Herbert announces inland port committee
During the third annual Utah Global Forum on Monday, Gov. Gary R. Herbert announced the formation of an exploratory committee to drive the development of an inland port in Utah.
This announcement follows the Kem C. Gardner Policy Institute’s recent study confirming the state’s potential to support an inland port — citing Salt Lake City’s geographic location, Utah’s robust labor market and infrastructure projects such as the airport expansion as important elements for success. An inland port is expected to support small businesses, manufacturing and economic growth statewide.
“Trade opens our landlocked state to millions of new customers and opportunities that would not be available in a closed economy,” said Derek Miller, president and CEO of World Trade Center Utah. “An especially important benefit of international trade is the relationships it forges between countries. Foreign trade is the key to economic prosperity and harmonious relationships worldwide.”
In his remarks Monday, Herbert highlighted Utah’s ever-growing global presence.
“Despite anti-trade, isolationist rhetoric at the national level, Utah remains committed to promoting international trade,” he said. “Fortunately, in expanding our business and influence internationally, we are aided by the fact that Utah is a leader in collaboration and partnership. We have a proven track record of finding solutions and building success through working together.”
Utah is ninth in the nation for export growth, one of few states to maintain a trade surplus. Approximately 22 percent of Utah jobs are supported in some way by international business. Research shows exporting firms are more productive and pay higher wages than non-exporting firms.
doTerra named international company of the year
doTERRA International, a Pleasant Grove essential oils company, was recognized Monday as the 2016 International Company of the Year by the World Trade Association of Utah. The announcement was made during the Utah Global Forum.
The Utah Global Forum annually honors one outstanding company nominated by parties not employed or affiliated with the company.
“Among the many attributes we found in doTERRA are its tremendous international growth and its dedication to helping communities throughout the world. This year alone, doTERRA hosted the largest convention in Utah history with 30,000 attendees from more than 38 countries,” said David Utrilla, president of the World Trade Association of Utah.
Utah 100 fastest growing companies released
MountainWest Capital Network announced and honored Firefly Automatix, Inc. as the fastest growing company in Utah for 2016 at the 22nd annual Utah 100 Awards Program on Oct. 18, recognizing the 100 fastest growing companies in Utah.
“We had a record number of companies vying for the 100 fastest growing companies in Utah this year — a true indicator of the business and economic success occurring in Utah. We recognize each company of the Utah 100 and congratulate them on their growth and success,” said Paul Skeen, chairman of the MWCN Utah 100 committee.
Of the Utah 100, the top 10 fastest growing include: Firefly Automatix, Inc., Lucid Software, Crest Financial Services, LLC, Auric Solar, Collective Medical Technologies, Inc., 1 Source Business Solutions, Pluralsight, IdealShape, BetterBody Foods & Nutrition, and Alder.
Additionally, MWCN recognized the 15 Top Revenue Growth and the Emerging Elite companies in Utah. Many local companies placed well on these lists. To see a breakdown of all the rankings, visit bit.ly/2016utah100.