Utah's economy on the mend?

• Author: Francom, Sarah Ryther
• Position: From the Editor

Despite the ongoing economic troubles and political unrest that have shadowed a real recovery, many economic indicators are signaling that Utah's economy is headed for brighter times during 2012. Numerous end-of-year reports suggest that Utahs economy is on a roll. Here's a look at some of the positive trends we feel are worth celebrating as we begin a new year.

First, Utah's unemployment rate is finally on a downward trend. After climbing to 7.6 percent, the states unemployment rate has now fallen to 6.4 percent. Most industries, in fact, are steadily adding jobs, according to the Department of Workforce Services. Unfortunately, the construction industry is still feeling the bulk of the economic crunch.

The Economic Development Corporation of Utah reported that its 2011-2012 fiscal year, which started July 1, is shaping up to be a record-breaking year. The organization announced that it has already added 17 new projects that are slated to bring in nearly 8,000 new jobs and more than $1 billion in capital investment to the state. "Our pipeline is as full as ever" said Jeff Edwards, EDCU CEO and president. "As of November we had 280 open projects, 11 new projects and 52 site visits. It goes without saying that the past six months have been quite busy and, looking forward, we expect 2012 to be an exceptional year."

Utahs exports are also experiencing an upward trend. According to the World Trade Center of Utah, the states exports have already experienced a 38 percent increase above last years export record. "We are pleased that Utah is still the only state in the U.S. to double its international exports in the last five years," said WTCU CEO...