EDCUtah Update

Board of Regents - USHE December 11, 2009

EDCUtah Mission
To serve as a catalyst for quality job growth and increased capital investment by assisting in-state companies to grow and recruiting out-of-state companies to expand and relocate in Utah.
E C O N O M I C D E V E L O P M E N T C O R P O R A T I O N O F U T A H

Why Invest in Econ Devel E C O N O M I C D E V E L O P M E N T C O R P O R A T I O N O F U T A H City County State Private NGO Retail Development BEAR Entrepreneurship Tech Transfer Corp Recruitment IKEA Hexcel Omniture Fischer Scientific Proctor & Gamble School District Highways and Roads Medicare GOED & EDCUtah Local Parks & Recreation

The ED Process E C O N O M I C D E V E L O P M E N T C O R P O R A T I O N O F U T A H
Other organizations:
Universities/Colleges
USTAR
Industry Associations
World Trade Center Utah
Chambers of Commerce

T H E E C O N O M I C D E V E L O P M E N T C O R P O R A T I O N O F U T A H Recruiting & Retention Results

Recruitment Results (2006-07 to 2008-09)
Jobs Created/Retained 17,573/2,452
Square Footage 8,473,804
Headquarters 18
Capital Investment $5.7B
Site Visits 400+

Project Wins 2008-09
Microsoft
Cephalon
Duncan Aviation
First Wind
Hexcel
eBay
Reckitt Benckiser
Delta 7
US Army
Univ. Southern Nevada
Specialized Bicycle
TopTen Reviews
Global Parts Network
SA International
Boart Longyear
Jet Aviation
Sun Products/Huish
J.W. Pepper
Nelson Laboratories
GSL Mineral
Free Motion Fitness
GE Financial
Verisys

Projects by Industry E C O N O M I C D E V E L O P M E N T C O R P O R A T I O N O F U T A H 147 Active Projects Total Jobs in Active Projects – 35,532

Projects by Cluster Total - 70 Jobs in Clusters 18,107 E C O N O M I C D E V E L O P M E N T C O R P O R A T I O N O F U T A H

Recent Project Wins
Decho Corporation (dba Mozy, Inc.) – Project Infinity
90 jobs; 16,000 sf; $2.2M capital investment
Utah County
Edwards Lifesciences Corporation – Project Fusion
1,072 new jobs; 228 retained jobs; 166,000 sf; $27M capital investment
Salt Lake County
Quality Bicycle Products – Project Mountain Trails
100 jobs; 85,000 sf; $5M capital investment
Ogden

Recent Project Wins (cont’d) E C O N O M I C D E V E L O P M E N T C O R P O R A T I O N O F U T A H
Merit Medical
392 new jobs, $11M capital investment
West Jordan
Fairchild Semiconductor – Project Aubry
65 new, 475 retained jobs; $49.5M capital investment
West Jordan
Mediconnect
306 new jobs; $470K capital investment
Ephraim

Current Activity Summary
Recruitment activity is at an all time high.
Companies are hesitant to make announcements.
Over the last 60 days, we sense a change in people’s outlook.
Consultants have told us more projects are being “green lit.”
A tremendous amount of pent up demand exists.
When “it” turns, it will turn quickly.

T H E E C O N O M I C D E V E L O P M E N T C O R P O R A T I O N O F U T A H Higher Education & Economic Development in Utah

HE assist essential to Econ Dev
Understanding Utah’s HE capabilities essential to every ED project
Project Newton experience
Help us make case for recruiting by showing HE strength
Timely information needs
Graduation per institution for current year
Rankings of programs
Key program strengths of each institution, faculty
Number of graduates that stay in Utah

Workforce Development
Workforce Development
Strengthen Custom Fit program
Add more funds and seek skilled administrators
Role for EDCU in student career counseling
Industry jobs outlook for Utah and graduate demand based on recruiting activity and new arrivals
Alignment of curriculum with economic clusters
Better align CTE programs
USHE-wide recruiting fair
Very attractive to potential employers

Business & Tech Connections
Exploitation and tracking of language capability
Collect data on graduate language ability
How can we take advantage of this resource?
Tech Transfer – great tool for startups
Assistance with finding right locations, resources
Creative partnerships with communities to create well focused business incubators with clear links to HE
Proactive recruiting assistance from HE
Understanding existing corporate relationships that could be leveraged for recruiting, i.e. HP
Connecting with corporations that currently recruit Utah graduates

Business & Tech Connections
USTAR
Links to faculty spin out businesses
Support of industry-focused research areas
Sustain engineering initiative
Demand for engineering jobs continues to grow
Tracking of alumni
Where do they go, what companies, can we use them as tools for proactive recruiting?

Future Activity
Looking ahead to 2010
Slow, diverse growth – energy, mfg, dist
Projects will move ahead slowly
Great position relative to other states
Workforce education biggest ED issue
Must continue investing in economic development
A new landscape emerging

EDCUtah Update

by HigherEdUtah on Dec 21, 2009

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EDCUtah Update — Presentation Transcript