Val’s Top 10 Highlights of 2016

VAL’S TOP TEN HIGHLIGHTS OF 2015 VAL’S TOP TEN HIGHLIGHTS OF 2016

Dear Legislators and Economic Development Partners:

I am happy to report a successful Fiscal Year 2016. I’ve included my top 10 highlights from the year, and they only scratch the surface of our economic success. The 2016 Annual Report includes the GOED story as well as the required budgetary information and data. I invite you to learn what we have accomplished this past year to enhance Utah’s quality of life and to help our great state lead the nation as the best performing economy.

Sincerely, Q. Val Hale

VAL’S TOP TEN HIGHLIGHTS OF 2015 VAL’S TOP TEN HIGHLIGHTS OF 2016

ONE TWO THREE FOUR FIVE SIX SEVEN EIGHT NINE TEN Unprecedented collaboration in developing workforce solutions. Initiated with the pilot Utah Aerospace Pathways program, we expanded and replicated this innovative model to other industries including diesel technician services, life sciences and technology. In fact, the model will be replicated in other states. Utah leaders have presented the Pathways program as a best practice before Congress and in Switzerland. The best-of-the-best team. I truly believe GOED has one of the best teams in the state. Managing Director Vicki Varela was just named National Tourism Director of the Year. She was awarded the honor before more than 800 of her peers at the U.S. Travel Association’s annual conference. Additionally, you’ll note some new faces with our staff and changing roles—all aimed at increased effectiveness and real results. GOED record-breakers. We have incentivized the most jobs in GOED history - over 9,000 jobs expected from incentives approved in FY 2016. We approved the most Rural Fast Track grants in a month this May; eight approved for five counties. We broke our own record again, ending the fiscal year with 10 grants approved in our July board meeting. Economy diversifies. We have seen major growth in solar energy, financial-tech services and other innovative sectors this past year. While it’s true the Silicon Slopes are booming, all six of Utah’s strategic industry markets are thriving. Particularly exciting is how many industry-leading companies are started right here in Utah. Infrastructure enhancements. From exciting broadband expansion in both urban and rural communities, to grant programs for improving recreation infrastructure, we see continual investment in a stable foundation for our growing economy and population. Additionally, GOED is pleased to be involved in the crucial Point of the Mountain Development Commission. Utah’s new aerospace association. Aerospace continues to expand rural programs, support innovative manufacturing and contribute to Utah’s supply chain. During this year’s Aerospace Day on the Hill, Lt. Gov. Spencer J. Cox and industry partners officially established the Utah chapter of the Aerospace States Association. International attention. Our International Trade and Diplomacy Office and partners led three trade missions and facilitated Utah business participation in six international trade shows. But especially important is the international attention from those who visit us. Last year we received 60 diplomatic visits from international delegations including China, Hungary, Nigeria, Hong Kong, France, Germany and the European Union. The indie film state. The Utah Film Commission has really helped put Utah on the map for indie films. Six independent projects were approved for incentives in June alone. Additionally, last year’s production of Blood and Oil was the first large network television series filmed in Utah for nearly a decade. Tourism reigns. Life Elevated, The Greatest Snow On Earth ®, and the most recently unveiled “Road to Mighty” campaign contributed to a continually growing tourism economy. Visitors spent upwards of $7.98 billion in Utah in 2014, and the state enjoyed its biggest ski season in history: nearly 4.5 million visitor days at our 15 ski resorts. An economic dynasty. Since 2008, Utah had the no. 1 best economic outlook, and the U.S. Chamber recently declared us the “most fundamentally sound” state in economics. CNBC ranked us the no. 1 state for business after ranking in their top 10 for years. Forbes ranked us no. 1 for business five out of the last six years. Not to mention the numerous accolades we receive for small business friendliness, innovation, startup growth and quality of life. Utah has built an economic dynasty.