SALT LAKE CITY LIFE SCIENCES PROFILE UTAH EDCUTAH 2018 ON THE COVER BIOFIRE FILM ARRAY TORCH The latest advancement in molecular disease diagnostics, the BioFire film array torch provides up to six times more sample throughput per square foot of benchtop space. It provides four comprehensive panels in one system, including Blood Culture Identifi- cation, Gastrointestinal, Meningitis/Encephalitis, and Respiratory. Photo source: BioFire
Salt Lake City is more than simply a place to build a business, it’s a place to build a life…or as we like to say, a “life elevated.”
As you explore where to build the next chapter of your business, I know there are many questions on your mind. Would your company thrive in a business climate consistently ranked top in the nation? Do you need a high-speed digital infrastructure, research universities, and a well-educated and diverse workforce to help you grow?
Ask yourself; do you want a place to more than simply work? Do you want your employees to enjoy a high standard of living in an area world renowned for outdoor activity and environmental beauty? Do you believe arts and culture can spark creativity and inspire the next great innovation?
Today, businesses from around the world see Salt Lake City as a place to grow and to find the talent they need. Those Jakie Biskupski who live here have, for generations, used their creativity to Mayor of Salt Lake City build businesses of every type and size. These businesses have secured a livelihood for individuals, families, and neighborhoods throughout Salt Lake City.
Salt Lake City is more than simply a place to build a business, it's a place to build a life or as we like to say, a "life elevated."
Good luck in your search and I hope to hear from you soon!
EDCUTAH COMMUNITY PROFILE EDCUTAH.ORG WASATCH FRONT
BOX ELDER EAST Drive time The Wasatch Front is the name given CACHE to Denver COUNTY to the main business and residential area of Utah. This small area contains 8 hrs. 77%* of Utah's population, creating a densely populated "city" roughly the SOUTH size of other large cities such as the Drive time Greater Sacramento, CA, to Las Vegas
WEBER RICH Charlotte, NC, or Pittsburgh, PA. COUNTY COUNTY 6 hrs. MAJOR UNIVERSITIES OGDEN 1 4 & COLLEGES 2 Weber State University
3 University of Utah MORGAN COUNTY DAVIS 4 Westminster College COUNTY Community Overview 5 Salt Lake Community College 6 POPULATION DEMOGRAPHICS Utah Valley University 7 Brigham Young University Salt Lake City Salt Lake MSA Utah 2 Total Population 193,744 1,186,187 3,051,217 APPLIED TECHNOLOGY GREAT 1 SUMMIT 1 SALT COUNTY COLLEGES (ATC) Annual Growth Rate 1.2% 1.5% 2.0% LAKE SALT LAKE CITY 2 2 Ogden-Weber ATC 4 A 1 2 3 Total Households 81,427 393,138 1,011,099 3 3 Davis ATC 4 5 1 3 2 4 5 Mountainland ATC Median Household Income $47,243 $62,192 $60,727 215 4 Median Household Age 30.9 years 30.7 years 29.2 years 3 SKI RESORTS SALT LAKE COUNTY 1 Powder Mountain
TOOELE 2 Nordic Valley COUNTY 3 Snowbasin WASATCH COUNTY LIFESTYLE HIGHLIGHTS 4 Park City Resort 5 Deer Valley LEHI 6 Brighton 6 7 ¥¥ Ranked #4 in science, technology, engineering and 73 math (STEM) job growth in the U.S., according to the 7 Solitude UTAH U.S. Chamber COUNTY 8 Alta PROVO 9 Snowbird ¥¥ Home to companies like ARUP Laboratories, Biomerics, UTAH 10 Sundance Stryker, Varian Medical Systems, and many others SALT LAKE CITY ASSETS LAKE UTAH TRANSIT ROUTES ¥¥ 10 minutes from Salt Lake City International Airport, a 89 MAJOR UNIVERSITIES & TRANSPORTATION FrontRunner Train major hub for Delta Airlines providing direct flights to long distance commuter COLLEGES Air major international destinations Trax Train 1 University of Utah, Salt Lake City 1 Salt Lake City International local/airport ¥¥ Strategic location at the intersection of Interstate 80 2 Neumont University 2 Skypark Airport 4 *July 1, 2015 census population estimate. and Interstate 15 provides easy ground transportation 3 Westminster College 3 South Valley Regional Airport throughout the United States. 4 Salt Lake Community College 4 Ogden-Hinkley Airport ¥¥ Robust public transportation system, with an electric Rail light rail system and commuter rail connecting FrontRunner Train MAJOR COMPANIES Research Park, universities, neighborhoods, and the long distance commuter A1 Associated Reg & University Trax Train international airport JUAB SALT LAKE CITY Pathology ¥¥ Established gigabit network, making business better, A2 Myriad Genetic Laboratories Road faster, and easier. High speed internet maximizes A3 BioFire Diagnostics Interstate 15 CARBON economic and innovative potential 4 Stryker Corporation Interstate 80 Varian Medical Systems ¥¥ Urban outdoor paradise including 90+ lush parks and 5 215 Interstate 215 miles of protected open space and trails RECREATION 1 Red Butte Gardens INFRASTRUCTURE Natural Gas Service 2 Hogle Zoo Broadband Fiber 3 Emigration Canyon City Creek Center, a 900,000 sq. ft mixed-use develop- DSL, Cable, and Fixed Wireless ment at the heart of downtown Salt Lake City 4 George S. and Dolores Doré Eccles Culinary Water EDCUTAH COMMUNITY PROFILE EDCUTAH.ORG Theater Industry Overview MAJOR EMPLOYERS STRYKER EXPANDS INTO SALT LAKE CITY Stryker, one of the world's leading medical technology COMPANY EMPLOYEES DESCRIPTION companies, decided to consolidate its operations to one
Associated Reg & University Pathology 2000-2999 Medical Laboratories strategic position in Salt Lake City, Utah. Their combined facility involves sectors in research and development as well Myriad Genetic Laboratories 500-999 Research and Development in Biotechnology as manufacturing neurovascular tools used in operations. Varian Medical Systems 500-999 Irradiation Apparatus Manufacturing Stryker chose Utah for its point of consolidation because Biofire Diagnostics 500-999 Research and Development in Biotechnology of Utah's regulatory environment, lower real estate costs, Bard Access Systems 250-499 Surgical and Medical Instrument lower taxes, lower operational costs and reasonable wages. Stryker also felt that the quality of workforce and workforce Ge Oec Medical Systems 250-499 Irradiation Apparatus Manufacturing training opportunities in Salt Lake City was higher than Genysis Brand Solutions 250-499 Medicinal and Botanical Manufacturing anywhere else they could move their operations. Salt Lake City has become Stryker's primary location for training ICU Medical 250-499 Surgical and Medical Instrument Manufacturing facilities, and people from all over the world fly to the state RB Manufacturing 250-499 Pharmaceutical Preparation Manufacturing to receive proper instruction on how to use their products.
Stryker Corporation 100-249 Surgical and Medical Instrument Manufacturing
RECENT LIFE SCIENCE ANNOUNCEMENTS BIOMERICS HEADQUARTERS IN SALT LAKE CITY
COMPANY JOBS / CAPITAL EDTIF TAX CREDIT COMPANY Biomerics is a leader in the medical device and biotech industries specializing in the design, INVESTMENT PERCENT / YEARS/ CAP FUNCTION YEAR development, and production of medical devices for diagnostic and interventional procedures. Starting in 2006, the company grew rapidly, opening offices in Utah, Minnesota, and Ireland. Recursion 215 / Not Disclosed No Incentive Pharmaceuticals 2018 Pharmaceuticals Production By 2015 customer demand had grown and Biomerics found a need to expand not only its Medical Device Biomerics 380 / $38,500,000 20% / 8 / $3,004,416 2017 manufacturing capacity, but its headquarter capacity as well. Having nearly equal headcount in Production Utah and Minnesota, two states with thriving life science industries, they narrowed down their decision between these two states. Stryker 540 / $100,000,000 20% / 10 / $3,393,272 Medical Device 2016 Production The cost of doing business and incentive Eclipse offerings were the two biggest decision 2,000 / $18,000,000 No Incentive Medical Application 2016 NanoMed Production drivers in selecting where to expand and establish their corporate headquarters. Varian Medical 1,000 / $29,000,000 20% / 15 / $7,100,000 Medical Device 2014 After two years of cost and benefit Production analysis, the company ultimately selected Salt Lake City, Utah for its corporate headquarters.
EDCUTAH COMMUNITY PROFILE EDCUTAH.ORG Education & Training MAJOR UNIVERSITIES & COLLEGES CUSTOM FIT TRAINING Stryker and many other life science companies chose Utah for their operation because of the custom fit training programs provided through Utah's Technology Colleges and Salt Lake Community College. Custom Fit Training partners select institutions with the local business community to provide customized employee training to businesses at an affordable cost. This partnership can benefit smaller entrepreneurial businesses as well as larger, established ones; training can take place either in a classroom setting or at the business location. The Utah State Legislature appropriates funds each year as an investment in Utah's economy through Custom Fit. UNIVERSITY OF BRIGHAM YOUNG UTAH STATE UTAH UNIVERSITY UNIVERSITY Salt Lake Community College SLCC has five campuses: three in Salt Lake City, one in West Jordan, and one SALT LAKE CITY PROVO LOGAN in Sandy. There are 60,000 students enrolled in over 120 programs. Primary 31,860 Enrolled Students 2,692 Enrolled Students 26,809 Enrolled Students workforce training programs include 7,783 Graduates 1,009 Graduates 5,086 Graduates Quality Improvement, Leadership, Public Institution Private Institution Public Institution Technology, and more. Expertise in Research, Genetics, Expertise in Business Teaching, Expertise in Business & Healthcare & Medicine & Healthcare
UNIVERSITY OF UTAH RESEARCH PARK
Salt Lake City is home to University of Utah, the state's flagship university. Established in 1968, University of Utah has over 31,000 students and programs and majors related to life sciences. The medical, dental, pharmacy, and nursing schools are located in the 320-acre Research Park adjacent to campus. The combination of the academic and professional life sciences makes Research Park a special environment for entrepreneurial growth, and encourages the transfer of University research and technology to the private sector for job growth.
Many leading biotech companies and research universities call Salt Lake City home, and we are excited to be a part of the diverse and growing life-science community here. The city’s business-friendly culture, investments in STEM education and the array of scientific expertise guarantees that Salt Lake City will be an important biotech and technology hub for decades to come. - Mark Capone President & CEO, Myriad Genetics Labor & Costs Profile
Life Sciences Employment Index TAXES SOURCE: taxfoundation.org This graph represents an index based on location quotients showing the large concentration of life science- 1 00 10 related occupations in Utah. Any occupation above the national average of 100 demonstrates a competitive 1200 8 1 8 advantage in Utah. 1 1
00 8 Research & Development in Biotechnology 21 1 0 00 Flat Rate Flat Rate Medicinal and Botanical Manufacturing Flat Rate
00 2 Flat Rate UTAH ARI ONA CALIFORNIA COLORADO UTAH ARI ONA CALIFORNIA COLORADO NATIONAL NATIONAL 8 Average Research & Development in Biotechnology 21 8 8 Medical La oratories 01 Property Tax (Collections per capita) Corporate Income Tax RD = Tax Credit on R&D Medicinal and Botanical Manufacturing MA = Sales Tax Exemption on Manufacturing SurgicalResearch & & Medical Development Instrument in Biotechnology Manufacturing 21 08 *GRT: Gross Receipt Tax
Medical La oratories 01 REAL ESTATE OFFICE SOURCE: RSMeans SOURCE: Loopnet IrradiationMedicinal and Apparatus Botanical Manufacturing Manufacturing 82 200 0 Surgical & Medical Instrument Manufacturing 08 Medical La oratories 100 National 200 300 400 500 01600 700 1 2
Average 1 1 82 Irradiation Apparatus Manufacturing
82 1 81 SOURCE: Jobs EQ 1 0 20 1 1 Surgical & Medical Instrument Manufacturing 08 1 28 1 80
12 1 1 1 Key$100 Life100 NationalScience200 Industry300 Wages400 500 600 700 1 8 1 Irradiation ApparatusAverage Manufacturing 82 1 0 11 20 Key industries were identified by their high location quotients, an indication of the concentration of the 1 SOURCE: Jobs EQ 100 10 $99,764 industry.80 $99,406 100 National 200 300 400 500 600 700 Average NATIONAL N A SLC BOSTON MINNEPOLIS RALEIGH SAN DIEGO NATIONAL SLC BOSTON MINNEPOLIS RALEIGH SAN DIEGO $10060 $72,344 $72,073 SOURCE: Jobs EQ Construction ($/sq.ft.) Lease ($/sq.ft.)* $62,511 $61,991 $64,940 $99,764 8040 $99,406 $51,697 $100 $51,282 REAL ESTATE INDUSTRIAL SOURCE: RSMeans SOURCE: Loopnet $46,084 2060 $72,344 $72,073
SLC UTAH SLC UTAH SLC UTAH SLC UTAH SLC UTAH 1 12 $99,764
80 $99,406 $62,511 $61,991 40 RESEARCH & MEDICINAL $64,940 & MEDICAL LABORATORIES SURGICAL & IRRADIATION APPARATUS
DEVELOPMENT IN BOTANICAL $51,697 MEDICAL INSTRUMENT MANUFACTURING 1 0 10 $51,282 60 BIOTECHNOLOGY MANUFACTURING MANUFACTURING $46,084 8 $72,344 $72,073 20 SOURCE: Jobs EQ $62,511 $61,991 12 8 SLC UTAH SLC UTAH SLC UTAH SLC UTAH SLC UTAH $64,940 8
40 102 $51,697 RESEARCH & MEDICINAL & MEDICAL $51,282 LABORATORIES SURGICAL & IRRADIATION APPARATUS DEVELOPMENT IN BOTANICAL MEDICAL INSTRUMENT 100 $46,084 MANUFACTURING 122 0 BIOTECHNOLOGY MANUFACTURING MANUFACTURING 1 20 8 1 0 108 8
SALT LAKE CITY 12
SLC UTAH SLC UTAH SLC UTAH SLC 1 8 UTAH SLC UTAH SOURCE: Jobs EQ 108 1 RESEARCH & MEDICINAL & MEDICAL LABORATORIES SURGICAL & IRRADIATION APPARATUS DEVELOPMENT IN BOTANICAL MEDICAL INSTRUMENT MANUFACTURING UTAH 1 02 0 2 NATIONAL N A Five-YearBIOTECHNOLOGY Life ScienceMANUFACTURING Employment ChangeMANUFACTURING SLC BOSTON MINN RALEIGH SAN DIEGO NATIONAL SLC BOSTON MINNEPOLIS RALEIGH SAN DIEGO SOURCE: Jobs EQ EmploymentNATIONSALT LAKE CITY change measures the average change8 8 in employment within a1 8 region over a five year period, Construction ($/sq.ft.) Lease ($/sq.ft.) from 2012 to 2017. 10 1 20 UTAH 1 02 SALT LAKE CITY 1 8 SOURCE: Jobs EQ NATION 8 8 The Life Sciences and Medical Device industries are alive and well in Utah. We appreciate UTAH 1 02 the support and commitment of the SLC Department of Economic Development to 10 1 20 develop a vibrant community dedicated to building and strengthening our industries. NATION 8 8 SOURCE: Jobs EQ Their partnership has played a significant role in our ongoing success. 10 1 20 - Travis Sessions CEO of Biomerics SOURCE: Jobs EQ SALT LAKE CITY EDCUTAH
Salt Lake City questions? EDCUtah questions? Project questions? Call Laura Fritts Call Theresa Foxley, Call Jake Berlin, Economic Development Director: President & CEO: Business Development Manager: 801-535-7299 801-328-8857 801-323-4247
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