Fox File #51 "Global Strategy & Outreach Goes Global"
The Fox Files is a weekly message from EDCUtah President & CEO Theresa Foxley.
I’ve talked before about our Global Strategy and Outreach (GS&O) program, where we research high growth companies and actively pitch Utah. Our thesis is that if at some point in the growth cycle those companies are connected with Utah’s “sales team," our market will rise to the top of the list as they think about place decisions. Some of my favorite stories from our GS&O recruiting missions include instances where we walk into a room with an executive and are asked, “how did you know we were thinking of expanding?” Very cool. We’ve had several companies announce expansions in Utah that went through our GS&O process, including Snapchat and Centrify, most recently. It’s rewarding for all of #teamUtah to be a part of those success stories.
We’ve focused our GS&O efforts to-date in markets where we have industry alignment, where there is logistical connectivity, and where Utah can solve a pain point for a company around labor, supply chain, real estate, etc. The formula has worked well for us in several domestic markets and we’ve recently piloted out the thesis internationally.
Our team has now completed 3 international GS&O visits and has brought home 7 projects and multiple leads. Most recently, the team was in Montreal on an aerospace and life sciences focused visit. From that trip, Colby Cooley, Jake Berlin, and Mayor Bob Stevenson of Layton generated 3 new projects and deepened our contacts within the Canadian market. We’ll continue to put GS&O resources into markets where we have direct flights, where we speak the same language, and where our industry expertise aligns.