2011-12 - 29 Project Wins, Success Breeds Success
Riding the momentum of the past few years, EDCUtah had yet another successful year and celebrated its 25th year of economic development efforts in Utah. The 2011-12 fiscal year saw 29 new companies expand or relocate to Utah. During this fiscal year, the state also received recognition from national media organizations, including Forbes naming the Provo-Orem metro area #1 for business and careers and CNN’s ranking Utah the second best state for business. Accolades such as these helped increase the state’s credibility and visibility with national and international companies. “Counting jobs created and retained, we secured more than 11,000 jobs for the 2011-2012 fiscal year,” said Jeff Edwards, then president and CEO of EDCUtah. “That is a new record for us. Success breeds success. Utah’s business climate has attracted a lot of attention in recent years, and we are finding now that businesses have moved beyond the question of ‘What’s going on in Utah?’ to making their decisions to locate or expand here.” A record $1.2 billion was invested in Utah over the course of the year.
Approximately 70 percent of new jobs added were in targeted industries, primarily information technology, with others such as aerospace and life science. Xactware, Hexcel, and Schiff Nutritional made plans for expansion of their existing Utah operations, for the IT, aerospace, and life science industry clusters, respectively. Xactware is a data analytics software company, whose products are used by insurance companies, contractors, specialty service providers, and others to estimate the building and repair process. “Xactware has experienced phenomenal growth by tapping into Utah’s hard-working and intelligent high-tech workforce. We’re pleased to be able to continue our growth and build on the strength of our Utah roots,” proclaimed Jim Loveland, president and CEO of the company.
Hexcel, an advanced composites company, likewise announced their plans to expand their existing manufacturing plant during the 2011-12 fiscal year. The West Valley City location is among the largest US operations for Hexcel, manufacturing carbon fiber and carbon fiber prepregs. This particular announcement was not only critical to Utah’s aerospace industry, but also the state’s outdoor products sector; both of which use carbon fiber to make many of the industries’ products. “I am very pleased Hexcel has chosen to undertake this major expansion of its already considerable presence in our state,” announced Governor Gary R. Herbert. “This expansion is a testament to Utah’s position on the leading edge of the advanced composites industry, and it will be a major boost to our efforts to accelerate private sector job creation.”
From the life science cluster, Schiff Nutritionals also announced plans to expand the company’s Utah based headquarters, manufacturing, and distribution facility over the next several years. The company offers quality vitamins, nutritional supplements, and nutrition bars both domestically and internationally. “We are excited about the opportunities ahead of us as we build premium brands and lead innovation in the nutritional supplements industry. We look forward to working with GOED to continue Schiff’s tradition of success in Salt Lake City and contributing to the region’s overall growth,” said Tarang Amin, then president and CEO, of the company’s decision to expand business in Utah.
In short, EDCUtah’s 25th anniversary was certainly one for the books, as job growth and capital investments continued to be the name of the game.