Gov. Herbert calls state's financial growth 'team effort' at Utah Economic Summit


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SALT LAKE CITY — Strategic vision and prudent guidance have helped propel Utah to its status as one the nation’s most robust economies, according to the state’s top public executive.

Addressing an audience of about 1,000 businesspeople at the annual Utah Economic Summit at the Grand America Hotel in downtown Salt Lake City, Gov. Gary Herbert said the state’s long-term economic vitality will be based in large part to the thoughtful and careful planning of its civic and business leaders.

“It really is a team effort,” Herbert said. “I’m kind of like the quarterback of Team Utah. I recognize that the success of the team is dependent upon everybody playing their roles effectively.

“Today, Utah’s economy is the envy of the nation. Utah’s unemployment rate is the third lowest in the nation, (and) our private sector job growth rate is the highest in the nation,” he said.

Three years ago, the state set a goal for accelerating job growth by creating 100,000 private sector jobs in 1,000 days, a target that was reached last August, the governor said. Since then, that number has been exceeded by more than 10,000 jobs, he said.

Utah has also developed the fourth most diverse economy in the country and has been recognized as one of the top states for upward mobility, Herbert said. By employing proven fundamentals of economic success, Utah has created a fertile environment that is reaping “a bountiful harvest,” he said.


Today, Utah's economy is the envy of the nation. Utah's unemployment rate is the third lowest in the nation, (and) our private sector job growth rate is the highest in the nation.

–Gov. Gary Herbert


“Utah’s business-friendly climate and proven record of building companies have further served as a magnet in drawing a number of major businesses to Utah,” Herbert said.

Common sense leadership, he said, is a staple of the state’s long-term strategic plan to continue the economic growth that has helped Utah become among the most prosperous states in the nation.

Utah is currently the fastest growing economy in the nation, said Natalie Gochnour, associate dean at the David Eccles School of Business at the University of Utah. In noting that Utah boasts an unemployment rate of 3.4 percent, Gochnour described the state of the Utah economy as “stellar.”

She also said that providing the right kind of leadership is important to sustaining growth in the state in the years ahead.

“In our state, we have a lot of things going for us,” Gochnour said. “But if we don’t master leadership — that is the ability to set direction and align people behind a vision — you can’t get to that next level.”

She said having visionaries in the business community as well as in government will be required to manage the challenges and changes that inevitably occur over time.

“That’s leadership,” Gochnour reiterated.

Speaking on a panel discussing the role of women in leadership, Rep. Mia Love, R-Utah, said, “As women, we have to give ourselves permission to be involved in whatever areas we have talents in.

“You have to decide where you want to go, what you want to do and where your goals are,” Love said. “Leadership is actually giving people that vision and giving them the confidence to reach those goals.”

Whether it’s in education, health care, business, politics or any field, the result would be to enhance the proposed objective through proper governance and direction, she said.

“Too many times — and I’m guilty of this — you say, ‘What do I have to offer? Or somebody else can do this, or somebody else is more talented and can handle this.’ (Then) we, as a society, are not benefiting from somebody who could have been great,” Love said.

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