Hemmert Executive Director, Governor’s Office of Economic Opportunity (Go Utah)

Our office is up to the challenge and continues to support Gov. Cox, Lt. Gov. Henderson, and other government leaders in all they’re doing to build an even better Utah for tomorrow.

As you read about economic initiatives and success stories in the 2022 Business In Utah magazine, please consider our office’s new purpose statement:

We are Go Utah — stewards of the world’s best economy and quality of life. We cultivate prosperity, future-proof Utah’s economy, and work with business at the speed of business.

If you’re not familiar with Utah’s business community, I invite you to come and see for yourself why so many have decided Utah is still the right place to live, work, visit, and play.

Sincerely,

Dan Hemmert Executive Director danhemmert@utah.gov

The Go Utah communications team prepared the 2022 Business In Utah magazine’s editorial content.

Pete Codella

Pete began working at Go Utah in August 2018. He holds an MBA from the University of Utah and a B.A. in communications from Brigham Young University. He’s the office’s associate managing director of communications and a member of the executive leadership team. He’s lived in Utah, Texas, New York, Wyoming, Idaho, and Nevada. He enjoys home improvement projects, cooking and baking, and occasionally performs at Hale Centre Theatre in Sandy. Pete and Vickey, his wife of 23 years, live in South Jordan with their two children and an aussiedoodle. linkedin.com/in/petecodella | @codella

Tony Young

Tony started at Go Utah in March 2017 as a communications specialist, where he worked in digital marketing and events. After a few years, he transitioned to media relations manager. Tony earned a Master of Professional Communication (MPC) from Westminster College and a B.S. in community health, with an emphasis in health services administration, from Utah Valley University. He currently resides in Layton with his wife and daughter and has a passion for fly fishing, hunting, snowmobiling, and music.

linkedin.com/in/ tonythomasyoung

Amy Steinbrech

Amy holds a Master of Professional Communication (MPC) from Westminster College and a B.A. from the University of Utah. Before joining Go Utah in December 2018, she was a freelance writer and worked as an account manager for a local public relations firm. Amy enjoys exploring Utah’s scenic outdoors, including hiking in the summer and snowshoeing in the winter. She lives in Sugarhouse with her loyal companion Scout, a seven-year-old-golden retriever.

linkedin.com/in/ amysteinbrech | @ amysteinbrech

Kaitlyn Clarke

Kaitlyn began working at Go Utah in September 2018 as a part-time intern, doing project management for the marketing and communications team. She transitioned to a fulltime role as a digital media specialist this past year.

Kaitlyn holds a certified user experience and interface design certification from the University of Utah and is working towards a B.S. from Weber State University in user experience design. Kaitlyn lives in Kaysville, Utah, with her family. linkedin.com/in/kaitlynclarke

Mike Racanelli

Mike joined Go Utah in May of 2021 as its senior creative lead. He holds a B.A. in graphic design and media management from Columbia College Chicago. A multimedia artist, Emmy® Awardwinning producer, writer, and published photographer, he’s spent more than 20 years working in the creative industry. New to the state, by way of Los Angeles and Chicago, he spends time painting, writing, hiking, and photographing the incredible landscapes of Utah. linkedin.com/in/ mikeracanelli

Credits

Business In Utah: is an official publication of the Utah Governor’s Office of Economic Opportunity

Editor

Creative Director

Contributing Editor

Staff Writers

Copy Editor

Pete Codella

Mike Racanelli

Amy Steinbrech

Tony Young

Kaitlyn Clarke

Frances Johnson

Designer Brian Milne

Go Utah

E xecutive Director

Dan Hemmert

Deputy Director Ben Hart

Managing Director of Business Services

Managing Director of Operations

Managing Director of Tourism & Film

Associate Managing Director of Communications

Director of Business Intelligence

Director of Compliance

Ryan Starks

Kori Ann Edwards

Vicki Varela

Pete Codella

Rebecca Brown

Director of Corporate Growth & Business Development

Director of Finance

Director of Immigration and New American Integration

Utah Immigration Assistance Center

Director of International Trade, Diplomacy & Protocol

Director of Pete Suazo Utah Athletic Commission

Jim Grover

Daniel Royal

Kamron Dalton

Natalie El-Deiry

Franz Kolb

Scott Bowler

Director of Procurement Technical Assistance Center Chuck Spence

Director of Talent Ready Utah

Director of Targeted Industries

Director of Utah Broadband Center

Director of Utah Film Commission

Director of Utah Innovation Center

Director of Utah Main Street Program

Director of Utah Office of Outdoor Recreation

Director of Utah Office of Regulatory Relief

Vic Hockett

Lance Soffe

Rebecca Dilg

Virginia Pearce

Linda Cabrales

Nan Anderson

Pitt Grewe

Dane Ishihara

GO UTAH SUPPORTS BUSINESSES THROUGHOUT THE STATE

The Business Services team focuses on e economic opportunities for all Utahns

Small businesses are at the heart of Utah’s thriving economy. The state is home to more than 313,000 small businesses, which comprise 99% of all Utah businesses.

Go Utah’s Business Services team provides resources to Utah’s small businesses through a Doing Business in Utah webpage and robust partnerships. This convenient webpage includes a list of questions and resources to help guide Utah small business owners. It helps small businesses get started in the right direction and provides them with critical advantages in today’s competitive marketplace.

“Small businesses have endured many challenges over the last few years, especially during the coronavirus pandemic,” says Ryan Starks, managing director of Go Utah’s Business Services team. “Our team is committed to providing access to valuable resources that give all Utah-based businesses assistance, training, financing options, and other tools that help them succeed.”

The Business Services team fosters partnerships with the Small Business Administration, which supports the Small Business Development Center (SBDC) network — a group of 15 centers across Utah that offer resources and counseling to assist small businesses and entrepreneurs at every stage of their business development. Resources include free consulting on business plans, marketing and leadership, e-commerce, finance, and sales.

Additionally, the Go Utah Business Services team compiled a list of statewide business resources that serves as a onestop-shop for Utah-based companies. This information is available on the Business Services webpage and provides valuable information, links, and resources for Utah’s small business owners and entrepreneurs.

The Go Utah Business Services team also has resources specific to different business types. For small businesses just getting started there are resources including legal, accounting, or marketing help, or taking products or services to a global audience. Resources for women entrepreneurs include the Women’s Business Center (WBC).

Go Utah is proud to support Utah’s small businesses and works to empower entrepreneurs.

For Nearly 150 Years Zions Bank Has Been PROUD TO CALL UTAH “HOME.”

We understand the vital role that businesses play in creating a strong local economy. And we’re excited to be part of that.

Whether we are investing in small business start-ups, helping successful businesses expand, or supporting the arts and education, Zions Bank will always remain an active participant in improving the quality of life in our communities.

GO UTAH PROVIDES PROGRAMS AND RESOURCES FOR RURAL COMMUNITIES

Enhancing economic opportunities

The Center for Rural Development, a Governor’s Office of Economic Opportunity initiative, works with businesses in rural counties to provide resources and programs to sustain business and improve employment opportunities. The center collaborates with local government entities to connect and empower entrepreneurs and businesses.

“Our office remains committed to fulfilling Gov. Cox’s One Utah Roadmap strategic priorities, including ‘Rural Matters,’” said Ryan Starks, managing director of Business Services in the Economic Opportunity office. “All Utah residents should have opportunities for business success, no matter their geographic location, and our Center for Rural Development connects those possibilities.”

The center’s mission is to foster a healthy and diverse rural ecosystem by connecting rural businesses and communities with state and federal resources and programs. With 24 of Utah’s 29 counties classified as rural, Go Utah’s Center for Rural Development embraces its mission to support these locations as they address future economic development planning and implementation.

Rural County Economic Development

One of the center’s most successful programs is the Rural County Grant program. This program empowers rural county governments to take ownership of for their economic development planning, projects, and activities. First, counties identify business development needs, including recruitment, workforce training, and facility improvements. Then, in cooperation with each county’s economic development advisory board, planners, community development professionals, and elected officials, they mobilize to address needs.

“The Utah Rural Grant program is proving to be extremely helpful, as it brings together a local committee to create goals and projects that have an immediate impact on their communities’ unique economic development needs,” said Danny Stewart, economic development director for Iron County.

The center administers $4.8 million per year in upfront grants and another $1.75 million in grants under a competitive application through the Rural County Grant Program.

Job Creation Incentives and Remote Work

The center has managed other grant projects to help grow rural economies. Two of those grants, the Rural Economic Development Incentive Grant (REDI) and the Rural Coworking and Innovation Center Grant (RCIC), have produced impressive results.

Rural Economic Development Incentive Grant (REDI)

The mission of the REDI Grant is to economically unite Utah, helping companies statewide build a quality workforce in rural Utah. The grant awards $4,000 to $6,000 per position to companies willing to create new high-paying jobs in most rural Utah counties. These jobs can be remote, in a satellite hub or office, or physically located in the same rural county as the company.

In Fiscal Year 2021, 26 businesses applied for the grant. It’s projected that these companies will create 114 new high-paying rural jobs. In the 2022 fiscal year, applications are on track to exceed all previous years’ outcomes.

One REDI Grant recipient noted, “The support of REDI, and the state of Utah, was very influential in helping us decide to maintain our headquarters in Carbon County. This program helped continue to spin the flywheel of growth and add more jobs to the local community.”

Rural Coworking and Innovation Center Grant (RCIC)

The purpose of the RCIC is to help create facilities that provide individuals working within designated rural areas with the infrastructure and equipment they need to participate in the online workforce. Qualifying activities of this grant include construction or renovation of a facility, extending or improving utilities and broadband service connections, and purchasing equipment, furniture, and security systems.

Fifteen coworking centers are open or under development, from Blanding to Panguitch and Price to Moab. The Vernal Innovation Hub, housed in a remodeled municipal building, has seen exceptional growth and success. The Innovation Hub houses coworking spaces, conference rooms, and private offices that help support new startup businesses.

“The Hub is very busy and increasing in use and popularity. All nine offices are full with a waitlist of four,” said Quinn Bennion, city administrator for Vernal. “There are now 35 dues-paying members at the Hub.”

With the assistance of a full-time manager, the Innovation Hub is facilitating local business meetings, networking opportunities, and business training sessions.

Rural Business Expansion

The Center for Rural Development also collaborates with Go Utah’s Corporate Retention and Recruitment team to identify companies that may grow in rural parts of the state.

Corporate Retention & Recruitment Incentives

Incentives are available to select companies that create new, high-paying jobs that improve quality of life, increase the tax base, and help diversify the state’s economy.

The Rural Economic Development Tax Increment Financing (REDTIF) program helps companies begin or expand operations in rural Utah. In counties classified as third-class, the program is a post-performance, refundable tax credit rebate of up to 50% of new state revenues (sales, corporate, and withholding taxes paid to the state) over the life of the project (up to 20 years, but typically 5-10 years). In fourth-, fifth-, and sixth-class counties, qualifying companies receive a rebate of 50% of new state revenues.

UTAH SEES SUCCESS IN CORPORATE RECRUITMENT EFFORTS

The Governor’s Office of Economic Opportunity changed more than just its name. It also become more intentional than ever in our corporate recruitment efforts. Last year, revisions to Utah’s flagship corporate recruitment program (known as EDTIF) brought unprecedented opportunities to rural communities. This year, the office is raising the bar by focusing on five targeted industries—advanced manufacturing, aerospace and defense, financial services, life sciences and healthcare, and software and information technology (IT).

Rural Utah

Recognizing the unique challenges in rural communities, the office implemented rural modifications to the Economic Development Tax Increment Financing (EDTIF) program. These changes, dubbed “REDTIF,” increased the tax incentive available to companies growing in rural counties from a maximum of 30% to 50% of the new state tax revenue, as well as reducing the minimum required wage to 100% of the average county wage.

As a result, opportunities in rural Utah have exploded. In the six months since REDTIF’s implementation, the state has seen more EDTIF deals in rural Utah than in any other year. Since July 2021, the program has added over 5,000 new highpaying jobs in rural communities, over $4 billion in new rural state wages, and $937 million in capital investment. These results are greater than the preceding four years of successes in rural Utah combined.

Major wins in rural Utah include:

Owens Corning: In July 2021—the first month of REDTIF’s implementation—Owens Corning announced that it would be expanding its facility in Nephi, Utah. The project will bring an additional 70 high-paying jobs to the community, along with an estimated $52.5 million in capital investment.

Cytiva: It’s no secret that life sciences are booming in Utah, and this growth is occurring both on and off the Wasatch Front. Last fall, Cytiva announced that it will be expanding its facility in Logan, Utah. Cytiva delivers life-altering healthcare technologies across the world. Cytiva’s expansion is expected to bring in nearly 400 new high-paying jobs, $231 million in capital investment, and $147 million in new state wages.

Now more than ever, rural Utah has become a premier place to do business.

Targeted approach

Go Utah has been hard at work finessing what it does in Utah’s bustling cities. It’s no longer enough to bring just any jobs to Utah. It’s clear we need to bring the right jobs, with the right wages, and in sectors positioned to secure Utah’s future.

With that goal, the office focuses on five strategic targeted industries:

advanced manufacturing, aerospace and defense, financial services, life sciences and healthcare, and software and IT. Moving forward, companies in urban Utah must fall into one of these sectors to be eligible for an EDTIF incentive. By focusing on these key industries, the office promotes highpaying jobs for Utahns, creates a stronger cluster environment, and attracts future opportunities to the state.

G

GO UTAH BOARD

The Go Utah Board — identified in H.B. 348 as the Business and Economic Development Subcommittee of the Unified Economic Opportunity Commission — includes 15 members appointed to four-year terms by Gov. Cox with the state Senate’s advice and consent. No more than eight members are from one political party, and all members represent diverse state regions.

Board Members

Carine Clark, Board Chair General Partner, Pelion Venture Partners

Tanner Ainge Managing Partner, Banner Ventures

Stefanie Bevans CEO & Owner, Design to Print

Brad Bonham CEO, Walker Edison

Heather Kahlert Executive Vice President, The Kahlert Foundation

Roger Killpack Owner, Service Drug

Annette Meier President & COO, Superior Drilling Products

Andrea Moss President & CEO, Nelnet Bank

The board promotes and encourages economic opportunity for all Utahns as well as the state’s commercial, financial, industrial, agricultural, and civic welfare. Board members also advise Go Utah staff on developing, attracting, retaining, and expanding Utah’s businesses, industries, and commerce.

Doug Dilley General Manager Commercial Flight Controls Division , Parker Aerospace

Geri Gamber Executive Director, Southeastern Utah Association of Local Government

Susan Johnson CEO Emeritus, Futura Industries

Steve Neeleman, Incentives Committee Chair, Founder & Vice Chairman, HealthEquity

Kira Slawson Attorney, Blackburn & Stoll, LC

Jesse Turley Managing Director, Bank of America Private Bank

Brigham Tomco Co-founder & CEO, Emmersion

UNIFIED ECONOMIC OPPORTUNITY COMMISSION’S BANNER FIRST YEAR

By Kyle Palmer, Associate Director for the Unified Economic Opportunity Commission

In the Utah Legislature’s 2021 general session, Representative Tim Hawkes and Senator Ann Millner worked together with Gov. Spencer Cox and Go Utah Executive Director Dan Hemmert to create a new vision for economic development in the state. That vision was outlined in House Bill 348, which made several changes to economic policy and established something entirely new — the Unified Economic Opportunity Commission

The motivation behind the commission’s creation lies in its name: to take a unified approach to foster economic opportunity for all Utahns. Chaired by Gov. Cox, the commission began its work in July. Its membership includes Senate President Stuart Adams, House Speaker Brad Wilson, Go Utah’s Executive Director Dan Hemmert, and other executive branch and private partner leaders. The breadth of the commission’s membership signals a unified approach to expanding economic opportunity throughout the state.

Beyond the top-level commission are seven subcommittees and working groups led by dozens of Utah leaders, all tasked with tackling different aspects of the state’s economy. These leaders include legislators, local government officials, private stakeholders, and more. The groups include:

 Subcommittee on Business and Economic Development

 Subcommittee on Talent, Education, and Industry Alignment

 Working group on Rural Economic Growth

 Working group on Sustainable Community Growth

 Working group on Multicultural Economic Empowerment

 Working group on International Relations, Trade, and Immigration

 Working group on Small Business and Entrepreneurship

Together, these groups have made dozens of recommendations to the commission. And, the commission has already acted on many of its subcommittee and working group recommendations, paving the way for future legislative action.

Working together, Utah’s executive and legislative branches and private stakeholders are paving the way for a more strategic approach to economic development in Utah.

As the fastest-growing state in the country, growth isn’t enough. The commission plans to make the most of opportunities through good, accountable public policy that paves the way to more economic and other opportunities for all Utahns.

Utah Business and Utah Students: TEAMING UP FOR TOMORROW

Utah Adopt-A-School unites boardrooms with classrooms, and workplaces with learning places. We’re connecting Utah businesses with Utah schools, for a partnership that will impact Utah now and for years to come.

UTAH ADOPT-A-SCHOOL

A Gov. Cox initiative to help businesses support education and workforce development

In December 2021, Utah’s unemployment rate was at 1.9%, the lowest in its history. Though this points to economic stability, it also creates some economic hardships. Utah is facing its most significant labor shortage, with 75,000 jobs in the state unfilled across all industries

But there is a silver lining. The growing need for skilled and talented labor presents an opportunity for state agencies, education systems and industry leaders to work collectively to develop effective workforce solutions that close the talent gap and support a strong economy.

In February, Gov. Cox announced Utah’s Adopt-A-School program, inviting Utah businesses to invest and engage in student learning in K-12 schools statewide. Utah’s Adopt-A-School program will contribute to developing a skilled labor force while growing Utah’s talent pool. Additionally, the program will help address equitable access to opportunities for all Utah students.

This new statewide initiative will connect businesses to schools where goals, resources, and needs align. Overseen by Talent Ready Utah and powered by the Governor’s Office of Economic Opportunity, Utah Adopt-A-School promotes increased collaboration around established frameworks. The program facilitates student success and advocates for agencies, nonprofits, foundations, and businesses whose benchmark partnerships set the stage for potential collaborations and measurable impacts statewide.

As the state’s labor market continues to tighten, we acknowledge the talent pipeline begins with young students as early as kindergarten. Multiple factors influence a child’s success in the classroom, including access to future education and employment opportunities. For Utah businesses seeking to diversify their workforce and grow their talent pool, it’s imperative to invest in the future of Utah’s youth.

Real-world experience is critical to effective learning. Experiences that provide students a space to engage, interact, and discover help them learn in practical terms. Often referred to as work-based learning, these opportunities allow students to connect with businesses, discover their own talents and interests, and grow in skill sets and knowledge. Employers can create a space to mentor and prepare students for future education and employment opportunities through hands-on learning while generating a pool of interest and talent to meet workforce needs.

Other ways Utah businesses can support youth include access to food, shelter, healthcare, internet, electronic equipment, transportation, mentorship, and more. All Utah students should have their basic needs met, regardless of socioeconomic status and without creating and reinforcing unequal access to opportunities.

With a community focus around removing barriers that prevent success in education and connecting classroom learning to the real world, we can begin to close the talent gap in Utah’s labor force, increase workforce diversity, and lift individuals and families from difficult socioeconomic circumstances. By supporting enhanced learning and ensuring students have access to the necessities they’re entitled to, businesses around the state can create pathways that lead all students to rewarding and sustainable futures.

To learn more about Utah Adopt-A-School, visit UtahAdoptASchool.org

GOVERNMENT CONTRACTING WITH UTAH PTAC

Utah — along with the rest of the world — has been feeling the effects of supply chain disruptions. These delays and disruptions caused by the pandemic have demonstrated the need for a more robust supply chain for goods and services. Both private industry and federal agencies need to expand their supply chain by partnering with businesses that offer new, innovative, state-of-the-art products and services.

Many Utah companies offer these products and services, but they overlook the government marketplace because getting into the federal procurement supply chain can be cumbersome and challenging.

Unless, that is, you have help from the Procurement Technical Assistance Center (PTAC).

“With an experienced, savvy staff, PTAC can be the bridge between government and industry,” says Chuck Spence, director of the statewide PTAC program. “PTAC has goals, negotiated with the U.S. Department of Defense each year, to bring new business partners into the federal, state, and local government supply chain.”

PTAC provides a host of services designed to help companies become part of that supply chain. To take advantage of PTAC’s no-cost services, visit its website at business.utah.gov/ptac.

Following are some recent changes to government procurement cybersecurity, registrations, and disadvantaged business certifications:

Cybersecurity Update

On Nov. 4, 2021, the DoD announced several changes to the Cybersecurity Maturity Model Certification program. Although the program’s overall focus remains on safeguarding sensitive unclassified information, CMMC 2.0 includes several important differences from the original program that simplify the approach and reduce paperwork.

At the Department of Defense level, the DFARS clauses 252.204-7012, 7019, and 7020 for safeguarding controlled unclassified information residing on or passing through a contractor’s system will remain in contracts.

Unique Entity Identifier

By April of 2022, the federal government will stop using the DUNS number as a unique entity identifier (UEI). After that point, entities doing business with the federal government will use a UEI created in SAM.gov, rather than going through a third-party website. Current SAM.gov registrants have already been assigned their Unique Entity Identifier and can view it within SAM.gov

Women-Owned Small Business and Economically Disadvantaged Women-Owned Small Business

Updates to the Small Business Administration (SBA) regulations make it easier for qualified small businesses to participate in the Women-Owned Small Business (WOSB) Federal Contracting program. The updated WOSB federal contracting program regulations were published in the Federal Register in May 2020. They include:

 SBA’s new, free online certification process for WOSBs and EDWOSBs is live at certify.sba.gov

 SBA allows continued participation from businesses that utilize approved Third-Party Certifiers (TPCs) to obtain WOSB or Economically Disadvantaged WomenOwned Small Business certification

 If you had contracts through the WOSB Federal Contracting Program when the changes went into effect, you will remain certified through the duration of your existing contracts (whether you were previously self-certified or TPC-certified)

 All WOSB firms need to take action in certify.sba.gov to compete for WOSB Federal Contracting Program set-aside contracts (based on specifics in the following sections based on your status)

Veteran-Owned Small Business Update

The VA’s Center for Verification and Evaluation (CVE) will be transferred to SBA effective Jan. 1, 2023. There is no immediate action required for owners of veteran-owned small businesses (VOSBs) or service-disabled veteran-owned small businesses (SDVOSBs). The 2021 National Defense Authorization Act permits self-certified SDVOSBs up to one year after the transfer to remain self-certified. VOSBs or SDVOSBs verified by the VA at the time of the transfer will not lose their status. Both agencies will keep all stakeholders, including VOSBs and SDVOSBs, updated on the new CVE processes.

TALENT READY UTAH

A workforce initiative of the Governor’s Office of Economic Opportunity, Talent Ready Utah optimizes efforts made by education and industry partnerships, working collectively to build a highly-skilled workforce while providing students with increased career and education opportunities. Below are some of the programs designed to support that mission.

The Utah Adopt-A-School initiative unites boardrooms with classrooms, and workplaces with learning places. It connects Utah’s businesses with Utah’s students, for a partnership that will impact Utah now and for years to come.

Community partnerships with Utah’s education system ensure the collective success of communities, industries, and individuals in this inclusive, proactive industry-with-education approach.

The Talent Ready Apprenticeship Connection (TRAC) is an industry-recognized apprenticeship program, adopted from the Swiss apprenticeship model, that provides students opportunities to earn while they learn.

Listen to this Business Elevated podcast to learn more about the TRAC program: qrco.de/tru-trac

TRAC’s first program launched in 2019, a partnership with Stadler Rail, Salt Lake Community College, and Salt Lake City School District. Students who enroll in this apprenticeship program starting as high school seniors can finish school with a high school degree and an associate of applied science (AAS) degree in advanced manufacturing. This first TRAC cohort will finish the program in summer 2022.

Last year, Stadler Rail employed 29 apprentices in the TRAC program. One apprentice even traveled to Washington, D.C. to talk about their apprenticeship experience with Swiss President Guy Parmelin, First Lady Jill Biden, and several other U.S. and Swiss government officials.

In partnership with Salt Lake Community College, Talent Ready Utah is developing additional TRAC apprenticeships for the medical device and life sciences industries. Talent Ready Utah has also engaged the aerospace and defense industry in Northern Utah to create a program

that would provide apprentices with composites fabrication, aerospace assembly, and machining skills — all skills the sector desperately needs.

Through the Utah Works program, Talent Ready Utah partners with the Utah System of Higher Education to design pre-employment, short-term training programs that prepare participants to fill in-demand jobs with specific industry skill sets. Between the three partnerships established with Davis Technical College, Ogden Weber Technical College, and SLCC, the Utah Works program has trained and placed 418 individuals in jobs with participating aerospace and defense, commuter rail, medical device, thermoforming, and advanced manufacturing companies.

The Utah Works program also provided the framework for the recent Learn & Work In Utah initiative, a program requested by the state Legislature in response to the workforce impacts of COVID-19. Learn & Work In Utah received federal CARES Act funds to provide 300 short-term certification and creditbased training programs that increased access to sustainable employment for displaced workers. Tuition assistance has been extended to 5,456 students for Learn & Work programs in the business, information technology, energy, construction, manufacturing, and healthcare sectors. An additional 5,550 students are receiving training in 2022.

Talent Ready Utah continues to work closely with industry partners across the state to identify short-term and longterm workforce strategies for Utah’s growing economy. The initiative partners with the Utah System of Higher Education, Utah State Board of Education, Utah Department of Workforce Services, and many other stakeholders to deliver high-quality training programs that help fill talent pipelines throughout Utah.

To learn more, visit business.utah.gov/tru

SPOTLIGHT ON UTAH’S FILM INDUSTRY

The demand for “something to watch” has skyrocketed over the past two years. Even before the pandemic forced many of us to spend more time at home, the increasing number of streaming platforms created a noticeable uptick in the number of films and television shows being produced.

According to a new Variety report, U.S. media and entertainment companies spent more than $120 billion on original content in 2019. Disney led the way, with nearly $28 billion invested in content across their studios and networks.

The film industry is a key economic driver in Utah’s diverse economy. Utah’s film incentive generated $669.1 million in economic impact over the last five years. Nearly half was from direct spending in the industry, while the additional $360 million was generated by downstream revenue to local vendors and small businesses.

Film and television production operates as a specialized manufacturing activity and requires a highly-skilled workforce. It can also deliver immediate economic impact in urban and rural communities. The film industry proved exceptionally resilient during the COVID-19 pandemic, especially in Utah, where local crews adapted to changing health and safety guidelines and pushed innovations to get back to work.

Photo courtesy of Sony Pictures Classics

“The past three years have been a time of incredible growth in Utah’s film industry with a total spend of $194 million by productions and $68 million of that spent in rural Utah,” said Virginia Pearce, director of the Utah Film Commission. “The dollars spent by these companies go directly to the residents of our communities. On average, productions spend between $100,000 and $250,000 per day, and many of them film during the off-season, keeping hotels and restaurants and the people that work there busy.”

In the past year, 18 films and 14 television series — with a combined production budget of $189 million — have made inquiries about filming in Utah. There are several reasons Utah is attractive to the film industry, including a wide variety of locations, professional crew and support services, and proximity to the Los Angeles decision-makers and talent base.

The film industry also exports well. Utah’s locations often become a major character in films and television series. Paramount Network’s Yellowstone showcases the mountains of Summit and Wasatch counties and the latest Disney+ series celebrates the High School Musical franchise that features the backdrop of Salt Lake City. Recent studies show that four in 10 tourists chose Utah as a vacation destination because our unique landscapes were featured on-screen. This “Film Tourism” has delivered 2.2 million Utah trips and $6 billion in value for the state over the past decade.

Not only does Utah have the landscapes to attract business and tourism, it’s also home to the annual Sundance Film Festival that inspires global audiences and attracts approximately 100,000 attendees each year. Over the past 40 years, the Sundance Film Festival and Sundance Institute have brought thousands of filmmakers and film lovers to the Wasatch mountains and helped to showcase America’s Film Set® to audiences around the world.

Photo courtesy of Cam McLeod for Paramount Network

Photo courtesy of Craig Sjodin/Disney+

UTAH IMMIGRATION ASSISTANCE CENTER

Helping businesses and individuals navigate foreign labor programs

Formed in 2021, Go Utah’s Immigration Assistance Center is a one-stop resource for individuals and businesses seeking immigration guidance and information on Utah’s foreign labor rules and regulations.

A decade of unprecedented growth in the state has led to tremendous opportunities for small business owners to expand, creating a need for talent and skills not always available locally. This can often lead businesses to search abroad for staff members with specific skills.

“Hiring foreign-based workers is not a simple process, and businesses inevitably find themselves navigating the process of getting qualified workers into the United States,” said Ryan Starks, Go Utah’s managing director of Business Services.

The center coordinates with several state, federal and nonprofit entities, including Catholic Community Services, Immigrant Legal Services, Suazo Business Center, The Church of Jesus Christ of Latter-day Saints, and others.

Nick Witham, a biomedical engineering Ph.D. student at the University of Utah, founded GAIA Technologies with a goal to change lives through better prosthetics.

Realize Anything

No two problems are alike. Neither are their answers. Each requires a point of view. A new angle. Together, we’ll look for an integrated solution, guided by data and insights. We’ll gain a deep understanding of your business, and consider every part of your commercial real estate strategy, so you can realize anything.

UTAH COMPANIES LEAD THE WAY IN INNOVATIVE AND LIFE-ALTERING TECHNOLOGIES

Entrepreneurship and innovation are thriving in Utah’s science and technology sector. From robotic arms and imaging to improving surgery outcomes to technology that can produce oxygen on Mars, Utah’s tech community is making an impact.

The Utah Innovation Center, part of the Governor’s Office of Economic Opportunity, works with Utah-based small businesses to provide funding to develop these groundbreaking technologies. It provides training and direct proposal assistance to companies applying for grants and contracts through the federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. The center has a win rate almost double the national average. It’s a proud recipient of the Tibbets Award presented by the Small Business Administration to organizations that significantly impact this arena.

These two companies are a testament to the value of this support for companies producing cutting-edge technology in Utah.

nView medical

nView medical, a start-up based in Salt Lake City, makes surgery safer, faster, and consistently more accurate. nView’s insta-3D™ imaging technology provides surgeons with better visualization, improving patient care and outcomes for surgery and interventional radiology.

nView’s imaging system is FDA cleared and features the unique ability to capture 3D images with very low-dose radiation. This approach makes the 3D images available throughout surgery, enabling real-time visualization. The system has GPS-like technology that uses the true representation of the anatomy as maps, and artificial intelligence technology to augment the surgeon’s understanding of the procedure.

“The collaboration with our pilot sites has been extremely valuable to confirm the value proposition of nView’s breakthrough imaging technology,” said Cristian Atria, nView’s founder and CEO. “The level of equipment utilization by many surgeons and now across multiple applications signals the broad applicability of this technology and its ease of adoption.”

A surgical team using nView’s Imaging System to perform surgery

This breakthrough medical imaging technology was used for the first time in 2020, during a surgery performed at Children’s National Hospital in Washington, D.C. Since then, the technology has been used by 13 surgeons across four hospitals in more than 70 cases in pediatric spine deformity, orthopedics, and lung biopsies. In early 2022, the company commercialized its first imaging system and is ramping up production to support further commercialization.

OxEon Energy

Another Utah homegrown business, OxEon Energy, is working to disrupt energy markets worldwide through revolutionary energy conversion and storage methods. The company collaborated with NASA to develop an instrument named MOXIE for the Perseverance rover, which successfully landed on Mars last year. This is NASA’s first major return to Mars since the Curiosity rover landed in 2011.

Both nView and OxEon leveraged federal non-dilutive funding through the SBIR/STTR programs. These programs provide $4 billion annually to U.S. small businesses to research and develop innovative technologies that demonstrate a strong market need and provide substantial benefits.

NASA’s Perseverance Rover with MOXIE getting installed

OxEon’s Mars Oxygen ISRU (In Situ Resource Utilization) Experiment, known as MOXIE, provides the Perseverance rover with oxygen production by solid oxide electrolysis of Mars atmosphere CO2. MOXIE’s capability to withstand shock, vibe, and compression was vital as it spent eight months hurtling through space before the rover landed near the Jezero Crater on Mars on Feb. 18, 2021.

“MOXIE shows the durability and reliability of OxEon’s SOEC technology,” said OxEon’s CEO, Lyman Frost. “OxEon is working with the MOXIE team, including the Massachusetts Institute of Technology and Jet Propulsion Laboratory, to learn from the continuing operation of MOXIE on Mars. NASA indicated its satisfaction with OxEon’s technology by placing a follow-on contract with OxEon, where OxEon will be producing hydrocarbon fuel from water, carbon dioxide, and electricity on Mars in addition to the oxygen produced by MOXIE.”

NASA’s Perseverance Rover

UTAH MAIN STREET PROGRAM

Revitalizing communities

The Utah Main Street Program (UMSP) helps communities revitalize the economy, appearance, and image of their downtown commercial districts. It does this by guiding communities as they build a strategy centered around their unique heritage and attributes.

UMSP is a new coordinating program affiliated with the National Main Street Center. For the past 40 years, this group (a subsidiary of the National Trust for Historic Preservation) has provided a framework, process, and resources to support the revitalization of community downtowns and commercial districts across the nation.

The Utah Main Street Program provides designated communities with project planning, business counseling, training, long-term business strategic planning, access to placemaking grants, and a host of other valuable resources.

“We’re thrilled to be a part of this program that provides a framework and resources to support a community’s unique heritage,” said Nan Anderson, director of the Utah Main Street Program and rural outreach manager in the Governor’s

Office of Economic Opportunity. “This program honors what makes a community different and focuses on what makes it a great place to live and visit.”

The Utah Legislature created and funded the UMSP in the general session of 2021. In the fall of 2021, interested Utah communities applied for designation from the UMSP, and 16 received Tier 1 or 2 designations, with varying community requirements and time frames:

 Brigham City – Tier 2

 Cedar City – Tier 2

 Gunnison – Tier 1

 Granary District (SLC) – Tier 1

 Heber City – Tier 1

 Helper – Tier 2

 Kaysville – Tier 1

 Magna – Tier 1

 Midtown (SLC) – Tier 1

 Mt. Pleasant –Tier 2

 Ogden – Tier 2

 Parowan – Tier 1

 Price – Tier 2

 Richfield – Tier 1

 Salina – Tier 1

 Tooele City – Tier 2

Partner organizations supporting the Utah Main Street Program include Preservation Utah, the State Historic Preservation Office, Utah Community Development Office, Utah Department of Cultural & Community Engagement, Utah Department of Transportation, Utah Office of Tourism, and the pilot communities of Brigham City and Price.

“The Utah Main Street Program is the perfect blend of preservation-based economics and community engagement,” said Kelsey Maas, associate director of Preservation Utah. “Utah is home to vibrant communities, each with unique and rich architectural history. The Main Street Program provides the necessary support to local communities that utilizes the existing historic fabric of its downtowns while also maximizing people-centered spaces, economic growth and vitality, and community involvement.”

The UMSP reports its progress to the National Main Street Center and the Utah Legislature. The program’s success metrics include full- and part-time jobs created, new businesses, rehabilitation projects completed, and decreased downtown vacancies.

To learn more, please get in touch with Nan Anderson, Utah Main Street Program director, Governor’s Office of Economic Opportunity, at nanderson@utah.gov.

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REGIONAL IMPACT

From developing cancer treatments to advancing America’s energy independence, our researchers are working with Utah‘s best minds to solve some of the world’s most important science and engineering challenges.

OUTDOOR RECREATION IS THE BEST CORPORATE BENEFIT

By India Nielsen Barfuss , Program Manager for the Utah Office of Outdoor Recreation

When companies think of the benefits they want to offer employees, outdoor recreation should be at the top of the list. If you want happy – and productive – employees, encourage them to spend time outside, or better yet, make it easier for them to spend time on trails and other natural spaces.

Physical & Mental Wellbeing, Creativity, & Productivity

Nature can boost employee productivity and creativity, according to research conducted by Dr. David Strayer at the University of Utah. Simply being in a park for 20 minutes can improve a person’s mental health, and the American Heart Association found that for every $1 invested in building trails, there is a direct correlation to $3 of saved medical costs. Helping your employees live healthy and happy lives benefits everyone – including your insurance plan.

Utahns Want Outdoor Benefits

If the health research isn’t enough to convince you, take a look at what Utahns are saying. A recent Kem C. Gardner Policy Institute and Utah Outdoor Partners study asked tech sector employees why they chose to move to Utah or stay in Utah. The report found that access to outdoor recreation and wilderness was at the top of the list, even above family, career opportunities, and cost of living.

This sentiment extends beyond the tech sector. Employees across all sectors prefer employers who value and appreciate outdoor recreation – and provide it as a benefit. Favorite perks that Utah employees listed in the 2021 Utah Business “Best Companies To Work For” survey included ski passes, national parks passes, and other wellness benefits such as an on-site bouldering wall.

What Should You Do?

Business leaders can help improve Utah’s quality of life by contributing to efforts that maintain, preserve, and build access to outdoor spaces. Companies can find partners and support organizations with the mission to improve access to outdoor recreation, and encourage employees to get involved. Your business can even incentivize employees to set aside time for volunteering. They may find a new passion for the outdoors or a new community of friends, and they will certainly reap the physical and mental wellness benefits of being outdoors.

The next time you’re evaluating how to thank your employees or improve your benefits package, it could be as simple as giving your employees the resources, time, or access to be outside.

UTAH OFFICE OF REGULATORY RELIEF

H.B. 217 passed during the 2021 legislative session, created the Utah Office of Regulatory Relief — the nation’s first office of its kind. The office is housed under the Governor’s Office of Economic Opportunity. Its directive is to create a framework for analyzing risk levels to Utah consumers related to health, safety, and financial well-being. The framework will consider permanently removing or temporarily waiving laws and regulations that inhibit the creation of new companies or limit the success of existing companies and industries.

Go Utah’s Office of Regulatory Relief has two objectives:

1 . Administer the general regulatory sandbox.

2. Manage the regulatory relief webpage.

A regulatory sandbox is a framework that allows startups and other innovators to test their product or concept in a controlled environment under a regulator’s supervision. A regulatory sandbox may bring the cost of innovation down, reduce barriers to entry, and allow regulators to collect information that can be shared with policymakers.

There are three other sandboxes in Utah: fintech, insurance, and legal services. The general sandbox is the first of its kind in the United States. It will allow all types of businesses to waive state law to temporarily experiment with products, production methods, or services, giving entrepreneurs a chance to see if customers value products that don’t fit within the state’s current regulatory framework. Additionally, the sandbox will help policymakers evaluate which regulations are necessary and which ones are overly burdensome.

Dane Ishihara is the director of the newly formed Utah Office of Regulatory Relief and has over 15 years of experience working for the state of Utah.

“I look forward to using my experience at the Utah Department of Commerce in regulation and my experience at Go Utah in economic development to develop a system that allows entrepreneurs an opportunity to develop their product or services while maintaining limited risk to Utah consumers,” said Ishihara.

On the office’s webpage, users are encouraged to make suggestions regarding laws and regulations that could be modified or eliminated to reduce the regulatory burden on residents and businesses in the state. At least quarterly, the regulatory relief office compiles the suggestions. It also provides a written report outlining common suggestions to the governor, the Business and Labor Interim Committee, and

the Economic Development and Workforce Services Interim Committee.

The General Regulatory Sandbox Program Advisory Committee was created to assist the office in meeting these objectives. The Committee consists of three regulatory state agencies, six private industries, one state senate appointee, and one state house appointee. It’s responsible for advising the office on applications for participation in the sandbox and for evaluating information submitted through the regulatory relief webpage.

To learn more about the Office of Regulatory Relief, visit business.utah. gov/regulatory-relief

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FOREVER MIGHTY AND DESTINATION MANAGEMENT ARE THE BACKBONE OF UTAH’S PERPETUAL TOURISM ECONOMY

By Elainna Ciaramella

A new ethic in thoughtful visitation and responsible recreation is coming alive throughout Utah. That ethic is a powerful call to action known as Forever Mighty. Launched by the Utah Office of Tourism (UOT), Forever Mighty guides Utahns and visitors alike to travel with respect and to forge stronger connections to our landscapes and communities.

Tourism is a key economic driver in Utah. In 2020, Utah’s visitors spent $7.07 billion, yielding $1.16 billion in state and local tax revenue and supporting 119,600 jobs, resulting in a tax benefit of $1,112 per household in Utah, according to the latest data from the Kem C. Gardner Policy Institute. Between the state’s population growth and rising visitation it is, now more than ever, a priority to protect the iconic trails, dramatic landscapes, cultures, and communities that make Utah a national treasure.

Utah is a geological marvel carved by oceans, inland seas, and the power of climate and nature over millions of years. Its dramatic scenery tells ancient stories that draw visitors from near and far to revel in its aweinspiring scenery, quality of life, and accessibility to outdoor recreation and cultural resources.

The Utah Office of Tourism is committed to creating a perpetual visitor economy that respects and protects these scenic and cultural wonders. The office’s Red Emerald Strategic Plan focuses on distributing visitors across the state

and across seasons, extending stays to reduce impact, and creating a high-quality experience for visitors and communities alike. Forever Mighty is an anchor initiative within this plan that encourages mindful visitation and travel behaviors that honor the community and protect our lands for future generations.

As Utah grows as a visitor destination, it becomes increasingly important to manage the state’s tourism assets, cultures, and communities. This includes fostering pride in place, supporting local business in the communities adjacent to state and national parks and public lands, and encouraging well-prepared visitation to lesser-visited destinations or visiting during off-peak times.

These motivations led to the UOT’s collaboration with Tread Lightly! last year. This Utah-based national nonprofit promotes outdoor ethics and stewardship, particularly with higher impact and motorized recreation.

Tread Lightly!’s educational message, along with its unique training and restoration initiatives, are designed to instill an ethic of responsibility in outdoor enthusiasts and the industries that serve them. “The program’s long-term approach is to balance the needs of the people who enjoy outdoor recreation with maintaining a healthy environment,” explained Matt Caldwell, executive director of Tread Lightly!.

“The [Forever Mighty] stewardship project that we completed in Hog Canyon near Kanab in October was the culmination of those efforts for 2021. By partnering with the Utah Office of Outdoor Recreation and the Utah Office of Tourism, we were able to lead by example and demonstrate how people can ‘do your part’ and give back to the public lands that we so love to enjoy,” Caldwell said.

This partnership with Tread Lightly!, as well as an ongoing collaboration with the Leave No Trace Center for Outdoor Ethics, builds on the Office of Tourism’s efforts to ensure stronger communities, and the preservation of the state’s treasured places and outdoor recreation access.

“The scope of the UOT’s work is geared toward planning and implementing mutually beneficial outreach programs, initiatives, and messages regarding the care and protection of Utah’s natural resources enjoyed by visitors and residents alike,” said Vicki Varela managing director of the Utah Office of Tourism. “The most important thing we do at the Office of

Tourism is to think long-term about a visitor economy that keeps Utah, and its destinations, perpetually — forever — mighty.”

Learn more about the UOT’s Forever Mighty work at travel.utah.gov and read responsible travel tips and stories at visitutah.com/forever

UTAH’S ADVANCED MANUFACTURING INDUSTRY

By Dr. Tulinda Larsen, Executive Director, Utah Advanced Materials and Manufacturing Initiative (UAMMI)

In 2020, the Utah Governor’s Office of Economic Development identified advanced manufacturing as a targeted industry for economic development, based on an extensive industry analysis conducted by the Kem C. Gardner Policy Institute. Advanced manufacturing joins the state’s other targeted industries, including aerospace and defense, financial services, life sciences and health innovation, and software and information technology.

What is Advanced Manufacturing?

Advanced manufacturing is the future of manufacturing. Its impact on the industry could be as significant as the invention of the assembly line.

Advanced manufacturing includes production activities that depend on data, new materials, automation, computation, software, sensing, and networking. Using innovative technologies to monitor and optimize every step in the manufacturing process, advanced manufacturing creates a digital profile of every part. That profile (called a digital thread) can then be used to predict each part’s performance in real-life applications.

Further analysis will maximize the performance of future parts, making products better and giving them a longer lifetime. Combined with manufacturing efficiencies, these improvements lead to lower prices.

All types of manufacturers are transitioning to advanced manufacturing technologies. Advanced manufacturing also paves the way for new manufacturing processes, which are already making major contributions to our lives. These new processes include 3D printing, digital engineering, and advanced robotics.

Utah Companies Leading Advanced Manufacturing

Utah’s can-do attitude and entrepreneurial approach are at the core of advanced manufacturing implementation. Both small and large companies in the state are applying advanced manufacturing processes. Here are just three of Utah’s leading advanced manufacturing companies.

Hexcel Corporation

Hexcel is a global leader in manufacturing advanced composite materials for the commercial aerospace, space and defense, and industrial markets.

From Roger Steele’s post-war laboratory in the basement of a suburban home to the production of the lunar struts on the Apollo 11 lunar landing module, Hexcel has been synonymous with innovation in advanced manufacturing. It’s the largest U.S.-owned manufacturer of carbon fiber, one of the world’s most sophisticated materials.

Hexcel’s new 100,000 square-foot research and development building, currently under construction in Utah, will be home to a state-of-the-art laboratory where company scientists and researchers will collaborate with customers on the latest composite technology developments for aerospace, space and defense, and industrial applications.

It will be the company’s largest center for innovation and product development in North America and a showcase for its advanced composites technology. With space for future growth and expansion, the company expects to add up to 150 jobs at the center over the next 12 years.

Merit3D

This small business in Price, Utah, makes a big economic impact by creating jobs in mass production 3D additive manufacturing. Merit3D uses advanced manufacturing technologies to lower costs through rapid prototyping techniques, faster design cycles, and digital design.

Merit3D gives customers the ability to easily modify the product to meet evolving market needs and incorporate improved technologies. Merit3D can design and manufacture customers’ products in a matter of weeks, not months or years.

Working with Utah State University – Eastern, Merit3D has developed training and courses to help workers in rural Utah transition to well-paying jobs in advanced manufacturing. They see an opportunity to provide excellent employment in a part of the state that has been adversely affected by the downturn in coal production.

Merit Medical

Merit Medical is a leading manufacturer and marketer of proprietary disposable medical devices used in interventional, diagnostic, and therapeutic procedures, particularly cardiology, radiology, oncology, critical care, and endoscopy.

Merit Medical has maximized advanced manufacturing through automation in the production of medical equipment to reduce costs and increase product quality. Merit Medical proves that automation does not replace workers. Instead, it provides opportunities for workers to grow and excel. Merit’s production facilities showcase clean, efficient, productive, innovative, and profitable manufacturing, making them perfect examples of how advanced manufacturing can operate.

These companies and more are part of the Utah Advanced Materials and Manufacturing Initiative, whose mission is to ensure that Utah is a global leader in advanced materials and advanced manufacturing through public-private partnerships that bring together industry, government, and academia. For more information, visit UAMMI.org

AEROSPACE & DEFENSE INDUSTRY: UTAH’S ECONOMIC ENGINE

By Dr. Tulinda Larsen, Executive Director, Utah Advanced Materials and Manufacturing Initiative (UAMMI)

Utah’s aerospace and defense industry provided more than 10% of the state’s GDP in 2019, making a significant contribution to the state’s robust and growing economy.

The steady nature of defense spending results in the leading economic input of exported goods and professional services contracted by out-of-state entities. For example, the country’s $85 billion Sentinel initiative (formerly the Ground Based Strategic Deterrent weapon system replacement) is housed at Hill Air Force Base, ensuring Utah’s aerospace and defense industry will continue to thrive.

Thanks to a combination of the technical skills and experience required by the aerospace and defense industry and a scarcity of trained talent in Utah, wages in this industry continue to outpace the state average. In 2019, the average annual pay for aerospace and defense industry employees grew to more than $85,000, more than 35% higher than the state’s average salary.

The aerospace and defense industry includes well-known larger companies such as Northrop Grumman, L-3 Harris, Lockheed Martin, Parker Hannifin, Hexcel, Albany, and Moog Inc. These companies combined hold more than 50% of U.S. defense contracts within Utah.

However, there’s momentum for smaller innovative companies to meet growing aerospace and defense industry needs. Utah-based Advanced Composites, Inc., Kihomac, MetalCraft, ACT Aerospace, and Conductive Composites are small businesses making big contributions in this industry.

Recognized as the ‘Startup State’ and an innovation center for many essential elements of aerospace technology — including composites, advanced manufacturing, and software technology — the U.S. Department of Defense and Air Force are increasing their focus on accelerating the expansion of Utah’s national security innovation base.

One example of this increased focus on the innovation base in Utah is the recent expansion of Catalyst Campus to Ogden, Utah. Catalyst Campus has an agreement with the Air Force to create collaborative ecosystems where industry, small business, workforce training,

entrepreneurs, startups, and venture capital intersect with the aerospace and defense industry to build community, spark innovation, and stimulate business growth.

Catalyst Campus efforts in other regions have supported more than 50 companies, enabling more than 200 contracts and creating 1,200 high-paying tech jobs. The expansion to Ogden demonstrates the innovation capacity in Utah, and the accelerating growth of technology needs at Hill Air Force Base for platforms such as the F-35, F-22, and the new Sentinel program.

Non-traditional businesses, such as the service-disabled, veteran-owned small business Borsight, are also being cultivated and supported. Founded in Utah, Borsight recently received a $62 million, five-year contract to supply data link systems for KC-135 Tanker planes, enabling them to become ‘Nodes in the Sky.’ The work at their Ogden facility includes systems integration engineering, hardware, software, and cyber security for these critical data communication systems.

Other aerospace and defense industry investments in Utah include a $1 billion 10-year contract from the Air Force Research Laboratory, awarded to the nationally recognized Space Dynamics Laboratory at Utah State University. The contract is an indefinite-delivery, indefinite-quantity deal. The government grants up to $1 billion to USU for the next 10 years to fund whatever projects the Air Force needs them to work on.

Space Dynamics Laboratory’s core competencies include electro-optical sensor systems research and development; modular open systems architecture for airborne, space and ground applications; sensor modeling and simulation; and several other developing technologies and programs.

Because of Utah’s leadership in innovation and technology, and its significant aerospace and defense ecosystem development initiatives, new small businesses will continue to thrive as Utahns support our national defense.

About UAMMI

The Utah Advanced Materials and Manufacturing Initiative’s mission is to ensure that Utah is a global leader in advanced materials and advanced manufacturing through public-private partnerships, bringing together industry, government, and academia. For more information, visit UAMMI.org

BROADENING OUR HORIZONS.

When we work together, we create better opportunities for everyone. Boeing is proud to partner with those who open doors for success, as we build a better world for all.

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“DREAM BIG, THEN BIGGER THAN THAT.”

- CAMERON RUSSELL WILLIAMS

GROWTH AND INVESTMENT CONTINUE TO THRIVE IN UTAH

For over a decade, Utah has been recognized nationally as an excellent state for business. In its most recent rankings, U.S. News & World Report ranked Utah the No. 3 best state in the nation and gave Utah credit for the best overall economy. Additionally, the American Legislative Exchange Council ranked Utah as the state with the best economic outlook for the 14 th consecutive year. The secret is out on doing business in Utah, and the secret is getting out on investing in Utah, too.

Every spring, MountainWest Capital Network presents the Annual Deal Flow Report, Utah’s only comprehensive publication tracking equity-related financial transactions throughout the state. MountainWest Capital Network’s goal is to showcase Utah’s dynamic business environment and increase attention from local and national investors. In 2020, this report highlighted that while the number of reportable equity-related transactions was down as compared to years past, the $26.4 billion volume of these transactions was substantially higher than any year in recent history.

MountainWest Capital Network will release the results from 2021 later this spring at its 27th Annual Deal Flow Event. All indications are that 2022 will be another banner year for public offerings, private placements through venture capital, private equity, angel investors, and mergers and acquisitions. For more information on this and other events hosted by MoutainWest Capital Network, visit mwcn.org

While nobody can perfectly predict the challenges that Utah and other states will face in 2022, the past performance of the state and its ability to thrive in a changing world give us reason to be very optimistic that Utah will continue to be a great place to start a business, operate a business and invest in companies of all kinds.

Paul Skeen, CPA

Skeen is an assurance partner at Eide Bailly, LLP in Salt Lake City. His experience in public accounting includes involvement in all aspects of financial and compliance audits with an emphasis in assurance and advisory services to dealerships and governmental entities. He currently serves as chair of MountainWest Capital Network.

ANOTHER SCIENTIFIC REVOLUTION

Utah is in the middle of a scientific revolution. Advances in biological sciences and computing are fueling a new wave of innovation transforming our society and economy. How we respond to this new era will dictate whether Utah becomes a frontier state pushing forward biotech advancements or falls into complacency, sticking with the herd

Utahns have made revolutionary discoveries and innovations. Scientists at Myriad Genetics discovered the breast cancer gene, and John D. Morgan digitized health records on a mainframe computer in the back of his RV, an effort that now provides the framework for 3M’s medical coding software.

Utah is home to global leading device companies like Merit Medical, Stryker, Edwards, Varex Imaging, BD Medical, and Fresenius. Medical device manufacturers in Utah employ over 10,000 people and create devices that extend and save lives. Utah also boasts ARUP, the nation’s largest nonprofit reference laboratory, employing more than 4,000 people in a state-of-the-art facility at the University of Utah’s Research Park. Our state is also home to emerging and mature therapeutic companies seeking new medicines for diseases that plague humankind.

Utah’s life sciences industry is composed of innovators pursuing lower healthcare costs through creating life-saving devices, diagnostics, and drugs.

But the world of science and discovery is no longer siloed, and the life sciences companies of 2022 do not look like the past. Recursion Pharmaceuticals, for example, has a workforce split 50/50 between traditional scientists and computer scientists, leveraging cutting-edge computer science to provide new insights into human biology.

The future is more interdisciplinary than ever and will require educational innovation to meet new needs. Over the last two years the Utah Legislature, in an initiative led by Sen. Ann Millner, set aside millions of dollars for further investment in the education and training Uthans will need to innovate and meet the needs of tomorrow.

COVID-19 has brought healthcare to the forefront of public discussion, and Utah companies have risen to the challenge. For example, you may have taken a COVID-19 test created or manufactured in the state. More than 50 Utah companies have responded to the pandemic, developing diagnostics, performing tests, evaluating the effectiveness of personal protective equipment, or producing novel devices to help curb the spread of the virus.

Partly due to the coronavirus pandemic, Utah’s life sciences employment jumped 7.2% from 2019 to 2020, far exceeding the national average of 0.5%. As one of the fastest-growing life science sectors in the nation since 2012, this industry directly supplies 1.9% of all jobs in the state – more than double the concentration nationwide and the highest concentration of any state in the country. The earnings footprint in life sciences is disproportionately large at 3.6% of all worker earnings in Utah. Employee compensation is 46.5% above the state average, proving this is an industry where you can do well while doing good.

Our nation is experiencing a scientific revolution and Utah is well-positioned to lead in this effort. But we’re not alone. Many other states see the opportunity as well. Now’s the

time to work together to strengthen our capacities and enable our businesses to unleash their creativity. Such an approach will yield tremendous benefits in the form of improved health outcomes, public safety, economic well being, and prosperity for generations to come.

Utah continues to lead the nation in the growth of this important industry, expanding access and opportunities to a sector that creates products to improve and save lives. Join the BioHive and be a part of it.

2021—A SEMINAL YEAR FOR UTAH’S SOFTWARE MARKETPLACE

From its historic role as the birthplace of computer graphics over 50 years ago through today, Utah has been known for the breakthrough visions of its entrepreneurs and innovators, especially in the world of software.

The continuing negative impact of a worldwide pandemic notwithstanding, 2021 was a unique snapshot in time for Utah’s software and technology industries.

As the primary nonprofit organization focused on supporting and promoting technology, startup and techinformed businesses, professionals and consumers in Utah, Silicon Slopes has a front row seat to the fast-paced and dramatic changes produced by the state’s software and tech industries.

Case in point, over 15,000 individuals and hundreds of companies joined the organization last October as it hosted the two-day Silicon Slopes Summit in downtown Salt Lake City. The fifth annual event featured keynote addresses from Apple’s CEO, Tim Cook, and LA Clippers owner/former Microsoft CEO, Steve Ballmer.

Additionally, face-to-face and virtual attendees in 2021 were uplifted, inspired, and taught by executives and thought leaders from such organizations as:

 Adobe

 Ancestry.com

 Divvy

 Entrata

 iHeartMedia

 NASDAQ

 Overstock

 Splunk

 TaxBit

 The Larry H. Miller Company

 Traeger Grills

 University of Utah

 Utah Jazz

 ZoomInfo

Current and former elected officials such as Gov. Spencer Cox, U.S. Senators Mitt Romney and Mike Lee, and former U.S. Secretary of Health and Human Services Mike Leavitt also participated and led discussions.

As impactful as the 2021 Silicon Slopes Summit was both within and outside of Utah’s business ecosystem, an incredible amount of progress and success was achieved throughout the year by Utah’s businesses and organizations, especially within the software community.

For example, Utah’s software businesses raised a record amount of money in 2021, with over $2 billion invested in Software-as-a-Service firms and app developers in Utah last year. A handful of examples include:

 Lucid: $500 million (Secondary investment)

 MX: $300 million (Series C round)

 Podium: $201 million (Series D round)

 Divvy: $165 million (Series D round)

 SimpleNexus: $108 million (Series B round)

 TaxBit: $230 million (Series A and B rounds)

Additionally, dozens of Utah software companies were acquired during 2021 and many also purchased other firms, generating a combined total worth $8 billion in increased value for their shareholders, led by the acquisitions of:

 Pluralsight: $3.8 billion (acquired by Vista Equity Partners)

 Divvy: $2.5 billion (acquired by Bill.com)

 Claravine: $1.1 billion (acquired by Qualtrics)

 SimpleNexus: $1.2 billion (acquired by nCino)

A handful of Utah-based software companies raised capital through public offerings, including:

 Qualtrics: $2.8 billion raised via an IPO and a Secondary Offering

 HealthEquity: $600 million raised via a Debt Offering

 HealthEquity: $400 million raised in a Secondary Offering

 Weave: $120 million raised via an IPO

In total, a minimum of $15 billion in financial transactions occurred within Utah’s software community in 2021 through fundings, acquisitions, and public offerings.

This amount is the highest combined total of monies raised/value created in a single year within Utah’s software marketplace. Silicon Slopes, is “on fire” and well-positioned for continued success in 2022 and beyond.

A sports fanatic known to friends as “Poppa P,” David Politis is passionate about making the world a better place by helping find and share the amazing stories of the Utah business community known as Silicon Slopes

BOXING AND MIXED MARTIAL ARTS “FINDS A WAY”

THROUGH THE PANDEMIC AND INTO THE FUTURE

The Utah Professional Athletic Commission Act was passed by the Legislature in July 2001, granting authority to the commission to regulate “unarmed combat sports” in the Beehive State. This law requires licensing of promoters, managers, contestants, seconds referees, and judges for boxing, kickboxing, and mixed martial arts. The commission is named in honor of Utah State Senator Eliud “Pete” Suazo, an advocate for youth and minorities and a boxing enthusiast.

The mission of the Pete Suazo Utah Athletic Commision is to provide a safe and healthy environment for athletes to compete in unarmed combat sports.

Boxing History in Utah

Utah native “The Cyclone” Gene Fullmer defeated champion boxer Sugar Ray Robinson by unanimous decision in January 1957 to capture the National Boxing Association world middleweight title. His brother, Doug Fullmer, followed him into the sport. Doug fought as an amateur for four years and went on a 65-match winning streak. The spirit of the “Fighting Fullmers” lives on at their gym in West Jordan, which has sent many boxers to the USA Boxing National Championships in recent years.

Mixed Martial Arts — The Fastest Growing Sport Worldwide

Mixed Martial Arts (MMA) made its debut the U.S. as a fringe sporting spectacle with the Ultimate Fighting Championships, held on November 12, 1993 in Colorado. Since then, the sport has grown into an international phenomenon. In 2016, the Ultimate Fighting Championship (UFC), an MMA promotion company based in Las Vegas, sold for an unprecedented $4 billion. MMA now accounts for 85% of Utah’s live unarmed combat sports events.

Struggles To Compete in the Age of COVID-19

COVID-19 prompted cancellations of unarmed combat sports events around the world, leaving contestants, promoters, venues, and fans hungry for their favorite sports. The industry in Utah was hit just as hard as the rest of the world. But with struggle comes innovation.

Late in 2020, many Utahns came together to formulate a way to keep the fight community safe during the ongoing pandemic. The first step was to find adequate and affordable testing for the fighters and coaches to help limit the spread of the virus. Next, a BYU graduate, who was also a fighter himself, developed a software solution that let promoters stream events cost-effectively via social media and through event websites.

Despite its direct contradiction to all previous business models in the industry, promoters adopted the motto of “Stay Home & Stay Safe.” Later, as the threat subsided, fans began to return with limited capacity, social distancing, and masks. Eventually, unarmed combat sports events returned to near pre-pandemic standards.

No live events for nearly a year took a toll on promotions, which have only now started to recover. And some changes adopted during the worst of the pandemic have become permanent. For example, internet streaming for most promotions is here to stay. It allows friends and family members from around the globe to participate in these young athletes’ fledgling careers. Promoters now have an innovative way to build their brand, generate income and stay solvent in uncertain times.

Today, testing continues, internet streaming has become the norm, and the fight world continues to grow in Utah

SMOOTH SAILING:

WORLD TRADE CENTER UTAH MINIMIZES THE PAIN POINTS OF INTERNATIONAL EXPANSION

By Julia Breinholt-Pappas , WTC Utah Marketing Communications Director, and Charlotte Serage, WTC Utah Inside Sales and Special Projects Manager

Going global with your business means navigating language barriers, logistical issues and regulatory controls. These things can be daunting and complex, even for large companies. But global expansion also offers immense opportunities — if you are ready to put in the work to capture them.

Utah businesses willing to endure short-term growing pains will set themselves up for longterm gain. Ninety-five percent of the world’s consumers reside outside of the U.S. Your best customers may be half a world away, waiting to discover you.

To ensure no Utah business has to embark on their international journey alone, World Trade Center Utah (WTC Utah) expanded its services and introduced a new team in 2021 dedicated to helping Utah businesses grow globally. The Global Business Services team (GBS), helps large and small companies in industries as diverse as outdoor recreation, beauty and cosmetics, composite manufacturing, medical devices, education, and agriculture.

Staheli West, based in Cedar City, manufactures hay steamers that produce higher-quality hay bales. When domestic sales shrunk in 2020, Staheli West worked with WTC Utah to help with international sales.

“Data for the alfalfa industry is difficult to find, and WTC Utah has found more useful information than we thought possible,” said Spencer Douglas, Staheli West global sales manager.

With the support of multiple grants, today international sales represent $4 million of the company’s revenue. Now, they’re focused on new international markets for continued growth.

WTC Utah has invested in a highly data-driven market research process, enabling it to assess a company’s capabilities abroad. The organization can help Utah companies identify market potential, industry trends, and

political risks in the desired export and investment markets. After selecting a target market, WTC Utah’s GBS team uses its extensive network to connect businesses to suppliers, distributors, and other key international actors. Once the company is ready to put its feet on the ground, it can join WTC Utah on a trade mission, trade show, or a private business trip to connect with new opportunities.

Reading Horizons, an English-learning software company based in Kaysville,

has experienced rapid sales growth in the U.S. for three decades, but needed to find buyers outside the country to scale their success. Reading Horizons joined WTC Utah as a member, which allowed them to take full advantage of WTC Utah’s international networks and in-house research capabilities. The GBS team acted as Reading Horizon’s outsourced sales team. Using existing connections and an understanding of the education market in various countries, the GBS team brought new customers from Pakistan and Canada to Reading Horizons.

By leading Utah’s international business development, WTC Utah elevates Utah’s global status, promotes prosperity, and enhances economic resilience. Building on long-standing services such as educational events and grant administration, in the last year alone the GBS team has directly assisted more than 100 Utah companies in creating a cumulative $3.6 million in sales.

WTC Utah also acts as a critical crossroads between Utah’s manufacturing industry and the global market. A notable player in this space is ACT Aerospace, a small, rural Utah company that engineers and manufactures aerospace components. ACT Aerospace took an important step in its internationalization process by joining a Governor-led trade mission to Tokyo, Japan, in September 2019.

On this trip, WTC Utah’s services team arranged for ACT to meet with senior leaders from Mitsubishi’s aerospace division. Through this connection, ACT negotiated multiple contracts with Mitsubishi. ACT and WTC Utah continue to work closely together through targeted market research and on-site visits to generate international opportunities.

Utah companies ready to go global can visit WTCUtah.com to learn about upcoming trade shows and trade missions, apply for grant funding, and gain a partner dedicated to your international success.

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ECONOMIC DEVELOPMENT:

EVOLVING AND ADAPTING

By Theresa A. Foxley, President and CEO, EDCUtah

TO CHANGING

TIMES

The Economic Development Corporation of Utah (EDCUtah) is a statewide economic development organization (EDO) with a mission to catalyze quality job growth and increase capital investment in the state. A partner of the Governor’s Office of Economic Opportunity, EDCUtah specializes in corporate recruitment, economic research, site selector marketing, and community development. Our daily interactions with companies interested in bringing operations to Utah give us unique insights into a range of trends.

The pandemic has brought changes to the mix of companies looking to expand in Utah and the top-of-mind concerns of those companies. Two years since COVID-19 first began to impact our country’s economy, we in Utah are experiencing the following shifts, some of which are surprising, some less so.

Our pipeline of active recruitment projects is at record levels. The appetite for corporate expansion is robust.

As they navigate the changing world of remote work, information technology and financial services companies (aka “office projects”) are still essentially on the sidelines. However, we see small incremental increases in this part of our pipeline.

Manufacturing and distribution companies (aka “industrial projects”) are going gangbusters as these companies seek to de-risk their shop floors, supply chains, and logistics. More than half of EDCUtah’s project pipeline is in this category, up from a third of the pipeline two years ago.

Nationwide, shovel-ready or move-in-ready industrial properties are scarce. Utah is experiencing this same shortage. Combine this trend with increased interest from industrial projects, and you can see why one consultant has said, “Speed to market is the new incentive.”

The pandemic exposed disparities when it comes to our nation’s diverse communities. Across all industries, there is a rising level of interest in environmental, social, and governance (ESG) issues. Increasingly, companies care about creating a sense of belonging for all of their employees and are adding ESG criteria to their location decisions.

To address these changes to our client mix and client concerns, EDCUtah has undertaken three main strategies.

Theresa A. Foxley, President and CEO, EDCUtah

Redeployment and Training — EDCUtah staff members have become more conversant in manufacturing complexities.

Two years ago, one business development (BD) staff member might have specialized in the financial services market, another in life sciences, and a third in tech. Today, all BD staff share the load to service a wide range of industrial projects.

EDCUtah investors have been generous in sharing their specialized knowledge on industrial water, power, other site utilities and construction issues making them vital to our learning curve. These invaluable connections have made us wiser and helped us serve our project clients better. At the same time, our community strategy team has been sharing technical knowledge with our public sector investors, supporting our partner cities and counties to become more responsive to complex manufacturing opportunities.

Site Ready Utah and Product Development — EDCUtah has launched a program to build an inventory of project-ready properties. Across the state, municipalities and landowners are following a disciplined process to gather site information, including detailed engineering studies. The Site Ready Utah program (Site Ready Utah) is expanding the number of industrial sites of 50 acres or more across the state that have standardized information available. Certification under this program indicates to an interested company that the evaluation, permitting, and construction processes at a given site will be streamlined should the company choose that site. In other words, speed to market.

Diversity — Utahns are more diverse than our national reputation indicates. Utah is comparable to Colorado, Ohio, Minnesota, and Missouri in the percentage of non-white population. And that percentage is changing fast. One in four Utahns is a racial or ethnic minority, up from one in five only a decade ago. This rate of change grew by 50% since 2010, compared to 17% nationally. Further, Utah’s public and private sectors have aspirations to welcome the world, as evidenced by the January 2021 signing of the Utah Compact on Racial Equity, Diversity, and Inclusion.

Part of EDCUtah’s approach is to better communicate Utah’s changing demographics to out-of-state companies and site selectors. At the same time, we wish to make the case to out-of-state talent from diverse backgrounds that Utah is a welcoming place with unparalleled live, work and play characteristics. Toward these aims, EDCUtah has formed the Center for Economic Opportunity & Belonging (CEOB)

With the support of Comcast (an EDCUtah investor), CEOB has launched stereotype-busting video assets for human resource and corporate recruiters to use when engaging with diverse out-of-state talent. EDCUtah will also share these videos with site selectors and corporate executives of companies considering Utah for an expansion project.

These “We Are Utah” videos are found on EDCUtah’s YouTube channel and are available free of charge for companies to use in their recruiting efforts. These videos are early components of a larger, multi-year “Belong In Utah” campaign that CEOB will launch in 2022.

EDCUtah continues to evolve and adapt to our world’s changing conditions to help ensure a quality job for every aspiring Utahn.

GETTING TO KNOW THE BEEHIVE STATE

By The Kem C. Gardner Policy Institute at the University of Utah

Non-Utahns will know Utah for many things — the Mormon pioneers who settled here, a large interior salty sea, world-class skiing, extraordinary red rock national parks, and even the Utah Jazz. Utah’s distinctive demographic profile is probably less familiar, but it’s the most unique state in the nation by many measures. Utah is young, urban, growing fast, and becoming more diverse every day

The 2020 Census confirmed Utah’s status as the fastestgrowing state in the nation. With an 18.4% decadal growth rate, Utah outpaced national growth by a factor of 2.5. Over the past decade, Utah climbed from the 34th largest state to the 30 th largest state, a surprising four-state jump. No other state increased its ordinal ranking as much as Utah did.

Utah’s growth is commonly attributed to its high fertility rate, which is certainly on point, but becoming less relevant each year. At 1.95, Utah’s total fertility rate is below replacement level and no longer the highest in the nation. Both South and North Dakota currently have higher fertility rates than Utah.

Even with a declining fertility rate, Utah remains the nation’s youngest state, with a median age in 2020 of 31.5. This youth provides the state with many economic advantages relative to other states, including a growing, healthy, low-cost, and tech-savvy workforce.

Utah continues to change at a rapid pace. Net in-migration has occurred in 29 of the past 31 years, including the secondhighest net in-migration on record in 2021. This in-migration is not surprising given Utah’s nationally ranked economy. Utah has led the nation in the rate of job growth over the past two years and is one of only four states that can claim an increase since November 2019. Idaho, Texas, and Arizona are the other three.

Much of this employment growth has come from Utah’s red hot tech sector, known as “Silicon Slopes,” which increased at 3.5 times the national rate of tech-sector employment growth from 2008 to 2018. The growth of Utah’s service sector over the past two decades including, among others, health services, life sciences, and travel and tourism, has created an economically diverse economy. Utah’s economic structure now ranks among the most diverse in the country.

In-migration and higher birth rates among the non-white population contribute to a rapidly diversifying state. Utah’s non-white Hispanic population now makes up 15% of the state’s total population. It surprises many people to learn that Utah now ranks as the 34th most racially and ethnically diverse state and has more racial and ethnic diversity than Indiana, Minnesota, Missouri, Ohio, and Wisconsin.

Utah continues to urbanize, now ranking as the 8 th most urban state in the country. The five contiguous and largest counties in northern Utah comprise 75% of the state, which means most

Utahns live in the Greater Salt Lake Area. This concentration of people means Utah experiences some of the same urban benefits and challenges as larger states, including homelessness, congestion, air pollution, pockets of poverty, and crime.

Complementing Utah’s distinctive and changing demographics and thriving economy, the state government manages its affairs prudently. Utah balances its budget, adheres to a statutory appropriation limitation, gives its governor line-item veto authority, and saves money for a “rainy day.” Today, Utah’s budget reserve accounts tally approximately $1.2 billion, or about 10% of state funds. Not surprisingly, the state receives a AAA bond rating from all three major credit-rating entities.

These economic, demographic, and social characteristics are why Utah’s favorably positioned to prosper in 2022 and beyond.

UTAH INLAND PORT AUTHORITY:

BRINGING SUPPLY CHAIN SOLUTIONS

Whether it was at the grocery store or your local car dealership, you likely witnessed something missing from the shelves or showroom at some point during the last year. Supply chain disruptions have impacted all of us in one way or another and shown us how vulnerable we are to a broken logistics system.

With demand for consumer goods reaching record highs in 2021 and on pace to skyrocket even higher, the Utah Inland Port Authority (UIPA) is taking steps to address the immediate crisis of goods shortages and higher consumer prices while charting a new course for the future of the logistics industry.

“It’s important to understand that logistics and the infrastructure around logistics don’t create growth; they follow growth,” said UIPA executive director Jack Hedge. “Our goal is to make those logistics systems cleaner, smarter, and more efficient. That may seem obvious, but it’s not traditionally how the U.S. has approached logistics. The U.S. lacks a national strategy for transportation and goods movement.”

But now the industry is coming together to transform the nation’s supply chain with a new model that aligns ocean carriers, ports, rail, cargo owners, and other key industry stakeholders to reduce fragmentation of cargo destinations. “With the anticipated trade growth, the only way that you will be able to accommodate the growth is by increasing velocity,” said Andrew Hwang, manager of maritime business development and international marketing for the Port of Oakland.

Increasing velocity starts with partnerships to bring international containers further inland by rail to be sorted and sent to consumers. Those containers can then be returned to the coast full of exports. Utah’s geography places the state at the strategic crossroads for this model, and the Port Authority’s expertise and relationships have put Utah at the center of the conversation.

“This is now a national crisis,” said Dr. Noel Hacegaba, deputy executive director at the Port of Long Beach. “This is why partnerships with the Utah Inland Port Authority, Union Pacific, Valor Victoria, Port of Oakland, and others are so important. It’s so critical that we all recognize that we’re part of a broader system.”

To facilitate UIPA’s more than two dozen partnerships, the statewide multimodal logistics agency has several projects in process focused on the efficient movement of goods. Today, 90% of the goods that come into this market arrive by longhaul truck. UIPA’s new transloading facility allows some of that cargo to shift to rail, providing a relief valve for coastal ports and eliminating 300 trucks for every 100 train cars.

Trucking still remains an integral part of the logistics system, and the Port Authority is helping address current issues facing the industry. Today, Salt Lake City sees more than 300 trucks parking overnight on the streets. UIPA is developing truck parking facilities that offer a secure location where truck drivers can plug in auxiliary units, reducing idling and eliminating 45 tons of emissions per year.

Improving the visibility of cargo containers is also key to the next generation of logistics. Approximately 30% of transactions in the supply chain are recorded manually, and recorded data is often siloed. UIPA’s intelligent crossroads network is the first private 5G/LTE system dedicated to the supply chain. This new generation of innovation provides comprehensive data aggregation of freight movement that will identify inefficiencies and inform decision-making for cargo owners.

Utah Inland Port Authority’s mission to bring smart, sustainable solutions to the national supply chain is transforming trade patterns for the benefit of all of Utah — helping goods movement today and improving quality of life tomorrow.

MAKING “THE POINT”

By Alan Matheson, Executive Director of the Point of the Mountain State Land Authority

What today is the site of the Utah State Prison will, in a few years, become a thriving, future-focused innovation community known as “The Point.”

The Point presents market opportunities that are unavailable anywhere else. In summer 2022, the state prison will move from Draper to its new location, opening the door to an unparalleled 600-acre economic development and quality-of-life opportunity.

Utah has led the nation over the last decade in population growth and economic performance, and The Point is at the epicenter of that growth. For the past 10 years, half of all new businesses in the region have been located in the Point of the Mountain area.

The Point is in the heart of Silicon Slopes, one of the nation’s most dynamic high-tech centers, supported by a young, educated, and entrepreneurial workforce. It’s well-served by high-quality transportation, fronting major highways, and current and future public transit. The stunning views of the majestic Wasatch Mountains further distinguish the site.

This development project has been called a “once-in-ageneration” opportunity, and rightfully so.

Advancing that opportunity is the responsibility of the Point of the Mountain State Land Authority (Land Authority), created by the Legislature and overseen by a board of 11 state and local leaders tasked with providing an economic and social return on the public investment. The Land Authority sought input from Utah residents – the owners and beneficiaries of this project – and over 10,000 Utahns responded, sharing their ideas, hopes, and values. The Land Authority also engaged the internationally recognized planning team of Skidmore, Owings & Merrill to create a framework plan for The Point based on legislative direction and public priorities.

The framework plan, completed in August 2021, envisions the site’s transformation into a live-work-play community – a model of thoughtful planning that preserves what we love about Utah and acts as an economic catalyst providing outstanding career opportunities.

The plan features a mixed-use core surrounding a central park, forming a retail and entertainment destination unique to the region. A river-to-range parkway will connect over 100 miles of regional trails and serve as the site’s active transportation and recreational backbone. Imagine taking a lunchtime bike ride from the office, over a bridge across I-15, to the exhilarating Corner Canyon trails, before returning for an afternoon of work.

The Land Authority is implementing strategies to accommodate emerging mobility options, incorporate technologies to make life safer and more convenient for residents, and significantly reduce air emissions, water needs, and energy use.

The Point will:

 Provide a range of housing options,

 Create thousands of high-paying jobs,

 Catalyze cutting-edge research,

 Nurture new ideas and products to solve Utah’s challenges, and

 Provide an exciting gathering place with restaurants, parks, plazas, and entertainment venues.

The Land Authority is committed to making The Point a welcoming destination for everyone and a place that will benefit current and future generations of Utahns. With the help of world-class partners and continuing public participation, The Point will be known globally and loved locally.

UTAH REGIONAL ECONOMIC DEVELOPMENT OFFICES

Beaver County Economic Development

105 East Center Street, PO Box 789 Beaver, UT 84713

435-438-6490

rpyles@beaver.utah.gov beaver.utah.gov

Box Elder County Economic Development

1 South Main Street, Suite 20 Brigham City, UT 84302 435-734-3331

boxeldercounty.org

Cache Valley Chamber of Commerce 5 Main Street, PO Box 3338 Logan, UT 84323 435-752-2161

info@cachechamber.com cachechamber.com

Carbon County Economic Development

120 East Main Street Price, UT 84501 435-636-3295

cced@carbon.utah.gov

carbon.utah.gov/Business/Economic-Development

Cedar City – Iron County Economic Development

10 North Main Street

Cedar City, UT 84720 435-586-2770

dans@cedarcity.org cedarcity.org

Daggett County Economic Development

95 North 1st West Manila, UT 84046 435-784-3154

economicdevelopment@daggetcounty.org daggettcounty.org

Davis County Economic Development

61 South Main Street, Suite 304 Farmington, UT 84025 801-451-3279

edinfo@daviscountyutah.gov daviscountyutah.gov

Duchesne County Economic Development

50 East 200 South Roosevelt, UT 84066 435-722-4598

info@uintabasin.org uintabasin.org

Emery County Economic Development

95 East Main Street #107 Castle Dale, UT 84513 435-381-3565

kentw@emery.utah.gov emerycounty.com

Garfield County Economic Development

55 South Main Street Panguitch, UT 84759 435-676-1157

anne.excell@garfield.utah.gov garfield.utah.gov/departments/planningeconomic-development

Grand County Economic Development

125 East Center Street Moab, UT 84532 435-259-1340

agranath@grandcountyutah.net grandcountyutah.net

Heber Valley Tourism and Economic Development 475 North Main Street Heber City, UT 84032 435-654-3666

info@gohebervalley.com gohebervalley.com

Juab County Economic Development Agency 160 North Main Street Nephi, UT 84648 435-623-3415

brentb@juabcounty.gov juabcounty.com

Kane County Economic Development

26 North 100 East Kanab, UT 84741 435-644-2534

kfd@kanab.net kane.utah.gov

Millard County Economic Development Association

71 South 200 West Delta, UT 84624 801-727-3151

stuart@uacnet.org millardcounty.org

Morgan County Economic Development

48 West Young Street Morgan, UT 84050 801-829-6811

levans@morgancountyutah.gov morgancountyutah.gov

Piute County Economic Development

550 North Main Street Junction, UT 84740 435-577-2840

derickson@piute.utah.gov or kgleave@piute.utah.govpiute.org

Rich County – Bear Lake Regional Commission

69 North Paradise Parkway, Bldg. B Garden City, UT 84028 435-946-2198

cjensen@cut.net

bearlakeregionalcommission.org

Salt Lake County Economic Development

2001 South State Street, S2-100 Salt Lake City, UT 84114 385-468-4881

jyocom@slco.org

slco.org/economic-development

San Juan County Economic Development and Visitor Services

117 South Main Street, PO Box 490

Monticello, UT 84535 435-587-3235

egizler@sanjuancounty.org

utahscanyoncountry.com

Sanpete County Economic Development Assoc.

191 North Main Street, PO Box 148 Manti, UT 84642 435-835-4321

kevin@sanpete.com

sanpete.com

Sevier County Economic Development 250 North Main Street, Room 116 Richfield, UT 84701 435-893-0454

mrnash@sevier.utah.gov

sevierutah.net

St George Area Economic Development 610 Tech Ridge Drive St. George, UT 84770 435-612-2123

john@growsga.com growsga.com

Summit County Economic Development

60 North Main Street, PO Box 128 Coalville, UT 84017 435-336-3221

jjones@summitcounty.org

summitcounty.org

Tooele County Economic Development

47 South Main Tooele UT 84074 435-843-3160

webmaster@tooeleco.org tooeleco.org

Uintah County Economic Development

152 East 100 North Vernal, UT 84078 435-781-6767

swilkins@uintah.utah.gov

vernalutah.org

Utah County Economic Development 51 South University Avenue, Suite 117 Provo, UT 84601 801-851-8343

peggyk@utahcounty.gov utahcounty.gov

Wayne County Economic Development

18 South Main Street, PO Box 189 Loa, UT 84747 435-691-0173

adus@wayne.utah.gov waynecountyutah.org

Weber County Economic Development Department 2380 Washington Blvd Ogden, Suite 240 Ogden, UT 84401 801-399-8419

srussell@webercountyutah.gov webercountyutah.gov