Letter from Jeff Edwards, President & CEO, EDCUtah.

• Author: Edwards, Jeff

2015 has truly been a year of unprecedented economic development accomplishments for Utah. Over the past 12 months, EDCUtah and their partners have been successful in helping 32 companies create and retain more than 20,000 jobs in the state. Additionally, these jobs will result in the deployment of more than $850M in capital and the absorption of more than 3.1M square feet of real estate. This activity helped propel the state's economy to "fastest growing in the nation" status for seven months of the year.

Throughout 2015, seemingly each week has brought some new recognition, announcement or accolade for the state. In October, Utah received the Best State for Business and Careers designation from Forbes Magazine for the fifth time in six years. In September, Fortune Magazine recognized Provo, Logan and Salt Lake City as the 1st, 2nd and 4th best cities in the US for career opportunities. In August, Salt Lake City was recognized by Entrepreneur Magazine as the Hottest Startup City in the Nation (that isn't San Francisco or New York).

As part of my responsibilities I travel around the world and meet with corporate executives, consultants and elected officials and share Utah's economic development story. The first question I'm asked without fail is always, "How does Utah do it?" Indeed, how does a state with a total population of three million people--with no deep water port, only a couple direct international flights and one of the largest school age populations anywhere--win deals against other major global markets? I don't pretend to have all the answers, but after more than a decade of being asked the same question, I feel comfortable that the following three reasons are major contributors to Utah's success:

1. A BETTER MODEL FOR ECONOMIC DEVELOPMENT

   Time and again, we hear from clients that the way we "do" economic development in Utah is different. Our ability to marshal support from all corners of government and industry is second to none, and it makes a pronounced difference in our ability to win a deal. "I've opened offices in dozens of countries on multiple continents and I've never had an experience like this" is one comment that stands out, made this summer by an executive from a large office project looking to open a shared service...