Exports key to Utah’s longterm economic strength
September 24, 2014
Photo: Joe Canfield
When the pioneers first arrived in Utah, exporting goods was probably the furthest thing from their minds. They were too busy producing and growing enough to meet their own needs to even think about supplying goods and services to other territories, states or nations.
Things have certainly changed!
Today, at the Utah Global Forum, Gov. Herbert re-emphasized the importance of global customers to the long-term strength of the Utah economy. The governor also provided perspective on just how our state is performing today:
- Exports from Utah totaled $16.1 billion in 2013 of which $7.6 billion were value-add exports.
- From 2009 to 2013, Utah’s exports grew by 35.8 percent, compared to the national average of 29.5 percent.
- Utah businesses that exported goods were able to employ more than 150,000 Utahns across all sectors of our state’s economy.
As impressive as Utah’s export performance is, the fact is more than 95 percent of the world’s customers live outside of the United States. That is seven billion potential customers, 2.4 billion of whom are online.
Gov. Herbert wans to diversify our exports and increase the value of our total exports. In 2013, our value-added exports totaled $7.6 billion. His goal is to increase that by $1.4 billion over the next five years — to $9 billion.
In 2002, we welcomed the world to Utah for the Olympic Winter Games. Now Gov. Herbert says it is time to take Utah to the world.
All presentations from the Utah Global Forum are available at utahglobalforum.com