Today, we stand on the shoulders of forward-thinking trailblazers who demonstrated economic leadership. These leaders emphasized fiscal discipline, created an attractive tax climate and invested in a talented workforce and top-notch infrastructure. All of this has been driven by a commitment to future community prosperity.
Working together to plan is Utah’s secret to success.
Because of these future-focused decisions, Utah now leads the national recovery as a global business destination with unparalleled life quality.
Utah began the year with significant economic momentum and an economy that is the envy of the nation. Utah job growth now ranks among the top in the country, every major industry is growing and unemployment is at a six-year low. The state of business in Utah is strong today.
Our economic vibrancy has also provided sizable state revenue growth, which provides an opportunity for the Legislature to address critical investment needs in people and in infrastructure.
However, the economic fundamentals that powered our recovery need renewed attention and investment to meet future growth. Clear warning signs in educational achievement and needs in our transportation infrastructure require investment now. We must also address our future tax structure, clean our air and continue to grow our economy as we focus on future success.
We continue to believe that a very purposeful, engaged and active business community plays a vital role in Utah’s future prosperity. We are committed to being a part of the solution, to building consensus and finding common ground.
As the 2015 legislative session convenes, the Salt Lake Chamber believes it is time to invest in Utah’s future. Utah’s business community doesn’t believe in hunkering down during the good times. We believe in investing in a prosperous future.
We call it the “2015 Opportunity for Economic Leadership.”
To take advantage of this opportunity, we believe Utah must make a landmark ongoing investment in Utah’s future workforce. We ignore clear education warning signs in achievement at our peril. We can invest now with the strategic investments and initiatives listed in “Prosperity Through Education,” the business community’s five-year plan for education. We act now or pay a dear price later.
We must also continue our commitment to invest in Utah’s transportation system to keep our competitive advantage moving people and goods. Specifically, we must address transportation funding through proposals that place an emphasis on user fees, address preserving future purchasing power, are multimodal and meet the critical needs of local governments.
Additionally, addressing today’s critical needs must be met with a concerted effort in the coming years to modernize and improve Utah’s tax structure.
During the session, many will try to pit these priorities against each other. It’s easy to be an advocate for one of these issues and neglect the others. But that’s not leadership. Leadership is navigating change and creating a better tomorrow. We have the opportunity to invest in Utah’s future economy this year, if we only have the will to do it.
As Utah’s business leader, the Salt Lake Chamber believes now is the time to focus on fundamentals, to invest, to go beyond the politically expedient and to do more than what is expected, to exhibit lasting economic leadership and to prosper.
We invite you to join us in taking advantage of this opportunity.
Lane Beattie is president and Chief Executive Officer of the Salt Lake Chamber, a position he has held since 2003. Terry H. Buckner is chair of the Salt Lake Chamber Board of Governors.