Us Department Of Commerce Data Shows Utah As Best Positioned In The Nation For Export Growth
Published: 24th February, 2010
Source: Governor's Office of Economic Development
Author: Michael Sullivan
For Immediate Release
February 23, 2009
GOED Communications Director
US Department of Commerce Data Shows Utah as Best Positioned in the Nation for Export Growth
December was Utah’s largest single export month on record
Salt Lake City, Utah - The International Trade and Diplomacy Office (ITDO) of the Governor’s Office of Economic Development (GOED) is pleased with its 2009 year-end commodity export figures as announced by the U.S. Department of Commerce. Utah companies exported over $10.3 billion in 2009 which equaled their export dollars from 2008.
The economic challenges of the past year saw double digit export decreases nationally. Some western states were down 24-54 percent. The average loss for all states was 19.5 percent, with 12 states declining more than 25 percent.
Utah’s four year export average remains very positive overall. Over 2,400 Utah businesses involved in export held their own when compared to the rest of the country, leaving Utah as the number one state in the nation poised to lead the export recovery called for by President Barack Obama. The President recently called for a doubling of exports over the next five years.
“Utah is poised to lead the nation in export growth because of the sound business practices and innovative products of the State’s business community,” said Spencer Eccles, GOED executive director. “Utah’s competitive operating costs and focus on targeted industry clusters have shown consistent job growth despite the national downturn and many of those jobs we have added are in companies that export.”
Utah is beginning 2010 with signs of strength; as 2009 ended, the month of December was the largest single export month on record. "We see Utah companies, particularly our small manufacturing concerns, aggressively seeking global markets, to insure their future and to provide future jobs for Utahns," said Craig Peterson, GOED International trade director.
“Under the strong leadership of Governor Gary Herbert, Utah’s exports have again reached a new high. Having the top export performance in the nation last year reflects the hard work, excellent quality and deep commitment of the more than 2,400 Utah businesses that are seeking out international sales. We especially salute the estimated 85 percent of these Utah firms who are in the small to medium size businesses. The World Trade Center Utah plans to work even harder with GOED, our state chambers of commerce, EDCUtah, the U.S Commercial Service and our many other strategic partners to build on this superb record for Utah in 2010,” said Lew Cramer, President/CEO, World Trade Center Utah.
The following tables show the 4 year export increases and the business contraction by segment that occurred in ’08-’09 which has still left Utah export growth very strong overall as shown in the 2005-2009 table. The overall 2005-2009 export growth numbers incorporate last year’s changes:
Overall 2005-2009 % Change
Precious Metals: +153%
Medical Devices: +1%
Industrial Machinery: +25%
Aircraft Parts: +160%
All Commodities: +70%
2008-2009 % Change
Precious Metals: +22%
Medical Devices: -2%
Industrial Machinery: +5%
Aircraft Parts: -35%
All Commodities: +0.3%
Source: U.S. Census Bureau, Foreign Trade Division
About the Utah Governor’s Office of Economic Development (GOED)
The Governor’s Office of Economic Development (GOED) charter is based on Governor Gary Herbert’s commitment to economic development statewide. The mandate for this office is to provide rich business resources for the creation, growth and recruitment of companies to Utah and to increase tourism and film production in the state. The International Trade & Diplomacy Office in GOED accomplishes this mission through the administration of programs that are based around targeted industries or “economic clusters” that demonstrate the best potential for development. GOED utilizes state resources and private sector partnerships with organizations such as the World Trade Center Utah to fulfill its mission. For more information please contact: Michael Sullivan, 801-538-8811 or firstname.lastname@example.org
World Trade Center Utah (WTCU)
The mission of the World Trade Center Utah is to assist Utah companies into profitable global markets. It is a first stop trade information hub where a business can receive an initial analysis of their trade capabilities, challenges, and opportunities; referrals to the most relevant services; and access to essential educational events to increase their expertise. WTCU website also links to their weekly email newsletter Global Utah, and the only Utah International event calendar. For more information contact: Lew Cramer, 801-532-8080 or email@example.com