Herbert Says Economic Development Key to Recovery

03.30.2010 by Elizabeth Ziegler

Utah Governor Gary Herbert

(KCPW News) Governor Gary Herbert emphasized his administration’s focus on economic development at the 2010 Utah Economic Summit yesterday. In an address that at times sounded like a campaign speech, Herbert said Utah is poised for growth despite high unemployment, because of the state’s conservative fiscal record and business-friendly tax policies.

“It doesn’t matter what your pet issue is, it could be education, could be transportation, health and human services, infrastructure needs,” he said.  “But it starts with having a healthy economy. And everything we look at in this administration is through the prism of: Does it help grow the economy or does it hurt and hinder growing the economy. ”

Herbert said the state is already on the rebound. He pointed to his administration’s successes in negotiating tax incentives to keep businesses in the state, such as Goldman Sachs, Edwards Lifesciences, and Proctor and Gamble. He also held up the state’s multi-billion dollar tourism industry and rekindled film industry as examples of economic successes.

However, the state’s unemployment rate exceeded 7 percent last month, a 26-year high. Herbert said, again, economic development is the key to reversing this trend.

“I do want to emphasize the best thing that we can do for those who are out of work is to make sure we do the best we can to grow the economy, to create jobs, give them opportunities to pay their own way,” said Herbert.  “And so our efforts, are all, again about doing just that very thing.”

The annual economic summit drew more than 800 business leaders, politicians and lobbyists to the Grand America Hotel ballroom in Salt Lake City.