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Economic Development Corporation of Utah (EDCUtah
Overview
The Economic Development Corporation of Utah (EDCUtah) is an investor-based public-private partnership that works with government and private industry to bring quality job growth and increased capital investment to Utah . EDCUtah assists in-state companies with expansion and recruits out-of-state companies to relocate to Utah . EDCUtah accomplishes its mission by providing companies with comprehensive economic data as well as access to key public and private contacts . EDCUtah serves as the point-ofcontact for companies considering a move to Utah .
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EDCUtah partners with GOED to handle the state’s business recruitment efforts . This strong partnership has proven to be very successful in recruiting businesses to Utah and links state government with local government and the private sector in a seamless manner . Businesses that visit Utah report that they are impressed with the level of collaboration they experience as they work with the state and local economic development organizations . These efforts help GOED meet their goal of improving and promoting the economic health of both urban and rural communities .
Jobs Created and Retained
During FY2015, 39 companies announced decisions to relocate or expand in Utah, which will add 8,402 new jobs, retain another 5,732 jobs and create capital investments totaling $851 .4 million when completed . Here’s a breakdown:
Jobs to be Created
8,402 Jobs Retained 5,732 Capital Investment $851.4 million Square-footage 3.5 million Headquarters Relocations 13
Business Recruitment
Over the past year, EDCUtah continued to ramp up its global business development efforts . As part of our efforts, we engaged in outreach to industry and site selectors in 15 markets across the country . We researched nearly 800 companies and made outreach attempts to more than 400 of them . Our team succeeded in converting 30 of these companies into viable project leads that we continue to work today .
EDCUtah also conducted business development recruiting trips, meeting with company executives and site selectors in Northern and Southern California, Washington and New York . GOED leaders joined EDCUtah in meeting with companies considering a potential relocation to Utah . In these meetings, the team developed lasting relationships with senior managers that will lead to future projects . Over the next 12-18 months, EDCUtah will continue to work closely with these companies as they contemplate their expansion plans . Other meetings laid the ground work for long-term relationships that may take years to pay off . One of the many benefits of having a low unemployment rate in Utah is that it allows us to be more selective in our recruiting efforts . We want to fill 100 percent of our economic development capacity, but with the right 100 percent . These targeted recruiting trips are just one way that GOED and EDCUtah are partnering to create proactive, unique economic development opportunities .
Fiscal Year 2015 Wins
• Consumer United • CSM Bakery Products • Wayfair • Engineered Wall Systems • Traeger Pellet Grills LLC • Goldman Sachs & Co. • Overstock.com • Oemeta, Inc • MarketStar • Viracon • MyTime • Maxam Inc. • Vista Outdoor Inc. • JSI Store Fixtures
Incorporated • Malouf Fine Linens • Advice Media • AAA • Armada • Allegiance • Young Living Essential Oils • 3DSim • Universal Forest Products • inQpharm • JBS USA Holdings, Inc. • Black Diamond • Alorica • Boxed Water is Better • CHG Healthcare • Foldax • Prosper • US Radiopharmaceuticals • Connolly • Frontier Communications • EMC Corporation • Giftry • Bed Bath & Beyond • Procter & Gamble • Health Catalyst • Prime Inc.
Industry Trade Shows and Events
EDCUtah also partners with GOED and other strategic Utah businesses to exhibit at trade shows and conferences in the U .S . and abroad . Having a strong Utah presence at industry trade shows supports GOED’s objective to attract new investors and companies while supporting the expansion of existing Utah businesses . Coordinating a Utah pavilion at trade shows like JEC Europe, a composite materials show in Paris each March, bolsters the state’s strong reputation in the advanced composites industry, and provides Utah businesses with an opportunity to develop relationships with potential customers .
In addition, EDCUtah executives attend conferences for professional site selection consultants . Attending conferences like the Site Selector Guild, CoreNet and the Industrial Asset Management Council, allows EDCUtah leaders to develop lasting relationships with influential consultants, keeping Utah in the forefront of their site selection process .
Summary
EDCUtah’s strong partnership with GOED is one of the reasons Utah has enjoyed such strong economic development success over the past year . The close day-to-day working relationship between the two organizations is more than symbolic . EDCUtah and GOED are fully integrated into each other’s processes, which translates into a seamless customer experience . Furthermore, Governor Herbert’s active role in economic development is certainly a key part of Utah’s economic development success . When a company visits Utah, they find everybody is working in the same direction, from Governor Herbert to the teams at GOED and EDCUtah to our partners in education, local government and the business community .
For additional information about the Economic Development Corporation of Utah visit edcutah.org or contact Jeff Edwards, President & CEO, at jedwards@edcutah.org or 801-328-8824
