2017 Business Expansion and Legislative Update
“It didn’t happen by chance,” said Governor Gary Herbert, “It happened because we worked hard together to make it happen.”
In his speech at GOED and EDCUtah’s Business Expansion and Legislative Update on February 8th, Governor Herbert referred to the amazing business climate in Utah that has drawn companies from all over the world, bringing jobs and investment to Utah. “The American dream is alive and well in Utah,” he said, “I’m proud to be the governor of the most successful state in America today, and I think the best years are ahead of us.”
The event was an opportunity to thank legislators for their support of a business friendly environment and incentive program. Representatives from KIHOMAC, Decorworx, Lucid Software and Duncan Aviation presented on reasons why Utah is such a great place to do business. “The city and state made it really easy for us,” said Ki Ho Kang, KIHOMAC President and CEO, in his commentary about their decision to make Utah the place for their expansion. KIHOMAC originally planned to create 70 jobs and invest $9 million, however, they have invested just over $17 million and will add nearly twice as many jobs as originally planned.
Decorworx, another EDCUtah & GOED project plans to bring 164 jobs to rural Utah, which is the equivalent of adding 3,500 jobs along the Wasatch front. Speaking of Utah’s expanding business environment, Luke Langford, Lucid Software’s VP of Strategy, stated that legislators in Utah “Are forward thinking to support programs like GOED and EDCUtah that provide the incentive to tip the balance for companies.” Lucid Software chose to expand in Utah over Silicon Valley due to the workforce, quality of life, and tax incentives that Utah provided them. Duncan Aviation’s project has expanded from an investment of $52 million to $72 million, and they’ve found that Utah has the quality workforce they were searching for. Although the focus of their businesses differs, all of the companies in attendance testified that they kept their business in Utah because they know it’s a state that wants to continue to grow.
Theresa Foxley, new CEO of EDCUtah, commented on the strong partnerships that exist in the state. She also introduced the “Fifty by Fifty,” a fully customizable tool that brings together the fifty metrics that are most important to business decision makers compared across all fifty states.
“We’ve got a great partnership here between the executive branch and the legislative branch, we’ve got a great partnership between the public sector and the private sector, and we’ve got a great partnership between the state and the local communities,” concluded Foxley. Overall, the event was a testament to the success of business in Utah due to the dedicated individuals that contribute their time and talents to making this the best place to do business in America.