A group of business and government leaders in Utah recently spent time in Europe on a mission to boost trade and foreign investment between the state and Switzerland, France and Italy.
The trade mission, which took place June 13-21, included specific company and event visits focusing on manufacturing, aerospace and energy trends.{mprestriction ids="1,3"}
Val Hale, executive director of the Governor’s Office of Economic Development, said the mission allowed Utah companies to connect with diverse industries. “Maintaining and strengthening relationships with companies in these countries is key to Utah’s continued economic success,” Hale said.
The three markets were selected based on their high-ranking GDP as well as for their close ties with the U.S. France and Italy have the world’s seventh- and ninth-largest GDPs, respectively. Switzerland is the top-ranked nation globally in innovation, with a high percentage of its GDP coming from research and development investment. All three countries share a stable relationship with the U.S. and similar policies on most political and economic issues. France has more than 20,000 foreign businesses already established in-country. U.S. exports to Italy are concentrated in pharmaceutical products, nuclear reactors and machinery.
“What sets this opportunity apart for Utah businesses are the connections made possible by participating in the governor’s delegation,” said Miles Hansen, president and CEO of World Trade Center Utah (WTC Utah). “The high-level itinerary offers the opportunity to see Utah’s impact on foreign markets firsthand and to pursue mutually beneficial relationships across industries and governments in settings not otherwise available.”
“Utah is a globally engaged state,” said Derek Miller, president and CEO of the Salt Lake Chamber, “and our long-term prosperity is inextricably linked to our success in international markets. By participating in a trade mission, businesses are provided the opportunity to network, develop business-to-business partnerships and participate in site visits and country briefings, among other activities. These trips also allow us to elevate the message that Utah is the place to be for economic and international investment.”
The mission began in Switzerland and included a visit to Stadler Rail, a Swiss passenger train and tram manufacturing company with U.S. headquarters in Utah. Stadler recently celebrated the completion of a $50 million manufacturing facility in Salt Lake City. The delegation visit to its Swiss location celebrated the growing relationship between Stadler and Utah while exploring further partnership opportunities, including Stadler Rail’s apprenticeship program that will be implemented in partnership with Talent Ready Utah, Salt Lake Community College and Utah public schools.
The France portion of the trip included attendance at the 2019 International Paris Air Show, the largest air show in the world. Representatives of eight Utah aerospace companies were there to promote Utah as a premier destination for the industry, and presentations focused on the newest technologies in aerospace and defense and related equipment, such as aircraft engines, satellite navigation technology, aircraft cabins and seats and weapons systems.
The Italy portion included a visit to Enel Green Power’s Rome location to learn about the company’s recent activities in Utah and to explore how Utah companies can enter its supply chain. Enel’s Cove Fort Plant in Utah uses large-scale electrical submersible pumps for the extraction of geothermal fluid, a cleaner and more efficient technology that ensures zero energy loss while implementing state-of-the-art maintenance software.
The trade mission was the fifth such trip for Natalie Kaddas, CEO of Kaddas Enterprises, which provides high-quality thermoform plastic solutions for airline, rail, medical, automotive and electric power companies. Having experienced a 400 percent increase in international sales over the past few years, the company credits much of this success to its participation in trade missions and trade shows.
The trade mission, supported by WTC Utah, GOED, the Salt Lake Chamber, Zions Bank, the U.S. Commercial Service and the U.S. Small Business Administration, featured additional delegates from other organizations and companies: ACT Aerospace. Borsight Inc., the Economic Development Corporation of Utah, ElectraFly, Electric Power Systems, the Governor’s Office of Energy Development, IMSAR LLC, Kaddas Enterprises, KIHOMAC, the law offices of Thomas N. Jacobson, Optisys, Owlet Baby Care Inc., PolarityTE Inc., RAM Manufacturing Co. Inc., Utah Advanced Materials & Manufacturing Initiative, Utah Consular Corps, Utah Farm Bureau Federation, the Utah House of Representatives and the Utah State Senate.{/mprestriction}
