The first meeting of the Governor’s Economic Development Coordinating Council
September 20, 2011
WHEN: TODAY, Sept. 20, 2011, 10:30-1:30
WHERE: Capitol Board Room, Utah State Capitol (east end, 2nd floor)
BACKGROUND: Introduced in the Governor’s 2011 State of the State address, the Governor’s Economic Development Coordinating Council was created to ensure the collective efforts of government and the business community are focused on jobs. In today’s meeting, Governor Herbert plans to make the key point that, in Utah, we recognize it is the private sector, operating in free markets, which produces jobs, opportunity, and prosperity for Utahns. Within government’s limited role, the Governor is expected to charge the council to promote public policies which lead to private sector job growth and economic expansion. The highlight of the Governor’s introductory remarks will be the announcement of the council’s singular focus: Create a plan to support private sector efforts which will result in the creation of 100,000 jobs in 1,000 days.
Per SB312, passed in the 2011 General Session by the Utah Legislature (http://le.utah.gov/~2011/bills/sbillenr/sb0312.pdf), the council shall:
1. Coordinate and advise on policies and objectives related to economic development and growth in the state.
2. Coordinate with state and private entities, including private venture capital and seed capital firms, to avoid duplication of programs and to increase the availability of venture and seed capital for research and development and growth of new and existing businesses.
3. Focus on technologies, industries, and geographical areas in which the state can expand investment and entrepreneurship and stimulate job growth.
4. Coordinate ideas and strategies to increase national and international business activities for both urban and rural areas of the state.
5. Plan, coordinate, advise, or recommend any other action that would better the state’s economy.
6. The council shall prepare and present an annual report of its activities to the governor and to the Legislature’s Workforce Services and Community and Economic Development Interim Committee.