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GOED STREAMLINING
Q. VAL HALE
EXECUTIVE DIRECTOR
RECENT ACCOLADES
#1 Best State for Business
#1 Travel Destination
#2 Broadband Speeds in U.S.
#1 Fastest Growing State
#1 in Workforce Quality
A+ Small Business Friendliness
UTAH: ECONOMIC LEADERSHIP
2.9%
JOB GROWTH
1.5%
NATIONWIDE
#1 economic outlook since 2008
#4 most diverse state economy
Sources: DWS, Bureau of Labor Statistics, ALEC.org
Our Vision: Utah will lead the nation as the best
performing economy and will be recognized as the
premier global business environment and tourist
destination.
Our Mission: GOED’s mission is to enhance quality of
life by increasing and diversifying Utah’s revenue base
and improving employment opportunities.
FY17 ACCOMPLISHMENTS
GOED incentivized companies that will generate:
• $149.6 million projected new state revenue
• $1.7 billion projected new state wages
• $753 million projected capital expenditures
• 5,072 projected new jobs
FY17 ACCOMPLISHMENTS
AEROSPACE & DEFENSE
31,390 jobs
FINANCIAL SERVICES
74,895 jobs
IT/SOFTWARE
68,184 jobs
LIFE SCIENCES
33,623 jobs
OUTDOOR RECREATION
7,116 jobs
FY17 ACCOMPLISHMENTS
$8.4 billion
total traveler spending
=$1.2 billion
state and local taxes
PRIORITIES
1. Continue focus on comprehensive metrics
2. Develop a process for streamlining GOED’s
programs
3. Implement a strategy to ensure success and
prosperity of future generations
STREAMINLING
• Maximize GOED’s efficiency to effectively fulfill
our core mission and vision
• Foster and support innovative strategies and
industry-led partnerships (i.e. Talent Ready
Utah, 25k Rural Jobs Initiative)
• Create a strong foundation for our economic
future
CHANGES
• Contract with World Trade Center for
international relations
• Wind down of Avenue H
• Sunset of Utah Broadband Outreach Center
RECOMMENDATIONS
•Private Activity Bond (PAB)
•State Science Advisor
FOLLOW US: @BUSINESSUTAH
BUSINESS.UTAH.GOV
THANK YOU

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GOED Streamlining

  • 1. GOED STREAMLINING Q. VAL HALE EXECUTIVE DIRECTOR
  • 2. RECENT ACCOLADES #1 Best State for Business #1 Travel Destination #2 Broadband Speeds in U.S. #1 Fastest Growing State #1 in Workforce Quality A+ Small Business Friendliness
  • 3. UTAH: ECONOMIC LEADERSHIP 2.9% JOB GROWTH 1.5% NATIONWIDE #1 economic outlook since 2008 #4 most diverse state economy Sources: DWS, Bureau of Labor Statistics, ALEC.org
  • 4. Our Vision: Utah will lead the nation as the best performing economy and will be recognized as the premier global business environment and tourist destination. Our Mission: GOED’s mission is to enhance quality of life by increasing and diversifying Utah’s revenue base and improving employment opportunities.
  • 5. FY17 ACCOMPLISHMENTS GOED incentivized companies that will generate: • $149.6 million projected new state revenue • $1.7 billion projected new state wages • $753 million projected capital expenditures • 5,072 projected new jobs
  • 6. FY17 ACCOMPLISHMENTS AEROSPACE & DEFENSE 31,390 jobs FINANCIAL SERVICES 74,895 jobs IT/SOFTWARE 68,184 jobs LIFE SCIENCES 33,623 jobs OUTDOOR RECREATION 7,116 jobs
  • 7. FY17 ACCOMPLISHMENTS $8.4 billion total traveler spending =$1.2 billion state and local taxes
  • 8. PRIORITIES 1. Continue focus on comprehensive metrics 2. Develop a process for streamlining GOED’s programs 3. Implement a strategy to ensure success and prosperity of future generations
  • 9. STREAMINLING • Maximize GOED’s efficiency to effectively fulfill our core mission and vision • Foster and support innovative strategies and industry-led partnerships (i.e. Talent Ready Utah, 25k Rural Jobs Initiative) • Create a strong foundation for our economic future
  • 10. CHANGES • Contract with World Trade Center for international relations • Wind down of Avenue H • Sunset of Utah Broadband Outreach Center
  • 11. RECOMMENDATIONS •Private Activity Bond (PAB) •State Science Advisor