GOED Delivers 2019 Economic Development Strategic Plan

Pete CodellaNews

This summer, the Utah Governor’s Office of Economic Development (GOED) convened dozens of groups of Utah leaders and stakeholders to develop a strategic plan in response to a legislative request made in the spring of 2019. Through S.B. 172, the Utah Legislature asked for a detailed account of Utah’s economic development vision and policy priorities.

“This landmark effort produced a comprehensive and strategic economic development plan for the state of Utah. More than 100 Utah leaders, who gave generously of their time, contributed to the development of the plan to guide the state’s economic development efforts for years to come,” said Val Hale, GOED executive director. “The updated economic development vision, guiding principles and economic development policy pillars, along with a focus on collaboration and partnership, form the foundation for the new plan — ‘A Plan to Elevate Utah’s Economic Success.’”

Beginning in earnest in May 2019, GOED organized an Economic Development Strategic Plan Committee of nearly 25 individuals who worked with large groups of public and private sector leaders throughout the summer to identify and evaluate Utah’s economic challenges and opportunities.

The committee managed input generated from surveys of more than 430 Utah industry leaders. Input and recommendations were received by 17 subcommittees and used to help shape the ideas, strategies and recommendations incorporated into today’s final report. The document reflects the combined wisdom of Utahns who know most about the state’s economic development efforts and provides a focus for the future of economic development in the state.

The plan includes this statewide economic development vision statement:

“Building on its success, Utah will elevate the lives of current and future generations through an exceptional quality of life, provide economic opportunity and upward mobility, and encourage business growth and innovation. Utah is home to attractive, healthy urban and rural communities where residents and businesses thrive, and visitors feel welcome.”

The plan also summarizes fundamental principles the committee agreed should guide the state’s ongoing economic development efforts, and policies that serve as the plan’s pillars. It also identifies cornerstone initiatives reflecting legislatively mandated priorities to guide the strategic plan’s execution.

Four policy pillars were also identified in the plan:

  1. Strategic Industry Advancement
  2. Innovation and Entrepreneurship
  3. Talent Development
  4. Uniquely Utah

Cross-cutting efforts highlight how stakeholders can better collaborate and coordinate efforts to ensure Utah’s economic development policies are executed with maximum effectiveness and minimum duplication of effort.

Following Gov. Herbert’s direction, GOED enlisted the professional services of nationally known economic development experts, the Center for Regional Economic Competitiveness, to help facilitate and manage this landmark effort.

The plan is embedded below and can also be viewed on our Issuu.com channel.