COVID-19 Economic Roundup for the Week of May 11

ICYMI - To help our investors keep track, we've compiled some of the top COVID-19 business and Economic Response Task Force news of the past week.

The three new project wins for the month of May – Malouf, GoHealth, and Anglepoint – represent nearly 2,500 new jobs, $130 million in capex, and siginificant office and industrial space. These three projects mean we have exceeded our yearly goal for jobs, capital investment, and square footage, and puts us in record-breaking territory. “These projects — and this number of jobs — would be a huge day in any circumstance. But to have them close in the midst of this economic crisis is extra special,” says Theresa Foxley.

For details on the three projects, visit https://edcutah.org/news/

 

On May 16, most of Utah moved to "Yellow" risk protocols per the Governor's executive order. Here's a good overview.

 

We think Utah is going to prove to be a port in the storm for companies looking to expand in the next several years. Both Salt Lake City and Provo make the top ten in a Moody’s Analytics report that examines the potential to recover from coronavirus among the top 100 metro areas in the U.S. https://www.forbes.com/sites/laurabegleybloom/2020/05/12/ranked-us-cities-coronavirus-recovery

 

News from an EDCUtah investor - In a recent food drive Fidelity Investments Utah associates gave $743,307 in one month – one of the largest single private donations the Utah Food Bank has ever received, and which equates to 2.9 million meals for Utahns!

 

News from EDCUtah public sector investor Kane County – The Best Friends Animal Society has donated $225,000 to launch a grant program to help local businesses affected by the pandemic.

 

The State’s Unified Command received more than 3,600 requests from small businesses in every county for PPE Push Packs. The personal protective equipment (PPE) packages are on the roll to distribution points across the state! EDCUtah’s Stephanie Frohman has been on loan to support this project.

 

Thanks to the small group of EDCUtah public and private investors who test drove our first Executive Hour networking event May 14. It was a no-agenda, freewheeling discussion of economic development and recovery. We plan more of these in coming weeks.

 

The Utah Economic Response Task Force would like to check in again with the business community to see how conditions are evolving. A second version of a business impact survey released earlier this month is still live. We ask businesses to respond whether or not they took the first version of the survey more than a month ago. This updated survey should take less than five minutes to complete. The updated version is here: https://edcutah.az1.qualtrics.com/jfe/form/SV_5ndzPhPyZOqRivz

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Sun, 05/17/2020 - 17:23