Michael Flynn, vice president for public development, says EDCUtah regularly brings in one or more representatives from companies recruited to the state for the quarterly investor updates. The representatives talk about their companies, the nature of their relocation or expansion projects, the types of facilities involved, why they are coming to Utah, the key factors in their decisions and what their needs are.
For example, the most recent investor update hosted David Carlebach, Goldman Sachs executive and Salt Lake facility site manager. Carlebach provided information about the expansion of Sach's Research Park facility and the key factors played into the expansion decision. More than 100 EDCUtah investors were on hand to ask questions of Carlebach and network with each other.
A prior investor update meeting featured Gregg Wassmansdorf, lead site consultant with Colliers International, who flew in to talk about Proctor & Gamble's selection of Box Elder County as the location for it's 300-employee plant that will make paper tissue and towel products for the western U.S. marketplace.
Another quarterly update event featured Martin Flaherty, vice president of Sephora Logistics, who talked about his company and the new distribution center it is opening in Salt Lake City. Sephora explored fourteen other geographical locations before deciding to locate in Utah and Flaherty highlighted some of the critical drivers in the final decision.
“We hold these quarterly updates because we want to make sure our private investors and public partners are well informed about our projects, that they feel good about what we are doing and that they can see the potential benefits to their organizations and the state,” Flynn says. “Also, we try to always provide our investors with contact information for our project wins so they can pursue potential business opportunities as these companies locate or expand in the state.”
During the quarterly update events EDCUtah also provides current information on finished projects, wins, losses and anticipated announcements or imminent activity.
For example, during the quarterly update event held last week at This Is The Place State Park, EDCUtah investors learned that 4,209 jobs have been created and 754 retained since July 2007, with four headquarter relocations to the state and build out of 2.5 million square feet of space. They also learned that projects pending announcement will add more than 700 jobs; capital investment to date totals more than $1 billion; there have been more than 90 visits from national site selectors and 22 visits from companies already located in the state; and that EDCUtah is currently working 251 open projects.
“These are valuable, dynamic meetings full of 'can't miss' information,” Flynn adds.
EDCUtah's next quarterly update event will be held October 22 from 4:30 – 6 p.m. Please save the date and anticipate forthcoming information regarding the location and featured speakers.