January 2010 Letter from the President

Dear UTC Members:

As we embark on a new year—and a new decade—UTC celebrates an extraordinarily productive 2009 and looks forward to even greater things in 2010 and beyond.

Based on the results of a comprehensive member survey UTC conducted in 2009, there is strong reason to be bullish on the direction of the technology industry in the Beehive State. As we announced at our 2009 Hall of Fame event, even in the midst of a deep and sustained economic downturn, fully two thirds of the survey’s responding companies experienced revenue growth last year, while more than 20 percent were holding steady. Less than ten percent of respondents reported revenue loss. The vitality and resilience of our companies fully justifies our faith in the future of Utah’s technology industry—the state’s primary economic growth engine.

As our 2009 legislative record attests, UTC continues to make a profound difference in the development of Utah’s technology industry and the legislative and business environment that sustains it. Each year, we research close to 1,000 bills, monitor over 50 and play an active role in supporting or opposing ten to 12 high priority bills with the greatest potential impact on the technology industry. Bolstered by strong member involvement on Capitol Hill, UTC’s leadership was crucial in issues ranging from quality workforce legislation to a $200 million extension for the Utah Fund of Funds; protection of the secret ballot (labor unions); continued funding of the Utah Science Technology and Research (USTAR) initiative; support for the Engineering Initiative and the World Trade Center; and several key pieces of health care legislation. In all, UTC was successful in 9 of its top 10 legislative priorities.

We would like to ring in 2010 with a special invitation to all of Utah’s technology companies and the executives who continue to grow them. We invite all existing members to step up your involvement in accelerating the industry’s growth. At the same time, we invite all prospective members to become a part of UTC so that you can play an active part in building this extraordinary industry and community.

Last month, we announced the appointment of 20-year industry veteran Michael Feldman to the newly-created position of Life Science Entrepreneur-in-Residence. We hope our life science companies will collaborate with Michael in expanding and executing the vision for building Utah’s global influence in medical devices, diagnostics and drug delivery, while expanding the frontiers of personalized health care.

In addition to its growth in the IT and life sciences arena, in 2010 UTC looks forward to working with many of you to build its third major industry area—Clean Tech. We are excited to see the entrepreneurial talent and resources congregating to this rapidly emerging arena, including a newly-formed investment firm devoted exclusively to Clean Tech.

There is a rich and compelling array of experience and influence available to you through UTC, from legislative support to unparalleled networking. The bottom line is that we need your involvement—and you need to be involved. Together, we will make 2010 the most productive year yet for Utah’s technology industry.

Happy New Year!

Richard Nelson
President and CEO
Utah Technology Council

P.S. I discovered a most impactful read over the holidays: “Younger Next Year.” If you likewise embrace these work/life principles, let me know as I’d like to start a regular breakfast discussion group.

Finally - I hope you will join us this Thursday for our Annual Open House. Click here to register.

Global Administrator | 1/12/2010 9:27:05 AM | 0 Comments