Why Utah?

Utah – The Place to “Bee” for Lifesciences

Forbes Magazine has recognized Utah, the “Beehive State,” as “The Best State for Business & Careers” six of the past seven years. Utah’s life sciences industry is a powerful, fast-growing driver of the state’s economy, making a significant contribution to innovation, job creation, employee compensation and state gross domestic product (GDP). With strengths in medical device manufacturing, advanced diagnostics, and biopharmaceuticals, the industry delivers innovative technologies and novel therapies that improve the diagnosis and treatment of patients with cancer, heart disease, stroke, rare disorders and other serious disease. They are transforming and advancing health care each and every day.

The industry benefits from a wealth of resources offered through government, academic institutions and public-private partnerships, that help fuel new products and promote economic growth. Utah’s business friendly environment, along with its strong culture of innovation and collaboration, create fertile ground for both established companies and entrepreneurs to succeed. Today, life science anchors such as Merit Medical, ARUP, BD, Biomerics, Edwards Lifescience, Fresenius and Stryker, who each employ thousands of Utahns, thrive alongside new entrepreneurs from all corners of the innovation ecosystem.

Somewhere include a quote from the Governor. Would be great to have the Governor on video making this statement or something similar.

Utah has ranked No. 1 in Economic Outlook since 2008. Our success is built upon business-friendly regulation, proactive problem solving and a private sector that values our exceptional workforce. That is how Utah got to the top, and that is how Utah will stay at the top. We advance because leaders in business, government, education, and our communities come together to find solutions that spur innovation, grow the economy and support a wonderful quality of life. We welcome you to come and experience “Life Elevated” yourself.

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Key Economic Findings

• Utah leads the nation in average job growth in the life sciences industry. Between 2012-2016, jobs growth in Utah’s life sciences industry increased 26.2%, significantly faster than the national average of 5.9%.

• Utah’s life sciences industry is growing jobs faster than all other key industries in the state. In 2016, employment in Utah’s life sciences industry grew by 8.4%, outpacing all other sectors of the state’s economy, including financial services and information technology.

• Over 1,000 Utah life sciences companies provide more than 70,000 jobs for a total of $4.7 billion in employee earnings.

• Average earnings per job: $77,556, 56.8 percent higher than the statewide average. • Utah life sciences companies achieved $7.4 billion in total sales in 2016, creating

$7.1 billion in total state GDP [$4.1 billion in GDP (direct) and $3.0 billion (indirect)].• Utah ranks as the number three genomics market in the nation, based on innovation,

talent and growth metrics.