At EDCU, Recruiting at an All-Time High

During 2008, the EDCU has helped to grow several businesses in Utah, including Microsoft, Cephalon, Duncan Aviation, First Wind, eBay, Reckitt Benckiser, Jet Aviation, J.W. Pepper, Nelson Laboratories, GSL Mineral, Free Motion Fitness, GE Financial and Specialized Bicycle. Photo courtesy EDCUtah.org.

By Kelly Lux
Real Estate News Utah Editor

By helping to absorb more than 4 million square feet of real estate in the last year, the Economic Development Corporation of Utah is working to keep the state relevant and growing during the changing economic conditions.

"We have been discovered. We have been found out," said Jeff Edwards, president and CEO of the EDCU, at the December Association for Corporate Growth Utah Breakfast Meeting. "This is a great place to do business."

Along with the real estate absorption, close to 5,000 jobs have been created in the last year due to efforts by the EDCU, Edwards said. And during 2009, there will have been more than 130 site visits and 307 project leads generated by the corporation, more than the EDCU has ever seen in a single year.

"We've got more visits, we've got more inquiries, more projects than we've ever had," Edwards said.

With an increased number of inquiries, the EDCU has added staff to help with the increasing number of business owners looking to expand or relocate to Utah, Edwards said.

During 2008, the EDCU has helped to grow several businesses in Utah, including Microsoft, Cephalon, Duncan Aviation, First Wind, eBay, Reckitt Benckiser, Jet Aviation, J.W. Pepper, Nelson Laboratories, GSL Mineral, Free Motion Fitness, GE Financial and Specialized Bicycle. The EDCU is also currently working with several companies that are in the process of relocating to Utah, including Decho Corporation in Utah County with 16,000 square feet, Edwards Lifesciences Corporation in Salt Lake County with 166,000 square feet, Quality Bicycle Products in Ogden with 85,000 square feet and O'Reilly Autoparts in Salt Lake City with 245,000 square feet.

Although growth is down in the construction industry, Edwards said Utah is seeing other sectors, including distribution and technical, continuing to increase production.

"We have got so many other businesses and it is so diverse that when one sector is down other things are OK," Edwards said.

Recruiting activity in Utah is at an all-time high, according to Edwards.

"We are out there doing more than we have ever done," Edwards said.

The EDCU has been working hard to stay ahead of the curve. Their efforts, however, have been not been entirely visible with fewer projects being announced during the last year than in previous years, Edwards said. Many companies "are sitting on the sidelines" waiting for the national economy to recover before finalizing decisions to relocate to Utah, he said.

Notwithstanding, Edwards suspects many of those companies that have shown interest in Utah will be making a move soon. He said things have been changing over the last 60 days. And Utah is ready and waiting to accommodate the pent up demand for growth.

"Something has shifted. Something has happened," Edwards said. "We are seeing people who can't put off their decisions any longer. They have got to move forward."

And once they move forward, the economy will turn quickly, Edwards said. Many projects will get started in the coming year, especially in the energy, manufacturing and distribution sectors, Edwards said.

"When this is all over with, a new landscape will emerge. Places like Utah that used to be the quiet back waters are going to be the new shining stars," Edwards said. "Utah is in a great position to become one of the real leaders on the other side of this real tough time we are in."