In June 1992, 20-25 presidents or chief executive officers of companies wanting to expand or relocate will be brought to Utah for a familiarization trip with the goal of having them bring their operation to the state.
This is one of the events being planned by the Economic Development Corp. of Utah, a public-private organization whose goal is to attract new business to the state and help existing businesses.During EDCU's annual membership meeting in the Doubletree Hotel, Rick Thrasher, president and chief executive officer, said the event will be called "Utah Showcase," a new idea for states west of the Mississippi River.
It will cost $75,000 to host this event, Thrasher said, and include seminars, tours, social events and testimonials from officials of companies who have moved to Utah recently and those who have been doing business in Utah for many years.
Another event outlined by Thrasher in the 1991-92 EDCU action plan is an Oct. 22-24 trip to Los Angeles by 40 volunteers to contact companies that have expressed interest in expanding or relocating their companies. The goal is for teams of volunteers to contact more than 200 companies during the trip.
EDCU already is mailing letters to companies asking for volunteers who might be willing to spend about $1,000 of their own money to make the trip.
Thrasher said another national news media familiarization tour will be held in April 1992 when writers are brought in and told about the favorable business climate. EDCU's first tour earlier this year resulted in several favorable articles in national publications, he said.
Alan Rindlisbacher, vice president for business attraction, said EDCU will continue its advertising campaign in selected national magazines, the organization will have a booth in several trade shows and there will be a direct mail campaign.
John Hiskey, vice president of the Salt Lake County Division, said he will be stressing partnership in the next few months to integrate local government, chambers of commerce and private industry in the economic development arena.
One of the first events will be Sept. 19 Manufacturers Resource Fair at Salt Lake Community College to assist local manufacturers in being more competitive in the global market place, Hiskey said.
Verl Topham, chairman of EDCU's board of trustees, said it will cost $1.2 million to implement the action plan with 50 percent each coming from the public sector and private industry.
During the meeting plaques were presented to Herm Hughes & Son Construction Co., North Salt Lake, and R.C. Willey Home Furnishings for their business success and efforts in economic development. Accepting the awards were Gary Smith, chief financial officer of Herm Hughes, and William H. Child, chief executive officer of R.C. Willey.