Economic Development Corporation of Utah (EDCUtah)

D.A. Davidson Companies, an EDCUtah Builder’s Circle investor, is a leading underwriter of tax-exempt real estate transactions, offering tailored solutions to global corporations, real estate developers, and local municipalities across diverse industries including hospitality, residential housing, healthcare, retail, and office sectors through its deep relationships with institutional investors in the capital markets. Thank you to Sam Elder and Benjamin Wilhelm for meeting with the team to discuss opportunities for collaboration!

Ten companies chose to expand in Utah between October 2024 and February 2025. As a result of these wins, EDCUtah exceeded our capital expenditure forecast for the year and landed well ahead of our forecast for square footage absorption. In this Prosperity Post, we highlight a few recent corporate expansions—and the EDCUtah investors who helped along the way. 

Earlier this week, EDCUtah’s Scott Cuthbertson joined A Bolder Way Forward’s discussion on Equal Pay, emphasizing that closing the gender pay gap is not only a matter of fairness but also essential for economic strength. The event was organized in part by Misti Williams Valente from Spherion, an EDCUtah investor. Key Data: • Women still earn 82 cents for every dollar men make. • Pay equity could boost global GDP by $12 trillion. • Over a lifetime, the average woman loses more than $500,000 in compensation due to the gap. • Companies with diverse leadership teams see a 47% higher return on equity. The takeaway? Pay equity drives business success, fuels innovation, and strengthens the economy.

Last week, EDCUtah joined Northern Utah Economic Alliance (NUEA) and Weber County Economic Development for the Northern Utah Development Symposium! It was great to hear from keynote speaker Kathy Mussio of Atlas Insight—who also joined us for ECONOMIX last November—on what makes Northern Utah a standout location from a site selection perspective. At EDCUtah, we’re dedicated to making the site selection process seamless through our robust and unbiased RFI process, providing the data and resources businesses need to make informed decisions. Thanks to all the panelists and attendees for an insightful discussion on Northern Utah’s economic future!

Utah’s economy is consistently recognized as the best in the nation. At EDCUtah, we help companies expand in or relocate to the Beehive State. Our project managers help them navigate the process of finding real estate, connect with service providers, analyze market data, and utilize state and local incentives.

We’re pleased to share that EDCUtah's Scott Cuthbertson will be a guest speaker at the upcoming Equal Pay Day event.   A big thank you to Misti Williams Valente and Spherion, an EDCUtah investor, for supporting this important event as a sponsor.   This event is open to all. Don’t miss the opportunity to engage in a meaningful conversation on March 25th at the Kiln. Be sure to reserve your spot today – sign up here: https://lnkd.in/gzCdWNd8

Utah’s ability to build depends on smart financial tools. EDCUtah President Scott Cuthbertson and Utah Alliance for Economic Development President Kaden Figgins are calling on Congress to protect a critical tax exemption that saves Utahns hundreds of millions on essential infrastructure. Repealing it would jeopardize the state's ability to grow and thrive economically.   Learn why preserving the tax exempt status of municipal bonds is vital for Utah’s future—and why your voice matters.   📣 Read and share their op-ed: https://lnkd.in/gnvyn-NK

News from a Utah project win: Facility construction is officially underway for Central States manufacturing! The company erected its first steel last month in Tooele City. EDCUtah supported the company’s decision to locate a new manufacturing facility in Utah – an expansion that is slated to bring up to 150 new jobs and $30 million in capital expenditure to Tooele, Utah, during the next five years.    We interviewed Central States CEO James Sliker about their decision to expand in Utah: https://lnkd.in/giS_Q7Bx Tooele City Corporation

Thanks to all the EDCUtah investors and guests who attended our quarterly Business Development Breakfast earlier this week! We were especially pleased to welcome representatives from OxEon Energy and Nucor Corporation, two recent Utah project wins.    Matthew Croshaw of 47G joined EDCUtah’s Joseph Wirthlin to present key findings from the aerospace, defense, and security industry impact report we produced for 47G. Additionally, Erin Farr and the BD team discussed the recent surge in Utah project wins.   EDCUtah’s Business Development Breakfast is an exclusive event for our investors, offering valuable networking opportunities and a closer look at EDCUtah’s corporate expansion pipeline.

Provo Airport’s letter code of PVU could be short for “Potential Vast and Unlimited”! Utah’s second-busiest commercial airport is also one of the fastest-growing regional airports in the United States. After working with EDCUtah Builder’s Circle investor Layton Construction on the construction of a new terminal in 2022, Provo Airport - PVU is embarking on a new expansion (also with Layton Construction) that will bring additional commercial flights to Provo City, Utah. We caught up with airport director Brian M Torgersen, PE, CM to learn more. Utah County Government