Huntsman notes that Utah is already making progress in most of the areas he has designated as high priorities in his original 10 Point Plan. Job growth is strong and holding at 4.5 percent. However, he also notes that every state surrounding Utah has become more competitive and is booming.

“We have to attract the new businesses,” Huntsman stated. “We don’t have all of the services and accoutrements we need to keep an economy going.”

Huntsman said he will likely call a Special Session in mid-September to address the issues of transportation and completing the commuter rail. He also discussed the need for Utah to acquire the additional land necessary to complete the western highway corridor.

“In the future, we’ll be talking about a mega city of 400-500,000 people in the area of our current West Bench,” Huntsman said.

In his remarks, Huntsman also stressed the need for income tax reform that would move away from the current 7 percent tax rate to a flat rate of 5.3 percent. This question will be decided by Utah voters themselves, Huntsman says, and his intention is to have this done by the end of September.

Huntsman also invited feedback from the assembled group of 35-plus CEOs.

“We are having a hard time bringing people to Utah from India, France, Europe and Asia,” said Kirk Ririe, president and CEO of Idaho Technology. “This one element would make our life massively easier. We’re not producing enough technically-trained people.”

Dinesh Patel, managing director of vSpring Capital, also mentioned the need for additional angel investment funds. “In some regions, the problem is a total lack of venture funds,” he noted. “In Utah, the angel community is becoming a little more active to fill that gap.”

When asked to summarize Utah’s biggest challenges in the technology and life science arena, Huntsman said, “Our problems are capital, image and talent. These are the three areas I perceive to have deficiencies; they’re the areas where we need to make improvements.”

As to his specific ideas, Huntsman stated that he envisions another Research Park emerging in Utah.

“We have the land and the critical mass,” he maintains. “What we need now is to bring a social infrastructure.”

As to how technology companies can participate in enacting change, Huntsman praised the role the Utah Technology Council plays in keeping him up to date on pressing issues, and encouraged executives to be very involved. He also noted that his door is open. In summary, Huntsman believes Utah’s next “big thing” in the technology sector will not be an idea emerging from state government, but rather something coming directly from our region’s collective executive brains.

About UTC
As the premier professional organization for Utah's 3,700- plus technology companies, the Utah Technology Council (UTC) exists to form closer relationships with industry and community leaders, develop superior management talent, sharpen professional skills and help gain access to capital. For more information on UTC, please visit www.utahtechcouncil.org.

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Erin Young
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Judy Young
Utah Technology Council
T) 801.568.3500