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Welcome To UtahMarch 18, 2010

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Economic Development Corporation of Utah

edcUTAH

Creating jobs and capital investment in Utah

Public, private nonprofit partnership

Chartered in 1987

Statewide representation

Partnered with State of Utah in January 2005

230+ members

18 full-time staff

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Governors Office of Economic Development

GOED

Business creation, growth and recruitment

Governor re-organized Economic Development Office

Clusters formed

GOED contracted with edcUTAH in 2005

Solid partnership developed

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Why Utah?

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Why is Utah Hot?

1# Best Managed State Government – Pew Charitable Trust, 2008 Grading the States

Utah #2 Best Business State–Pollina Corporate, 2009 “Rebuilding American’s Economic Power”

Utah Ranked 3rd Best State for Business – Forbes.com, 2009 Best States for Business

Salt Lake City 3rd Best Performing City in America – Milken Institute, 2009 Best Performing Cities Index

Utah Ranked 5th for America’s Top Business States – CNBC, 2009 America’s Top States for Business

Salt Lake City 7th Best City for Jobs– Forbes.com, Best Cities for Jobs in 2009

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Why Utah?

• Workforce– Young– Highly educated

• Location– Crossroads of the West

• Expertise in key Industries

• Low Business costs and Business Friendly– Utilities and Taxes

• Quality of Life

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Demographics

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Geography Overview

Wasatch Front = 100 mile corridor

• Weber, Davis, Salt Lake & Utah

Population = 2.8 million Utahns

• Salt Lake MSA – 1,099,459

• Ogden/Clearfield MSA – 515,355

• Provo/Orem MSA – 506,413

• St. George MSA – 138,428

• Logan MSA – 114,488

• Rural Utah – 271,320

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Public Transit

3 Million+ Monthly Ridership

• TRAX Light Rail expansion

• East-West lines

• Downtown to SLC Airport

• Connecting cities in SLCounty

• FrontRunner expansion

• Salt Lake – Weber County

• Salt Lake – Utah County

Source: UTA (Sep. 2009)

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Key Demographics

Youngest state in the nation

• 20% of Utah’s population is enrolled in grades K-12!

• Median age – 29

Highly educated

• 27% with college degree

• 91% with high school diploma

Strong work ethic

• Average turnover rate – 11.2%

• Fewer sick days – 6th healthiest state

• Fewer work breaks – lowest percentage of smokers in the U.S.

Sources: Decision Data Resources, The Employers Council, United Health Foundation

The Gateway

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Ready & Stable Workforce

71% of in-state

Utah graduates stay in state– Utah Foundation

43% of out-of-state

Utah graduates stay in state– Utah Foundation

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High World Language Skill Set

Facts:

• Residents speak 90% of the world’s written languages

• 60% of public school students study a world language

• 180 languages are spoken by U of U students

• 80+ language courses are offered at BYU

• 77% of BYU students speak a second language

• 47% of BYU students have lived outside the U.S. for 1+ years

Sources: Utah State Office of Education, University of Utah, Brigham Young University

“Per capita, Utah is the most linguistically diverse region of the U.S.”

-Time Magazine

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Competitive Forces

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Business Focused Government

• State Priorities:

– Energy– Education– Economic Development

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Business Focused Government

• Life Sciences• Myriad Genetics• ARUP Laboratories• Nelson Labs• Merit Medical

• Software & IT• Omniture/Adobe• EBay• Disney Interactive

• Aerospace & Aviation• Hill Air Force Base• ATK• Hexcel Corporation

• Outdoor Products & Recreation• Salomon• Rossignol• Black Diamond

• Defense & Homeland Security• Hill Air Force Base• ATK• Northrop Grumman

• Financial Services• Zions Bank• Wells Fargo• Key Bank• Goldman Sachs

• Energy & Natural Resources• Rocky Mountain Power• Questar Gas Corporation• Firstwind• Raser Technologies

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Job Growth - Recovery

2.6% 2.6% 2.4% 2.2%

0.0%

-1.1%-0.3%

1.1%1.5% 1.5% 1.3%

0.8%

4.2%

3.0%2.4% 2.5%

2.2%

-0.7%

0.0%

2.8%

4.1%

4.8%4.5%

3.2%

-2.0%

-1.0%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008

Utah vs. U.S. Overall Job Growth Year-Over-Year Comparisons U.S.

UT

“Utah projected as one of three states to have full recovery by 2011” -IHS Global Insight, June 2009

Source: Governor’s Office of Planning & Budget

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Crossroads of the West

Source: 2003 Rand McNally Atlas

• 3 major interstates

• 1-day to 2-day delivery to western U.S.

• Full-service customs port of entry

• 2 major rail lines

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Convenient Airport Access & Travel

Source: Salt Lake Airport Authority

• Delta’s 2nd largest hub• 10 min. from downtown

Salt Lake City International Airport• 700+ daily flights• Direct to Tokyo & Paris

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Low Cost of Doing Business

82.890.1 91.6 92.8 96.6 100.0 104.2

122.9

0.0

20.0

40.0

60.0

80.0

100.0

120.0

140.0

ID NM UTAH NV AZ United States

CO CA

State Cost of Doing Business

Source: Milken Institute (July 2007)

4.5 4.9 6.2 6.8 7.08.6 9.9

0.0

5.0

10.0

15.0

ID UT AZ NM CO NV CA

Electricity

3.7 4.0 4.8 5.0 5.1 5.66.9

0.0

5.0

10.0

AZ CO ID NM UT NV CA

Industrial Rates ($/sf)

15.6 16.7 19.8 20.4 23.1 27.0 28.3

0.0

20.0

40.0

ID NM CO UT AZ NV CA

Office Rates ($/sf)

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Low Cost of Doing Business

Top 10 States

Bottom 10 States

Key

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Greatest Snow on Earth

Source: Ski Utah

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Outdoor Activities

Utah is home to 5 national parks, 7 national monuments,2 national recreation areas, and 6 national forests

Arches National Park Bryce National Park Canyonlands National Park Capital Reef National Park Zion National Park

Source: Utah Travel & Adventure

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Cultural Activities

Home to a Wide Range of Culturaland Performing Arts

Utah Symphony and Opera

Ballet West

Pioneer Theatre Company

Utah Shakespearean Festival

SUNDANCE FILM Festival

Repertory Dance Theater

Ririe Woodbury Dance Company

Egyptian Theatre

Mormon Tabernacle Choir

Children’s Dance Theatre

Source: Utah Travel & Adventure

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Examples ofRecent Success

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Recent Expansions

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Project Donut – Duncan Aviation• 657 new aerospace/aviation jobs in Provo• $58 M in capital investment

Project Hudson – Avalanche Software / Fall Line Studios• 565 new IT jobs in Salt Lake City• $15 M in capital investment

Project Gold Rush – Procter & Gamble• 1,000 new manufacturing jobs in Box Elder County• $540 M in capital investment

Project Jackrabbit – First Wind• 25 new energy (wind farm) jobs in Milford• $400 M in capital investment

Recent Expansions

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Project Topaz – eBay• 50 new IT jobs in South Jordan• $334 M in capital investment

Project Flash – Reckitt Benckiser• 100 new distribution jobs in Tooele• $32 M in capital investment

Project Heart – WorldHeart Corporation• 65 new & 35 retained life sciences jobs in Salt Lake City• $18 M in capital investment

Project Wellspring 2 – Cephalon• 50 new manufacturing jobs in Salt Lake City• $18 M in capital investment

Recent Expansions

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Recent Expansions

Thank You Goldman Sachs

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