Utah: A Global Hub for Investment

David Carlebach, Vice President of

International Investment for World Trade

Center Utah

Utah:

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.

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 Development 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.

Water investment delegation led by the Qatari Investment Authority, Qatar Ambassadors, and the US-Qatar Business Council. (2019)

For example, an exciting, privately funded infrastructure project is happening right in the heart of Silicon Slopes: a world-class sustainable land reclamation project at Utah Lake. Over the coming years and decades, the project is expected to create 20,000 acres of new land and housing — much of it affordable housing — for up to 500,000 residents.

Utah has had the fastest growing GDP in the U.S. over the last decade. Fortunately, the state has the human capital to support this, thanks to the youngest and fastest-growing population in the country.

Given the high quality of life in Utah, we have strong net inward migration from other states. In fact, 40% of our population growth comes from other states.

Together with Utah’s economic development partners, WTC Utah is committed to connecting Utah companies with global opportunities. To learn more, visit wtcutah.com or connect with me directly at dcarlebach@wtcutah.com. `