Utah’s United Kingdom Trade Mission Strengthens Local Economy
Governor Gary R. Herbert’s United Kingdom Trade Mission concluded yesterday, strengthening relationships abroad with companies that grow jobs here at home. The Governor and Utah trade representatives met with leaders from Wells Fargo, Level39, Rio Tinto and other prominent corporations and capital investment groups.
“For Utah companies, larger markets abroad translate into more jobs at home. I’m proud of the work we’ve done these last few days in the United Kingdom” said the Governor. “With Utah’s strong U.K. ties, it is essential we not only maintain current relationships, but build new ones that open more doors in the substantial European market. ”
The United Kingdom is the largest market in the world for Utah exports, totaling more than $6 billion in 2012. Zions Bank, Nu Skin, and Energy Solutions, in partnership with World Trade Center Utah and Office of Tourism, sponsored several of the business events in the U.K.
During the trade mission, the Governor met with London & Partners—The Official Promotional Organization for the city of London—where Olympic Officials reviewed the success of their recent games. During that meeting London’s Deputy Mayor, Sir Edward Lister, discussed “Vision 2020,” including future plans for London’s venues.
The Governor spoke at a luncheon of top-tier financial professionals in the United Kingdom’s Wells Fargo building. Governor Herbert’s message included a reflection on Utah’s productive workforce, AAA bond rating, low tax structure, stable regulatory environment and other business-friendly qualities.
Jim Johnston, Europe Middle East and Africa (EMEA) Regional President for Wells Fargo, commented that he not only enjoys conducting business in Utah; he loves Utah’s high quality of life, which includes skiing at Utah’s Alta ski resort.
The Governor also met with Rio Tinto CEO Sam Walsh and discussed Foreign Direct Investment (FDI) in the State. Concluding the evening meeting, he went on to meet with over 200 key business people, educational leaders and friends of Utah during a reception hosted at Sir Paul Judge’s Private Residence. Sir Paul Judge founded the Judge Business School at University of Cambridge and is a good friend of Utah. Utah’s Office of Tourism was also recognized at the reception with approximately 80 guests in attendance.
The United Kingdom is the seventh largest economy in the world at $2.3 trillion, and is Utah’s largest market for exports. As business relationships are strengthened and cultivated through this trade mission, Utah exports to the United Kingdom are expected to rise.