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