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OREM — Utah Gov. Spencer Cox said that the "secret sauce" to economic growth and prosperity in Utah is communities supporting and caring about each other. Culture, according to Cox, is important for entrepreneurship because people are more likely to take risks when there is something other than the government to catch them If they fall.
"If we take care of each other, we will have more entrepreneurs, and we will have more startups because people feel comfortable and feel like they have the ability to take a chance," Cox said
Utah leaders held a summit at Utah Valley University on Thursday to discuss the growth in Utah County and strategies for making sure the county continues to be a place people want to come to live and grow their businesses.
Cox told conference attendees that the biggest problem in Utah is not jobs — unemployment in Utah count is currently at 1.8% — but it is about making sure that the workforce is prepared for the jobs of the future.
As part of the summit, Cox and former Gov. Gary Herbert signed the Growth and Prosperity Compact of Utah Valley, an agreement that summit attendees and business leaders in Utah County were encouraged to sign.
"Our united commitment to plan for and manage growth — guiding our future economic prosperity, ensuring environmental sustainability, and preserving our quality of life — is critical to enriching the distinctive nature of Utah Valley where current and future generations will thrive," the compact says.
It explains that a task force will be established to evaluate six focus areas: business environment, education and workforce development, health care, natural resources, attainable housing and transportation and infrastructure.
Curtis Blair with the Utah Valley Chamber of Commerce said that every word of the compact was considered carefully. He said that there are multiple moving parts that need to work together to help a community prosper, which is one of the reasons he decided to get involved in the chamber.
"If you're in business, you're in politics, you're a part of the politics of the community, a community that can help shape policy, impact the trajectory of our economic growth so that our children, and our children's children, can experience the quality of life that you and I have enjoyed," Blair said.
Herbert said that economic prosperity in Utah is not just about this economy, it is also due to the culture and the "can-do spirit." He said Utah has the highest percentage of two-parent families, as well as the highest number of computers and pianos in the homes. Although growth is not the government's responsibility, the former governor said government does have a duty to make sure that the private sector has the ability to improve.
"Growth impacts everything we do in life. … I think our No. 1 challenge in our state, in all parts of our state, particularly along the Wasatch Front, is growth. How do we accommodate the growth without some kind of a diminution of the quality of life?" Herbert said.
Utah County Commissioner Amelia Powers Gardner said Utah is unique in its approach to growth and prosperity: People are able to succeed due to the generosity of individuals in the community. She said Utah will help give people the skills to succeed, no matter where they are coming from. She encouraged listeners to have a positive view of growth and work to find places for the people coming to Utah.
"I want us to stop thinking about growth as a problem, and I want us to start thinking about growth as the solution. We need workers for our booming economy," Gardner said.
She said that Utah County needs to show other places that its methods of growth are the best, through its success.
