CEO Guide to Site Selection

Utah

BOOMING IN THE BEEHIVE STATE

Utah-based businesses continued to outperform and increase investments in the state during the 2024 fiscal year. The Governor’s Office of Economic Opportunity noted the average capital expenditure per project rose compared to typical years due to increased investments in targeted industries like aerospace, information technology and advanced manufacturing. Between July 2023 and June 2024, 20 companies participated in the state’s tax credit program, making more than $2.4 billion in capital investments and creating more than 8,500 jobs. State officials note these companies will pay more than $6.2 billion in state wages over the next 20 years.

“Utah leads the U.S. in manufacturing job growth with a nearly 12% increase since 2019. Why is Utah No. 1? Because we’re a pragmatic and hardworking people who want to build a better future for our children.”
Spencer Cox
Governor

TAXES

0 %

top corporate income tax

# 0

on the Tax Foundation’s State Tax Competitiveness Index

EDUCATION

0 %

of adults 25 years of age and older graduated high school

0 %

of adults age 25 and older have a bachelor’s degree or higher

UNEMPLOYMENT RATE

0 %

RIGHT TO WORK STATE

Yes

QUALITY OF LIFE

# 0

POPULATION GROWTH

0 %

increase between 2020 and 2023

KEY INCENTIVES

Economic Development Tax Increment Financing (EDTIF): Offers a refundable tax credit for up to 30% of new state revenues over the life of the project, up to 20 years.

Rural Economic Development Tax Increment Financing (REDTIF): Offers a refundable tax credit of 30% and in specific instances up to 50% of new state revenues for up to two years.

Industrial Assistance Account (IAA): Offers a grant to provide assistance to companies that plan to make a significant economic impact to the state in strategic areas where infrastructure or talent development needs can contribute to greater economic benefits to the region or statewide.

Tax Increment Financing (TIF): Offers incentive dollars generate through the creation of a new “property tax increment” that a development will generate.

EDCs

Utah Governor’s Office of Economic Opportunity

business.utah.gov

EDCUtah

edcutah.org

Salt Lake City Economic Development

slc.gov/ed

City of Provo, UT Economic Development

provo.org/departments/economic-development

HIGHLIGHTED PROGRAM OR INITIATIVE

In April 2024, the Governor’s Office of Economic Opportunity announced the launch of the Startup State Initiative. The initiative and website aims to support
startups, small businesses and entrepreneurs by unifying the state’s entrepreneurial resources. It features things like a step-by-step business journey guide, a resource filter and a business plan generator along with a system to connect entrepreneurs to resources and opportunities.

BIG DEALS

  • Ecommerce company Pattern announced a $25 million expansion of its headquarters and more than 500 new jobs over the next 10 years in Utah County.
  • Minova announced in May 2024 a $24 million manufacturing facility and 58 new jobs in Tooele County.
  • Wolverine Fuels announced in July 2024 an expansion in Emery County that will create more than 340 jobs over the next five years.
  • Edwards Lifesciences announced in July 2024 a $34 million investment in Salt Lake City that will create more than 560 jobs over the next 15 years.
  • Torus announced a $10 million expansion and 172 new jobs in Salt Lake County.
    Strider announced in October 2024 an expansion and 152 new jobs in Salt Lake City

BIG COMPANIES

  • Fidelity Investments
  • Intermountain Healthcare
  • SkyWest Airlines
  • Supervalu
  • Teleperformance USA
Roundtable

Strategic Planning Workshop

1:00 - 5:00 pm

Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process

Executives expressed frustration with their current strategic planning process. Issues include:

  1. Lack of systematic approach (70%)
  2. Laundry lists without prioritization (68%)
  3. Decisions based on personalities rather than facts and information (65%)

 

Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns.  They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning.  Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process.  This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented.  If you are ready for a Strategic Planning tune-up, select this workshop in your registration form.  The additional fee of $695 will be added to your total.

To sign up, select this option in your registration form. Additional fee of $695 will be added to your total.

New York, NY: ​​​Chief Executive's Corporate Citizenship Awards 2017

Women in Leadership Seminar and Peer Discussion

2:00 - 5:00 pm

Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations. 

Limited space available.

To sign up, select this option in your registration form. Additional fee of $495 will be added to your total.

Golf Outing

10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS

General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.

The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.

To sign up, select this option in your registration form. Additional fee of $295 will be added to your total.