Utah Alliance MeetingJanuary 11, 2011

EDCUtah Mission

To serve as a catalyst for quality job

growth and increased capital investment

by assisting in-state companies to grow

and recruiting out-of-state companies to

expand and relocate in Utah.

E C O N O M I C D E V E L O P M E N T C O R P O R A T I O N O F U T A H 2

EDCUtah History

• Public-private nonprofit partnership• Founded in 1987• Statewide representation• Over 250 state, local and private investors• 17 full-time staff and two full-time consultants and two part-time

consultants• $2.8M annual budget• Project handling, research, public sector consulting, site

identification, marketing and public relations

E C O N O M I C D E V E L O P M E N T C O R P O R A T I O N O F U T A H 3

Why Invest in E.D.?

E C O N O M I C D E V E L O P M E N T C O R P O R A T I O N O F U T A H 4

The ED Process –Team Sport

E C O N O M I C D E V E L O P M E N T C O R P O R A T I O N O F U T A H 5

Supporting organizations:

• Business Community

• Universities/Colleges

• USTAR

• Chambers of Commerce

• Industry Associations

T H E E C O N O M I C D E V E L O P M E N T C O R P O R A T I O N O F U T A H 6

Our Core Business

Reactive Recruitment

Project leads are generated through:

• Site Consultants• Corporate Real Estate Brokers• Commercial Brokers• Local Communities• EDCUtah Investors• Governor’s Office of Economic Development• PROACTIVE RECRUITING

E C O N O M I C D E V E L O P M E N T C O R P O R A T I O N O F U T A H 7

Proactive Recruitment

E C O N O M I C D E V E L O P M E N T C O R P O R A T I O N O F U T A H 8

Established a comprehensive strategy which includes:

• Full-time person to manage Proactive recruiting• Indentifying preferred cluster industries and targets• Leveraging EDCUtah and GOED’s significant marketing

investment• Direct mail, Tradeshows and Advertising

Southern California Office

E C O N O M I C D E V E L O P M E N T C O R P O R A T I O N O F U T A H 9

Full Commitment to Proactive Recruiting:

• EDCUtah full-time in Southern California/West Coast

• EDCUtah’s proactive effort is focused nationwide but with a special emphasis on Southern California/West Coast

Proactive Recruitment Strategy

E C O N O M I C D E V E L O P M E N T C O R P O R A T I O N O F U T A H 10

Focus on companies who operate in one of GOED’s 7 identified cluster areas

• Aerospace and Aviation• Defense and Homeland Security• Energy and Natural Resources• Financial Services• Life Sciences• Software Development and IT• Outdoor Products and Recreation• Competitive Accelerators

Proactive Recruitment Strategies cont.

E C O N O M I C D E V E L O P M E N T C O R P O R A T I O N O F U T A H 11

• Recruit based on need, supply chain gaps and strategic opportunities

• Real estate based approach• Identify “unique” real estate in Utah and reverse engineer appropriate users

Proactive Recruitment Strategies cont.

E C O N O M I C D E V E L O P M E N T C O R P O R A T I O N O F U T A H 12

• GOED “West Coast Initiative”• Direct mail campaigns• Tradeshows

Recent Proactive Recruiting Activity

December 2010• Renewable Energy, AWEA Community Wind

• Northwest Recruiting Trip

November 2010• IT/Renewable Energy/Aerospace/Digital Media, Northern California

Recruiting Trip

October 2010• Renewable Energy, Solar Power International

September 2010• Life Sciences, Burrill Personalized Medicine Summit

• Renewable Energy/Life Sciences/IT, Northern California Recruiting

• Aerospace/Outdoor Products, Midwest Recruiting Trip

E C O N O M I C D E V E L O P M E N T C O R P O R A T I O N O F U T A H 13

Proactive Recruiting Results

Proactive Recruiting Trips 3

Tradeshow Recruiting Trips 3

Qualified Prospects 57

Transitioned Projects 5

E C O N O M I C D E V E L O P M E N T C O R P O R A T I O N O F U T A H 14

YTD (July 2010 – December 2010)

Future Proactive Recruiting Initiatives

January 2011• Life Sciences, BIO Manufacturing Summit

February 2011• Life Sciences, Medical Device

• Aerospace, AeroTech

March 2011• Digital Media, Game Developers Conference

• Advanced Composites, JEC

• Financial Services, Recruiting Trip

E C O N O M I C D E V E L O P M E N T C O R P O R A T I O N O F U T A H 15

Proactive Recruiting Summary

• Strategy is working• Long lead times - patience • Follow up is key and critical• Coordinated efforts• Continued success in 2011

E C O N O M I C D E V E L O P M E N T C O R P O R A T I O N O F U T A H 16

T H E E C O N O M I C D E V E L O P M E N T C O R P O R A T I O N O F U T A H 17

Questions