Utah:
Economic Development Par tners
A Global Hub for Investment With David Carlebach, Vice President of International Investment World Trade Center Utah
Here’s a tip for global investors: Utah is at the tipping point! With recognition from Forbes as the ‘Best State for Entrepreneurs’ (2019), a new international airport, and the development of an inland port that will revolutionize global logistics, Utah is getting a lot of attention. More than just taking notice, global investors want in on the action. Utah businesses receive between $1 to $2 billion in foreign direct investment (FDI) each year. What’s more, about 50,000 Utah jobs are directly associated with foreign-owned companies. While these numbers are encouraging, there’s room for growth.
David Carlebach, Vice President of International Investment for World Trade Center Utah
New FDI has a significant impact on many aspects of Utah’s economy. The extra capital that accompanies international investment leads to growth and a rising tide of employment, taxes, infrastructure, and more that benefits the entire state. “As Utah emerges a global hub for trade, investment, and innovation, it’s transforming from its traditional role as the ‘Crossroads of the West’ into its future as the ‘Crossroads of the World,”’ said Miles Hansen, president and CEO of World Trade Center Utah (WTC Utah). “Connecting local companies and investment opportunities with international investors is a win-win-win for the local companies, the international partners, and all of us in the state thanks to the many benefits of international investment.” WTC Utah works to attract global investment and facilitate international partnerships to fuel innovation and business development. It focuses on technology, life sciences, and clean energy. Given the state’s diverse economy, WTC Utah gets involved in other industries, too. Our broad approach to FDI entails working with partners, including the Governor’s Office of Economic Opportunity and EDCUtah, to encourage international companies to create new establishments in Utah, and invest in existing businesses. Additionally, we promote opportunities for SMEs/startups to enter the U.S. market in Utah and institutional investors to invest in Utah VC funds. We support Utah startups directly and provide private support for public infrastructure projects.
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