COMPANIES FROM AROUND THE WORLD ARE TAKING “STOCK” IN UTAH A reporter asked Governor Jon Huntsman about the buzz surrounding Utah in the world market place. Governor Huntsman noted, “Everything has its time to be ‘hot’ and this is Utah’s time to be hot.” Governor Huntsman recognized that with the proper tools, people and leadership the State was prepared to move into the upper ranks of the “Best Places for Business.” Over the previous decades Utah has been trying to share its value as a great business destination with varying levels of success. However, in 2004 Governor Huntsman working with the Utah Legislature created the Governor’s Office of Economic Development (GOED). Now Utah’s “Stock” has become a “Hot Commodity.” Is it the quality of life? The great vistas, the four seasons that affords world renowned recreation and outdoor activity, is it the productive workforce? Utah workers have long been considered one of the most productive and well educated populations in the country. Boasting the youngest workforce in America, at an average age of 28 years old, the State has several decades of power house success ahead of it.
Governor Jon Huntsman and Jason Perry, Executive Director of GOED, with the Silver Shovel award for “Best Small State in Economic Development.” Utah has won this national award two years in a row.
Recently, Utah was recognized by The Pew Center on the States as the “Best Managed State in the Nation.” A fiscally conservative legislature has worked hard with the Governor over the years to establish a well managed and progressive governmental platform that provides stability and predictability in spending, tax policy and a business friendly climate. If there is anything business leaders around the world crave, it is a safe, stable and predictable place to conduct business. Utah is that place.
GOED has targeted industries in specific economic clusters that show substantial promise for economic development and Utah leadership on the world stage. Those Targeted Economic Clusters are: • Aviation and Aerospace – Advanced Composites • Defense and Homeland Security • Energy & Natural Resources • Financial Services • Life Sciences – Personalized Medicine – Medical Products
Governor’s Office of Economic Development • Annual Report 2008
• Outdoor Products & Recreation • Software Development & Information Technology • Emerging Industries include: – Advanced Manufacturing – Logistics & Distribution – Nanotechnology
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