EDCUtah reports FY2020 economic development successes & honors leaders

During its annual meeting held virtually September 22, the Economic Development Corporation of Utah (EDCUtah) celebrated significant successes of the past fiscal year and delineated COVID-related support it provided the state. In addition, the organization recognized community members Jay Francis, Ogden Mayor Mike Caldwell, and the Salt Lake City International Airport for their outstanding leadership in economic development.

In FY 20, in collaboration with partners such as the Governor’s Office of Economic Development and local economic development offices, EDCUtah won multiple expansion and relocation projects for high-profile companies such as Northrop Grumman, GoHealth, and Amazon Web Services. The hard work of the EDCUtah team, its investors and partners, and the community led to:

*   32 project wins that resulted in a final decision to relocate or expand in Utah. While this number was below FY 19’s 40 wins, the combined projects represent higher job numbers, capital investment, and square footage absorbed.

*   153 net new projects, representing the total number of projects that entered EDCUtah’s pipeline in FY 20, defined as an interested company able to provide three of the following: number of jobs, capital investment, square footage, project timeline, and budget approval. This year’s number matches those FY 19 and FY 18, and represents a state record for three years running.

*   $1.22B in capital investments or “CapEx,” representing the total amount of money that relocating or expanding companies have committed to investing in Utah real estate and equipment over the life of their projects.

*   13,489 new or retained jobs, representing the number of jobs that companies have committed to create-13,189-or retain-300-over the life of their projects.

*   3.1M in square footage, representing the aggregate total of real estate footprint of project wins-how much physical space these newly-relocated or newly-expanded companies will ultimately absorb.

*   COVID-19 support – EDCUtah Research, Business Development, Marketing, and other staff assisted the state in forecasting and developing personal protective equipment (PPE) resources, surveying COVID-19 impacts on business, evaluating loan and grant applications, and communicating available programs. In addition, EDCUtah’s president and CEO Theresa Foxley serves on the state’s Economic Response Task Force.

“Overall, FY 20 showed what our organization is made of: Bright, hardworking, passionate people doing their best for Utah,” said Foxley. “EDCUtah staff worked on some incredible projects, surpassed our goals, and demonstrated value by deploying their talents for the greater good in the midst of crisis. Our team continues to demonstrate resilience and resourcefulness, and I couldn’t be prouder of them.” For more information, visit www.edcutah.org/ar<http://www.edcutah.org/ar>

In the awards portion of the meeting, EDCUtah recognized community members for their outstanding leadership in economic development. Jay Francis was honored with the Thayne Robson Award; Mayor Mike Caldwell received the Nick Rose Award; and the Salt Lake International Airport received the Larry H. and Gail Miller Family Cornerstone Award.

Steve Starks, CEO, Larry H. Miller Group of Companies, said, “With his decades of community service experience, Jay Francis brought deep insight and a focus to his role as Chair of the EDCUtah board. With Jay’s leadership, the organization recast itself into EDCUtah 3.0. He helped guide the organization to new levels of achievement, all while sharing his wisdom and experience with warmth and a sense of humor.”

“Since his first election as the mayor of Ogden in 2012, Mayor Caldwell has been a vocal champion for the entire Northern Utah region,” said Bob Stevenson, Davis County Commissioner. “Under his steady leadership, Ogden has become a top destination for the outdoor products industry while strengthening its roots in aerospace, distribution, and advanced manufacturing. Mike has also been a wonderful addition to the EDCUtah Board of Trustees and the NUEA board, consistently generous with his time and counsel and supportive of both partners and staff. While COVID may not have been the way he’d hoped to kick off his third term, we’re grateful to have his leadership for another four years.”
“Thank you EDCUtah for a tremendous honor that celebrates the hardworking women and men who have made this dream possible. I personally can’t wait for residents and visitors to enjoy the first international airport in the United States to be completely re-built in the 21st century. The ‘New SLC’ will be an asset to our community and economy for generations to come,” said Erin Mendenhall, Salt Lake City Mayor.

In addition, Ben Kolendar, Director, Salt Lake City Department of Economic Development, said, “We are proud of this recognition from our colleagues at EDCUtah. The new Salt Lake City International Airport is critical to our economy, allowing for more travel to our ample outdoor recreation, vibrant arts and culture scene, and thriving downtown with an estimated 5.5 billion dollars benefitting Utah’s economy. This truly is an engine for economic development.”