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This is Chris Redgrave for Zions Bank Speaking on Business.
The reason the Utah Technology Council is called Utah's premier technology association is because … it is.
Under the leadership of president and CEO, Richard Nelson, Utah Technology Council's focus on the IT and Clean Tech sectors has supported the development of medical device diagnostics and biotechnology. UTC has grown a solid reputation with their CEO roundtables, industry educational events and networking opportunities, averaging 6-10 a month that are well known in the business community.
Richard is quick to point out the 7,000 technology companies in Utah … 5,000 alone in IT. Tech companies here have salaries that pay almost 60 percent higher than the average wage and represent approximately 103,000 jobs and counting. This "white hot" industry in Utah is 14.3 percent of Utah's total payroll and makes up almost 9 percent of our workforce. Even though Utah's unemployment number is one of the lowest in the nation — at 5.8 percent — in the tech sector, we have jobs going unfulfilled. In fact, we have to recruit outside of Utah because we're experiencing a shortage.
Richard says Utah Technology Council's three highest priorities are to grow and protect our companies, develop our local talent base and increase funding for these tech companies. As UTC expanded, it became clear that a separate aligned organization needed to be set up with a deliberate focus on medical device and biotechnology sectors. This association will focus on advocacy for the 1,000 life science companies while working hand-in-hand with Utah Technology Council. This initiative allows UTC to continue their work with the information technology sector.
You can't help but get excited when you talk about the bright spot Utah Technology represents in the nation. As Richard from the Utah Tech Council will tell you, the over 200 venture capital firms that pursue Utah's high-growth companies don't cost taxpayers, develop an industry … and create jobs. We have natural entrepreneurial DNA, and we're considered as the tech epicenter in the United States. It doesn't get any better than that.
For Zions Bank, I'm Chris Redgrave, speaking on business.
Utah Technology Council 2755 S. E. Cottonwood Pkwy., Ste. 500 Salt Lake City, UT 84121 801-568-3500 www.utahtech.org
