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6.19.2016 Display.Indd www.slenterprise.com June 19, 2017 Volume 46, Number 46 $1.50 OF NOTE Panelist: We have enough workforce programs At the Salt Lake Chamber event, pan- can’t afford the risk of diluting ourselves Brice Wallace elists discussed programs at universities, further. Everybody knows this is an impor- The Enterprise high schools, the Governor’s Offi ce of Eco- tant topic and there are enough great orga- nomic Development, the Utah Department nizations and programs in existence today A gathering last week to discuss edu- of Workforce Services and industries and that I feel like we don’t need to go create cational approaches to solve workforce is- businesses. Perhaps there are too many, ac- more.” sues featured many oft-told ideas: Getting cording to Vance Checketts, vice president Checketts said he prefers to see better kids excited about various career options of Utah operations for Dell EMC, who said coordination and a stronger focus for suc- earlier. Having youngsters and their parents some programs are good but others are not cessful programs. He said he is hopeful that understand that manufacturing and other very effective and should face elimination. Talent Ready Utah can serve as a clearing- trades are clean and safe, countering current “The fi rst thing we need to do is not house or forum for all the initiatives across misperceptions. Pushing for more diversity start any new ones,” Checketts said. “That the state. Quarter (mile) pounder in the workforce. sounds kind of like maybe I’m a downer “We don’t need new programs, and But one panelist stood out by calling here, but, oh my goodness, there are so yet a lot of the existing programs proba- Fiat Chrysler is getting back into for fewer — not more — programs to ad- many great initiatives and so many great the muscle car business — and in dress workforce needs. people who want to do great things that we see WORKFORCE pg. 4 a big way. The company is launc- ing the 840-horsepower 2018 Dodge Challenger SRT Demon at a cool sticker price of $84,995. The power plant is a super- Summer utility charged 6.2-liter HEMI V8 engine mated to an eight-speed automat- ic transmission. On the drag strip, hikes add to the beast has already delivered a production-car-record 9.65-sec- ond quarter-mile. 0.5% CPI rise Higher summer usage for electricity Industry News Briefs and water caused utility rates to rise and pages 6-7 the Zions Bank Wasatch Front Consumer Business Calendar Price Index (CPI) showed a corresponding page 11 rise in May. The index ticked upward, ris- ing 0.5 percent from April. Communica- Business Tech tions costs also went up as phone compa- page 17 nies increased the prices of monthly plans. Other sectors experienced either modest increases or slight drops. The national Consumer Price Index increased 0.1 percent from April to May. Housing prices continued to increase at a rate of 0.2 percent from April to May due to higher apartment rental rates and Lift lines, like this one at Park City's King Con lift, were long this past ski season in Utah. The state's ski industry set a record with 4,584,658 skier-days — up 8.35 percent over the fi ve-year average. hotel rates. “With food prices maintaining consis- tency and only minor price changes in ar- eas like recreation, we should see consis- Longer season adds to record- tent discretionary spending being injected into the economy this summer,” said Scott Anderson, Zions Bank president and CEO. setting year for Utah ski industry “Consumer spending boosts sales for lo- cal and state businesses, and in turn helps fi ve-year average of 4,231,276. Utah’s economy continue to grow.” Brice Wallace A skier-day is defi ned as one person The rise in Utah’s overall CPI was The Enterprise visiting a ski area for all or any part of also driven by higher prices in the follow- a day or night for the purpose of skiing/ ing categories: Utah’s ski industry experienced a re- snowboarding. The lowest skier-day to- • Transportation rose in price by 0.8 cord season in 2016-17, with nearly 4.6 tal in Utah during the past 10 years was percent as rental car and car insurance million skier days. 3,825,090 in 2011-12. rates increased. The 4,584,658 skier days topped the “Mother Nature plays a huge part in • Recreation prices increased by 0.5 previous record of 4,457,575 during the our industry — our No. 1 marketing part- percent as pet care prices increased in an- 2015-16 season, according to Ski Utah. ner,” Nathan Rafferty, Ski Utah president, ticipation for the summer. The eight-month season — Snowbird said at a news conference last week. “I re- Utah’s price increases were slightly stopped its lifts June 11, making the sea- son 197 days long — saw the number of skier days rise 8.35 percent over Utah’s see SKI RECORD pg. 19 see CPI pg. 19 2 • June 19-25, 2017 • The Enterprise - Utah's Business Journal Report: Utah's economy benefits from globalization New research from the Kem C. Gardner Policy Institute at the University of Utah’s David Eccles School of business concludes that on the whole, the Utah economy is larger and more prosperous because of globalization. Globalization is defined as the process by which businesses or other organizations develop international influence or start operating on an international scale. Data on Utah’s foreign-born, refugee resettlement, interna- tional travel and international students also reinforce the positive economic impacts of globalization on the state economy, the reports says. “While some may portray free trade and open borders as threatening, the data suggest such a negative view is not war- Winners of the 2017 EY Entrepreneur of the Year for the Utah Region were announced recently at a gala in Salt Lake ranted for Utah,” said Jim Wood, Ivory-Boyer senior fellow at City. Winners are (left to right): Case Lawrence of CircusTrix, Sam Malouf of Malouf, Stephen Daly of Ivanti, Nate the Gardner Institute and author of the study. “Overall, the state Quigley and Vanessa Quigley of Chatbooks Inc., Andrew Smith of Four Foods Group, Derek Maxfield of Younique, Tim Ballard of Operation Underground Railroad and Karl Sun of Lucid Software. economy has seen positive effects from globalization.” Highlights from the report include the following: • Utah’s 2015 international goods exports (non-gold) sup- ported $3.5 billion in earnings and 84,367 jobs and added $6.7 EY honors 2017 top entrepreneurs billion to Utah’s gross domestic product. • Utah has been largely shielded from the economic shocks of Utah Region winners of the co-founder, Four Foods Group, and creating exciting innovations free trade due to the state’s low concentration of import-vulnerable 2017 EY Entrepreneur of the American Fork; Real Estate, Hos- that continue to make the Silicon manufacturing jobs. Year Awards were announced pitality and Construction catego- Slopes a great place to do busi- • Immigration is a vital source of labor supply for Utah employ- at a black-tie event at the Grand ry. ness.” ers. The state has nearly 172,200 foreign-born workers making up America Hotel in Salt Lake City • Stephen Daly, CEO, Ivanti, EY is a global provider of as- 12.5 percent of the Utah’s workforce. on June 10. The program recog- South Jordan, Technology catego- surance, tax, transaction and ad- • Approximately 7 percent of the 116,600 students enrolled in nizes business leaders in more ry. visory services. the Utah System of Higher Education are international students. than 145 cities in 60 countries • Karl Sun, CEO and co- The winners join the ranks of “This report reaffirms the need for global engagement to gen- throughout the world who have founder, Lucid Software, South 31 years of winners. As a group, erate sustained economic growth and reveals many assets to build disrupted industries, created new Jordan, Business Services catego- the 2017 Utah Region award win- on,” said Marek Gootman, fellow and director of strategic part- product categories, and success- ry. ners have made a significant mark nerships and global initiatives at the Brookings Institution. “The fully brought new innovation • Sam Malouf, CEO and on innovation and the economy, report reinforces the value of new efforts by business, government and technology to traditional in- founder, Malouf, Logan, Distri- the EY statement said. They em- and civic leaders to strengthen the international economic connec- dustries, EY (formerly Ernst & bution and Manufacturing cate- ploy more than 5,500 people and tions and competitiveness of Utah and its regions.” Young) said in a release. More gory. are a major source of economic The report is the inaugural edition of the Gardner Business than 1,000 of business leaders and • Tim Ballard, CEO and growth, adding nearly 3,000 jobs Review, which shares applied economic analysis by the David entrepreneurs attended the event. founder, Operation Underground in the past two years — a 93 per- Eccles School of Business. The report was shared with attend- Winners, as selected by an in- Railroad, Draper, Social Entre- cent boost in headcount. They ees of “Metro Solutions: A Framework for Regional Growth, dependent judging panel made up preneur category. have an aggregate revenue of Prosperity, and Inclusion,” an event hosted by Salt Lake County, of previous award winners, lead- • Derek Maxfield, CEO, You- more than $1 billion and an im- with participation by the Brookings Institution.
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