Save the Date for Our Next Quarterly Investor Update Meeting
We are finalizing the details for our next Quarterly Investor Update meeting, which will be held June 25 at the Easton Archery Center, 575 N. John Glenn Road in Salt Lake City. The event will run from 4-6 p.m. with networking and hors d'oeuvres beginning at 4 p.m. The Easton Archery Center is a state-of-the-art facility that just held its grand opening in April, and we are delighted for the opportunity to hold our event there. Register for the event here.
To appreciate the value of networking at our Quarterly Investor Update meetings, please read the Investor Spotlight following the feature story in this newsletter and see how Juan Diego Catholic High School and Electronic Arts (EA) made an invaluable connection.
Today's Economic Review also includes links to many of the ED-related news stories from the past week. As always, if you have comments, suggestions or topics you'd like to see in the Economic Review, please contact us by clicking the "Comments" link on the bottom of this page. Enjoy!
President and CEO
The Price Realty team outside the clubhouse at Eaglewood Golf Course.
Sandy Team Repeats as EDCUtah Golf for Grants Tournament Winner
Money Raised Will Help Fund Next Cycle of Community Match Grants
EDCUtah economic developers, investors and staff traded the boardroom for the links last week when 36 teams teed off in a shotgun start to begin the organization's annual Golf for Grants Tournament.
The June 4 event quickly got serious as the teams vied for the lowest score in a best-ball tournament on the par 71, municipal Eaglewood Golf Course in the foothills above North Salt Lake. About 200 golfers, sponsors and supporting staff devoted a day of golf and camaraderie to help raise funds for EDCUtah's Match Grants program, a state wide initiative that supports grassroots economic development efforts within cities, counties and other non-profit organizations. Tournament proceeds help fund meaningful economic development projects the organizations might not be able to afford otherwise. EDCUtah has raised more than $1 million for the Community Match Grant program since its inception.
"It would be hard to find a prettier setting for a tournament," said EDCUtah President and CEO Jeff Edwards from the fairway overlooking the Davis County communities below. "The tournament gets better and better every year, thanks largely to our wonderful teams, sponsors and prize donors."
So do the golfers. The Sandy City team of Nick Duerksen, Kasey Dunlavy, Randy Sant and Jason Burningham topped the leader board with a score of 51, winning the tournament for a second straight year. The Price Realty Group team II, comprised of Zach Anderson, Andy Moffitt, Lance Pendleton and Troy Hardy, finished second with a score of 54. And the Regence BlueCross BlueShield team, comprised of Jake Turley, Doug Peterson, David Lemperle and Chance Peterson, finished third, also with a score of 54.
Ricky Haynie won the closest to the hole and men's longest drive awards. Meanwhile, Theresa Foxley, the new managing director of corporate recruitment and incentives in the Governor's Office of Economic Development, won the women's longest drive award. .
Despite the many competing charity golf tournaments across the state, Golf for Grants remains a popular choice among EDCUtah's investors and partners because it is so valuable in helping advance the economic development agendas of communities and counties around the state.
"It would be impossible to have the economic development success we enjoy in Utah without the public/private partnership led by EDCUtah," said Steve Price, CEO of Price Realty Group, the tournament's platinum sponsor. "The partnership is unparalleled in the nation, and EDCUtah is a unique organization. We are honored to be part of this organization and tournament."
Last year Price Realty Group, which focuses on the industrial market in the northwest quadrant of Salt Lake City, negotiated rights to remain as platinum sponsor of the golf tournament for three more years, but because of its strong commitment to economic development and EDCUtah, Price Realty has decided to extend its Platinum sponsorship for an additional three years.
Charli French, business market account executive for CenturyLink, the tournament's tee-prize sponsor, also noted the unique partnership between EDCUtah and the business community. "EDCUtah is a great partner and a big part of our company," she said, adding that Eric Isom, CenturyLink's assistant vice president of public policy, serves on EDCUtah's board of directors and that the company has helped sponsor the golf tournament for more than six years.
R&O Construction, led by President Dale Campbell, has also helped sponsor the tournament for many years. "We've been long term supporters of EDCUtah and the tournament because we agree with the public private economic development concept and the work EDCUtah does," Campbell said. "I sit on the committee that makes the match grant selections, so I see how the money is used and how it benefits organizations in need."
Hunt Electric CEO Richard Hunt said his company enjoys the tournament because "it gives us the opportunity to visit and network with people we work with in a more casual and relaxed setting and creates some opportunities to build these relationships. Hunt Electric has been a sponsor of the tournament for many years and every year it proves to be a valuable event. We appreciate EDCUtah's focus on helping businesses come to Utah–it brings business opportunities to us as well."
After the tournament wrapped, teams gathered in the club house, to lunch on barbequed rib eye steak while thousands of dollars in prizes were raffled off. The more than 60 individual prizes included a one-year membership to the new Museum of Natural Curiosity at Thanksgiving Point, given by hole sponsor Hunt Electric; a Kindle Fire from Regence BlueCross BlueShield, Real Salt Lake soccer tickets from Sandy City; a Herman Miller work chair from Henriksen Butler; and skis from Rossignol and Black Diamond.
Many other generous prizes were raffled off by EDCUtah's sponsors and investors. A few city leaders also got in on the winnings. Layton City Mayor Bob Stevenson won a Tuacahn and Entrada at Snow Canyon prize package, while Davis County Commissioner John Petroff won one of two prize packages from Lagoon and Ogden City Business Recruitment Relations Manager Steve Fishburn walked away with a kayak from Lifetime Products and a basket of goodies from EDCUtah investor, the Girl Scouts of Utah.
Juan Diego Catholic High School: Preparing Diverse Students for Tomorrow's Careers
Ask some teenagers if they want to do computer programming and most will shrug. Ask if they want to create 3D digital animation on a website, design a video game or develop a phone app and suddenly, they're interested. Six years ago, Juan Diego Catholic High School developed an Academy of Sciences track of accelerated STEMs courses, independent research and extracurricular programs to cultivate such interest. The school became an EDCUtah investor shortly after, offering an education alternative for families relocating to Utah and seeking to build collaborative partnerships with businesses that need college-educated innovators proficient in STEM education.
It was during an EDCUtah Quarterly Investor Update meeting that Juan Diego was introduced to a new Utah transplant: Entertainment Arts (EA Sports, of Angry Birds fame). The school forged a partnership with EA animation director Paul Metcalfe, who noted that it was a challenge for him to hire creative people who not only possessed the ability to program, but who could work collaboratively as a team. With EA's support, Metcalfe began a series of "teach-ins" to introduce Juan Diego art, computer, music and TV production students to EA's process of game development, which uses concept artists, audio techs, modelers, animation programmers, planners, engineers and marketers.
Metcalf helped Juan Diego develop curriculum via his IdeaLab Education, LLC, to teach these tech skills in a fun, unique way. Together, Juan Diego and Metcalfe developed "GameLab," a summer videogame camp to inspire students to learn 2D and 3D technology. Metcalf then tested more advanced curricula through Juan Diego's Digital Multimedia class. Both were popular and attracted more girls, minorities and low-income students into tech programs, so much so that Juan Diego sought new funding from other EDCUtah investors to build similar K-12 STEM programs. The partnership between Juan Diego and EA is an example of how business and education can partner to create beneficial outcomes for both entities. More info on Juan Diego can be found at www.jdchs.org.
"Exploring the Myths and Misconceptions of Employer Sponsored Healthcare Plans." Hays Company Seminar. Keynote speaker: David Ross – executive vice president of Underwriting Services, June 12 from 1:30-4 p.m. (Little America Hotel, Salt Lake City). RSVP for this seminar by sending an email to firstname.lastname@example.org or by calling 801-505-6508.
Ban Bossy – Women, Work, and Leadership: An Evening with Anna Maria Chávez, 6-8 p.m. Zion's Bank Founder's Room, One South Main St. (Salt Lake City). Space is limited. To RSVP email email@example.com or call 801-716-5157.
Utah's Own Entrepreneurship Symposium in Kane County, 11:30 a.m. – 1:00 p.m. (Southwest Applied Technology College Building, 733 S. Cowboy Way, Kanab)
EDCUtah Quarterly Investor Update (Easton Archery Center, 575 N. John Glenn Road, Salt Lake City)
Moab On the Edge 3rd Annual Business Summit, 8:30 a.m. - 12:30 p.m. (Moab)
UTC 12th Annual Golf Invitational (Salt Lake Country Club). Sponsor and connect with more than 100 high-level executives from Utah companies.
Taste of the Wasatch Noon to 4 p.m. (Solitude Mountain Resort)
Girl Scouts of Utah hosts the Girl Scout National Convention (Salt Lake City)
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Board of Trustees
The EDCUtah Economic Review is a weekly publication of the Economic Development Corporation of Utah. It is distributed to EDCUtah partners and selected other government and civic organizations interested in Utah's economic development.
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In the News
Executive director of Governor's Office of Economic Development steps down
After nearly five years at the helm of Utah's economic development efforts, Spencer P. Eccles, executive director of the Governor's Office of Economic Development, is departing state government to form a private investment company.
(Utah Pulse) (Deseret News)
Company bringing 150 new jobs to Ogden
The sister company of one of America's largest auto insurance providers plans to set up shop in Ogden this year and bring with it 150 new jobs.
Theresa Foxley joins GOED
Corporate attorney Theresa Foxley has joined the Governor's Office of Economic Development as managing director of corporate recruitment and business services. She will oversee the business development functions of incentives, government contracting, bonding and business resources.
Winners announced for Governor's Excellence in Energy Awards at energy development summit
During the third annual Governor's Energy Development Summit, Gov. Gary R. Herbert honored three energy leaders for their contributions to the advancement of responsible energy development in the state.
O.C. Tanner launches new creativity lab
A local business institution that pioneered workplace recognition is launching a new facility aimed at developing the next generation of workplace innovations.
Lehi business and residential projects in various stages of production
Municipal leaders recently hopped on the city's bus, typically used for senior center trips, to take a two-hour tour of business and residential construction sites throughout Lehi.
Lake Powell rising a foot every day
A big snowpack that is being eaten away by high temperatures is causing the water at Lake Powell to rise a foot a day–good news for boaters and other water revelers.
Park City to host 2019 world freestyle championships
A unique, multi-resort pitch has netted the 2019 world championships for freestyle, freeskiing and snowboarding for Park City.
(Salt Lake Tribune)
Op-ed: Utah small businesses are watching Washington
Recent news that Rep. Jason Chaffetz is now working on a federal fix to close the online sales tax loophole put many a Utah small-business owner's mind at ease.
Final field of 16 professional teams named for Tour of Utah
The final field of 16 professional cycling teams has been set for the Larry H. Miller Tour of Utah with the announcement of five additional squads. The peloton will include six UCI ProTeams, which will travel to Utah for their first international competition following the Tour de France, along with three UCI Pro Continental Teams and seven U.S.-based Continental Teams. Five countries will send teams to "America's Toughest Stage Race" on August 4-10.
First Wind to sell power from Utah-based solar projects to Rocky Mountain Power
First Wind, an independent U.S.-based renewable energy company, has finalized seven 20-year power purchase agreements with Rocky Mountain Power, a division of PacifiCorp.
FUELogistics breaks ground on a $50 million, 36,000 barrel per day black and yellow wax crude oil upgrade facility in the Uintah Basin
FUELogistics has begun construction on a crude oil upgrade facility in Duchesne that will house its patented Low Profile-Fluid Catalytic Cracker technology designed to upgrade the waxy crudes coming out of the Uintah Basin.
The great outdoors is calling Utah entrepreneurs
Grow Utah, in partnership with Zions Bank, will host the Concept to Company Outdoor Recreation contest to award the best local outdoor recreation innovators with $40,000 in cash and support services.
Solar energy poised to blossom in Utah desert
It's got lots of flat land at high elevations bathed in abundant sunshine. So Utah must be booming with solar energy development, right? Wrong, but "utility-scale" projects in the Beehive State are about to take off, with several slated for construction next year, all on state and private land, according to speakers at last week's Energy Development Summit hosted by Gov. Gary Herbert.
(Salt Lake Tribune) (Deseret News)
Ground broken on new downtown theater in Salt Lake City
The movers and shakers in Utah's business and arts communities gathered last week for the official ground-breaking and naming of the new $116 million "Broadway type" theater in downtown Salt Lake City.
Poll shows Utahns feel immigration is good for state's economy
A new University of Utah poll shows that the majority of Utahns think legal immigration is good for the state's economic climate, while illegal immigration is a drag on the economy.
(Deseret News) (Salt Lake Tribune)
Utah Division of Air Quality looks at proposed rule for businesses
Members of the Utah Division of Air Quality met with various stakeholders Monday to discuss a proposed rule that would extend seasonal restrictions to businesses in several counties that use solid fuel burning appliances.
Partnership provides hands-on experience for tomorrow's innovators
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