Executive Director’s Message

By any measure, 2017-18 was another banner year for Utah’s economy. Many entities once again pointed to Utah as the nation’s leader in economic strength and vitality. Utah was a top state for job growth throughout the year with average job growth of 3.1 percent. The Hachman Index identified Utah’s economy as the most diverse in America, tying Missouri for the top spot. A state with a diversified industry mix is less likely to be impacted when one economic sector experiences recession. Because of our economic diversity, Utah will be less impacted in times of recession and can rebound more quickly than the nation when economic turbulence hits. The economic development tools provided by the Legislature have created an environment second-to-none, helping Utah achieve its many successes. With all the growth and success, however, come challenges. Chief among them is talent recruitment. The low unemployment rate has put stresses on industry across all sectors. Companies are struggling to find qualified workers to fill open positions. The Governor’s Office of Economic Development (GOED) is pleased to play a crucial role in Talent Ready Utah, created by the Legislature to bring industry and education together. The initiative will align education with workforce needs and help students become better prepared through work-based training programs. Tourism continues to generate tremendous revenues for the state. Last year, tourists spent over $9 billion in Utah, generating $1.3 billion in state and local taxes. The Office of Tourism continues its efforts to spread tourism throughout the entire state. And, speaking of rural Utah, the Office of Rural Development continued its efforts in promoting the Governor’s Rural 25K jobs goal to create 25,000 jobs in rural Utah before 2020. GOED hired Rebecca Dilg to oversee the initiative and manage the state’s support of economic development plans presented by the counties to the governor. All in all, the past year was another success for the record books. GOED will stay focused on its core mission and continue to meet head-on the challenges and opportunities stemming from Utah’s exemplary economic success.

vhale@utah.gov