2023 ECONOMIC OUTLOOK SUMMIT RECAP: Here's what we learned.

• Author: Berriman, Nicole

ONCE PER YEAR, Utah Business hosts an Economic Outlook Summit to dive into the important issues facing our business communities. On November 17th, attendees gathered to learn from local leaders about company culture in a post-COVID world, how Utah's growth is affecting real estate, funding and investing in Utah, the future of energy and sustainability, and so much more.

This year's summit brought together experts who inspired us to build bigger companies, create a better culture, and affect change in our state. Below are just a few highlights from a handful of panels during this year's event.

KEYNOTE

Peter C. Foy I Chairman, Founder, & CEO I PCF insurance Services

People say, 'How did you get this culture when you went from 50 employees to 4,000 employees in four years?' It's because of the view that we take and believe in: Servant leadership makes culture special.

BUILDING UTAH: HOW UTAH'S GROWTH IS AFFECTING RESIDENTIAL AND COMMERCIAL DEVELOPMENT

During this panel, local real estate, building, and city development experts talked about the extreme growth Utah is experiencing and what it means for our state.

Alan Matheson | Executive Director | Point of the Mountain State Land Authority

If our population is going to continue to grow at this rate--double in the next 30 years in the Wasatch Front-people expect that we'll build a doubling of roads that we see now. Of course, that's just not an option. So we've got a lot of different solutions. One of them is the patterns of growth. We need to grow more compactly so that we don't have to rely as much on transportation systems.

HIGH INFLATION AND POSSIBLE RECESSION: HOW DO BUSINESSES PREPARE?

During this panel, national and local experts in inflation, wealth management, and the economy spoke about our new reality and how to move forward.

Dana Peterson | Chief Economist | The Conference Board

You have entire industries, for example--healthcare, restaurants, hotels, transportation, warehouses, manufacturing--where they don't have the workers. [Businesses are] throwing money at the problem and raising wages. But the thing is, somebody has to pay for that. It's you and I; it's households.

THE BUILDING OF NATIONAL BRANDS: HOW UTAH BRANDS HAVE BECOME HOUSEHOLD NAMES

During this panel, representatives from five major Utah e-commerce brands shared inspiring stories and advice about their businesses sweeping the nation.

Jeff Kearl | Co-founder & Chairman | Stance Socks

The best brands in the world...