July 2020 Newsletter
Take the Stay Safe to Stay Open Pledge
WTC Utah invites you to join us in taking the Stay Safe to Stay Open pledge. We applaud Utah’s business community for their resilience in these challenging times and encourage all businesses to take part in this campaign to strengthen our collective efforts. It is absolutely essential that all of us do everything we can within our respective spheres of influence to encourage more people to wear masks and strictly adhere to all public health guidelines.
The “Stay Safe To Stay Open” campaign seeks to educate, inform, and help businesses communicate to their consumers that the businesses have pledged to follow safety guidance from the Utah Department of Health. Taking the pledge to Stay Safe to Stay Open means businesses will follow state health guidelines to show care for and appreciate customers and to protect our community and our economy. The businesses agree to practice the following seven safe habits as outlined in the Utah Leads Together plan:
- Conduct temperature checks before work and stay home when sick.
- Wash our hands frequently and avoid touching our face and eyes.
- Practice social distancing, including wearing face coverings in close common areas.
- Learn about high-risk groups and help protect them.
- Cover our mouths when we cough or sneeze.
- Clean high touch surfaces frequently.
- Follow public health guidance as updated.
These are simple steps, but they are best practices that can make an enormous difference in public health. I believe it is important that we share our support for the Stay Safe to Stay Open campaign and encourage Utah companies to join us in taking the pledge. Click here to learn more.
Utah Leads Together Plan Volume IV
International engagement will play a critical role in Utah’s economic recovery. The “Next Steps and Recommendations” section of Utah Leads Together, Volume IV, calls for a higher trajectory of global leadership and growth.
The data clearly shows that Utah’s pathway to economic recovery and revitalization runs through global markets. International trade and investment now support nearly one in every four jobs in the state, with small businesses accounting for 85% of Utah’s exporters. Last year, international sales added nearly $5 billion in additional revenue for these small business exporters, and Utah’s export growth rate has led the nation for the past two years. Despite the pandemic’s unprecedented global disruption–or perhaps because of the opportunities hidden within the crisis–the Utah Leads Together plan asserts that Utah’s path to economic recovery and revitalization runs through global markets, just as it did a decade ago.
The Utah Leads Together plan calls for state leaders to begin immediately to lay the groundwork for Utah to “level up” to an even higher trajectory of global leadership and growth by formulating and then executing policies that achieve the following:
- Boost confidence in international trade and investment by messaging that the short-term disruptions businesses are facing will fade, and even COVID-19 cannot change the fact that 95% of the global market is outside the United States.
- Increase the competitiveness of Utah businesses by investing in infrastructure and programming that enable Utah businesses to develop fully optimized supply chains that balance resilience with efficiency.
- Encourage portfolio resilience as a state, as communities, and as businesses by securing diversified suppliers and maintaining spare capacity, inventory, and cash on hand.
- Enable an aggressive Utah business campaign to capture foreign market share for Utah businesses and attract private capital to the state to fuel innovation, fund infrastructure, and solidify Utah’s place as a global safe-haven for capital.
- Resist the urge to seek security through protectionist sentiments and trade barriers that cut against our legacy of global engagement and unduly increase costs for producers and consumers, thereby creating a drag on economic growth. As tribalism increases across the globe, Utah should advocate for global engagement and champion the economic and social benefits that come from free, fair, and balanced trade and investment.
The formulation and execution of policies that achieve these strategic goals will require us to think big, but the payoff will be monumental for our economy, for our posterity, and for the quality of life we enjoy so much in Utah.
I welcome your thoughts and input regarding these strategic goals and our efforts to help Utah businesses engage in and grow their international trade. I also would like to thank all the members of the Utah Economic Response Task Force (that includes many WTC Utah board members) who contributed to this latest volume of Utah Leads Together for their continued support of Utah’s global economic outreach, including Natalie Gochnour, Director of the Kem C. Gardner Policy Institute at the University of Utah; Teresa Foxley, President & CEO of EDCUtah; and Ben Hart, Deputy Director of the Governor’s Office of Economic Development (GOED).
As always, please visit www.wtcutah.com for updates on our activities, services, and trade missions, and don’t hesitate to call or email World Trade Center Utah any time at 801-532-8080 or email@example.com.
GOP Gubernatorial Nominee Spencer Cox on Global Engagement
Congratulations to Spencer Cox for securing the GOP Gubernatorial nomination! If elected in November, he plans to lead with an unwavering commitment to international engagement. To hear his vision for global engagement, watch our forum with KSL NewsRadio:
UIRA COVID-19 Resources
The Utah Industry Resource Alliance is the premier source for assessing needs and providing solutions available through public and private resources. Learn more about their free resources to fortify your COVID-19 management including online courses and materials to help you keep your employees safe and business thriving.
Virtual Trade Mission to Israel: July 27th-29th
Connect directly with business and government leaders from Israel through various webinars on topics related to doing business or expanding your business in Israel without leaving your home.