From: Economic Development Corporation of Utah
To: Scott Jenkins,
Subject: Economic Review -- The Biggest Small Conference You Likely Don't Know About
Date: Thu Jun 19 04:15:35 MDT 2014
Body:
     
  edcUTAH
June 19, 2014
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President's Message
Industrial Supply and Partners Promote Workplace Safety

Every day, 13 people go to work but never make it home. In 2012, some 4,628 U.S. workers were killed on the job while an additional 3.8 million workers experienced job-related injuries and illnesses. Unfortunately, most of these accidents were preventable. That's why Industrial Supply Company, in partnership with Workers Compensation Fund, Associated General Contractors and Sen. Karen Mayne's office, launched a month-long educational campaign to promote workplace safety.

June is National Safety Month, and each week Industrial Supply has been highlighting a different critical safety issue, sharing information on safety supplies and offering tips on how prevent accidents. The company has been promoting safety this week at its annual tool event, "Celebrating Safety at Toolapalooza." The event was held in Orem on Thursday and takes place today in Salt Lake City. There will be free demonstrations of safety equipment and tools, lunch and product giveaways.

Tyler Whipple, Industrial Supply's Safety Specialist and a certified Qualified Safety Sales Professional (QSSP), will be on hand to answer questions and provide information about Industrial Supply's safety services and trainings. Industrial Supply offers a wide selection of free training courses and educational programs to help broaden worker and employer safety awareness. The company's safety experts work with companies to make sure their facilities are up-to-date on compliance and health standards and provide assistance in helping safety professionals get certified on a variety of training topics.

Industrial Supply has served the construction, manufacturing, mining, government and industrial community for 98 years. The Utah-based maintenance, repair and operational (MRO) distributor offers the most up-to-date safety and compliance training, more than 50,000 MROP products and is an experienced partner that cares about workplace safety. Visit indsupply.com or its Facebook page for more information.

Also today, the U.S. Hispanic Chamber of Commerce is holding a convention kick-off reception at the Grand America Hotel Grand Salon in Salt Lake City from 5:30 - 7:30 p.m. The reception is designed to build excitement and garner publicity for the U.S. Hispanic Chamber's national convention, which will be held here Sept. 21-23.

The chamber invites you to participate in the kick-off reception and expects about 300 attendees, comprised of Utah business leaders, entrepreneurs, corporate executives, chamber leaders and members and Hispanic business enterprises. Register for the reception here.

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!

Jeff Edwards

Jeff Edwards
President and CEO

  
  

USU Small Satellite Conference
As Utah State University students, Erik Stromberg and Crystal Frazier worked on two DICE small satellites that were built for NASA and launched into orbit on Oct. 28, 2011. Now Stromberg and Frazier are Space Dynamics Laboratory engineers. Photo source: USU Space Dynamics Laboratory

Feature Story
The Biggest Small Conference You Likely Don't Know About

Unless you're a techno geek or involved in the aerospace industry, you probably haven't heard that the largest small satellite conference in the world takes place in Logan every August.

Consider it the biggest small conference most Utahns have never heard about. Nonetheless, it's a huge deal, says Dr. Pat Patterson, chairman of the annual AIAA/USU Conference on Small Satellites.

"The average Utahn may not know that Utah State University has been home to world's largest small satellite conference for 28 years, but there is an enormous percentage of people in the global small satellite industry that have either heard about or attended the conference," he says. "People in the industry are keen on knowing what goes on here."

Evidence of the conference's success? Just try to book a hotel room in Logan, Tremonton or Brigham City from Aug. 2-7, when the conference takes place. Most of the 1,200 attendees from 33 countries and about 400 different organizations have likely booked their hotels a year in advance. During the conference they'll spread out in Utah State University's Taggart Student Center for a variety of technical sessions and a trade show featuring more than 100 booths. Attendees include representatives from NASA and the European Space Agency and many of the global companies that support those organizations. They'll be in Logan this year to learn about "The Commerce of Small Satellites," which is the 2014 theme.

The primary markets for small satellites are within military, civil/commercial remote sensing and civil/commercial communication applications. According to a 2012 report by Futron Corporation, world satellite industry revenues totaled $177.3 billion in 2011, while overall space industry revenues totaled $289.8 billion and global telecommunications industry revenues totaled $4.23 trillion. The satellite industry is a subset of both the space and telecommunications industries and is growing at a faster rate.

"This year's conference will look at the exciting entrepreneurial endeavors that are enabled by small satellites, including the technical and business challenges of this worldwide phenomenon," says Patterson.

Opportunity, demand and emerging markets have sparked the imagination of entrepreneurs seeking to capitalize on the reality of small satellites to develop new businesses or government services. Supporting these exciting endeavors is increasingly available investment funding from many sources such as high-tech venture capital firms, angel investors and even crowd-sourcing, he explains. The new funding sources have allowed innovative companies, government administrators and researchers from within the small satellite community to aggressively pursue diverse concepts such as providing low-cost remote sensing data products at unprecedented revisit rates, prospecting near-Earth asteroids for precious mineral deposits and manifesting novel sensors as hosted payloads.

Proving there must be big money and big opportunities in small satellites, Google purchased Skybox Imaging for $500 million. "That's a big deal," Patterson notes. "Skybox Imagery is a commercial venture building small satellites in the 150-200 pound range that will likely transform Google Maps. Skybox will eventually image the entire Earth three times a day at very high resolution."

Keynote speaker Steve Jurvetson, a partner in the venture capital firm Draper Fisher Jurvetson, is one of the commercial space industry's most successful investors. He serves on the boards of Planet Labs, SpaceX, Synthetic Genomics and Tesla Motors and was the founding VC investor in Hotmail and the public companies Interwoven, Kana and NeoPhotonics. A self-described techno geek, Jurvetson is looking for financial returns from small satellite systems and as this year's keynote speaker will highlight how he came to the conclusion that investing in the small satellite arena is a wise investment strategy.

The small satellite market shows that good things do come in small packages. In the 1960s, during the genesis of the satellite industry, communication satellites were typically the size of a Volkswagen Beetle. In the 90s, and even up to today, large satellites are often the size of a school bus. The size and weight of these massive spacecraft add to the overall cost of building and launching them. Thanks to advancements in science and engineering, many of the same capabilities that were the sole domain of large, complex satellites can be provided in smaller, less expensive packages. Depending on the needs of the user, small satellites can be about the size of a loaf of bread–or smaller, up to the size of a dorm room refrigerator, says Patterson. Today's smaller satellites offer a variety of benefits, and because of their size, weight and power requirements, they are less expensive to build and easier to launch.

Small satellites can often piggyback on other launches. For example, a small satellite may piggyback on a hosted payload already set to launch, making the mission only slightly more expensive. "With small satellites, you can launch multiple missions with a little extra cost rather than multiple missions with a bunch more costs," Patterson explains. "Piggybacked missions are a byproduct of the efforts being made by the small satellite industry."

Utah State University's Space Dynamics Laboratory (SDL) is likely the biggest long-term benefactor of the conference. Patterson says that while SDL doesn't have a direct role in hosting the conference, its credibility, reputation, experience and success add weight to the conference and provide long-term name recognition among conference attendees. SDL has driven USU to the forefront of space research. Utah companies like ATK and L-3 also add to the conference through their participation and support. While ATK focuses on launch systems, L-3 builds miniature communication systems that fly on the small satellites.

The northern Utah economy also benefits from the conference, which brings in nearly $1 million in economic impact. The broader economic impact is shared across the state. Patterson says many conference attendees bring their families and like to visit Moab and other parts of the state while they are here.

"It's hard to put a number on the total economic impact," he continues, "but we know it is good for the community and for the state."

Investor Spotlight: Workers Compensation Fund
Calling on Utah Workers to Set a Safety Demonstration Record

An EDCUtah investor since 1995, Workers Compensation Fund (WCF) not only provides exceptional workers compensation insurance services to its policyholders, business partners and workers, but demonstrates a strong commitment to economic development and an uncompromising commitment to corporate responsibility, says WCF CEO and President Ray Pickup. "As part of that commitment we focus on workplace safety. That's why we have partnered with State Senator Karen Mayne and many others to promote workplace safety in June."

Pickup says Mayne is encouraging all employers and workers to join her at the State Capitol to set a Utah record for the state's largest safety demonstration. In the 2014 legislative session, she passed legislation to establish Utah Workplace Safety Week during the fourth week of June. Workers Compensation Fund will join Mayne to kick off Utah Workplace Safety Week on June 23, with several brief safety messages and an attempt to set a state record.

As Mayne notes, "The demonstration serves as a way to draw attention to the importance of workplace safety and the need to follow safe practices." Employers and workers are invited to learn more about safety in Utah's largest proper-lifting safety demonstration.

Pickup says the event will start on the Rotunda at the State Capitol at 11 a.m. with brief safety messages from Lt. Gov. Spencer Cox and from Mayne. Attendees will then demonstrate the four steps to properly lift an object. The kick-off is in partnership with the Utah Safety Council, Utah Labor Commission, Utah Transit Authority, Utah Department of Transportation, Industrial Supply and Workers Compensation Fund, with a variety of activities being hosted around the state to highlight Utah Workplace Safety Week.

"This past year in Utah, we had nearly 60,000 workplace injuries," says Pickup. "It's our responsibility as employers, workers, co-workers and friends to watch out for those we work with. I hope employers will embrace Utah Workplace Safety Week and strive to make every workplace safer."

Participants are encouraged to register to receive free safety vests.

Calendar

June 19
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 caugustyn@gsutah.org or call 801-716-5157.

June 23
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)

June 25
EDCUtah Quarterly Investor Update (Easton Archery Center, 575 N. John Glenn Road, Salt Lake City)

June 25
ACG Executive Roundtable Series hosted by Parr Brown Gee & Loveless, 12-1:30 p.m. (101 S. 200 East, Suite 700, Salt Lake City)

June 27
Moab On the Edge 3rd Annual Business Summit, 8:30 a.m. - 12:30 p.m. (Moab)

July 14
UTC 12th Annual Golf Invitational (Salt Lake Country Club). Sponsor and connect with more than 100 high-level executives from Utah companies.

Aug. 3
Taste of the Wasatch Noon to 4 p.m. (Solitude Mountain Resort)

Oct. 16-19
Girl Scouts of Utah hosts the Girl Scout National Convention (Salt Lake City)

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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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