Governor Herbert says executing fundamentals will grow Utah's economy into the future

- SALT LAKE CITY, (ABC 4 Utah) – Business professionals came together at the Grand America Hotel Thursday to discuss the bottom line of Utah's economy.

"The success we've been having in this state is not by happenstance. We've got a clear plan, we've got our vision statement, we've got our four objectives we work on in the economic development side," said Executive Director of the Governor’s Office of Economic Development, Spencer Eccles.

PR and social media, workforce development and even air quality were all topics at The Governor's Utah Economic Summit.

The theme is executing the fundamentals.

"Competitive taxes, regulation reform, making sure we have sensible regulations, there is a need for regulations, but some just become a drag on the economy, we want to make sure we have a skilled labor force," said Governor Gary Herbert.

The Governor says those fundamentals have created one of the most diverse economies in the country, lifted our state out of the recession and lowered the unemployment rate to a five year low at 3.9%.

"We expect to see growth continue and maybe even pick up a bit in terms of job growth and summer could bring on a bit of momentum for that," said Carrie Mayne, Chief Economist at the Department of Workforce Services.

In Utah we've seen job growth in construction, professional and business services and leisure and hospitality.

The message of the summit is even though things are looking up, it's no time to rest.

"How do we move forward in the future? We've got to innovate to stay ahead of the curve and to be a place where the best and the brightest, both in business and in people want to reside," said Eccles.

The Governor named four top challenges we face in growing the economy into the future.

They are, air quality, transportation, water and education funding.

More Stories

Don't Miss

Video Center