June 7, 2013

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Article

International Trade Supports More than 350K Jobs in Utah

Press Release

June 7, 2013

Washington – International trade supports an estimated 356,000 jobs in Utah and generated $18.9 billion in goods exports in 2012, according to a state-by-state analysis by Business Roundtable.

“Trade is a powerful engine for economic growth, supporting American jobs and increasing U.S. exports to countries around the world,” said Business Roundtable President John Engler. “With 95 percent of the world’s population outside of the United States, and more than one in five American jobs supported by trade, U.S. international trade and investment agreements have a major role to play in maximizing economic growth in Utah and all 50 states.”

Drawing from new Business Roundtable research and U.S. government data, the facts and figures highlighted in the Utah state analysis provide in-depth details on the many economic benefits of trade and U.S. trade agreements, including:

Utah’s trade-related employment grew two and a half times faster than total employment from 2004 to 2011.

Utah’s goods exports have grown more than three times faster than state GDP since 2002. Eighty-eight percent of Utah exporters are small- and medium-sized companies with fewer than 500 workers.

U.S. trade with free trade agreement (FTA) partner countries has led to export growth, and since 2002, Utah’s goods exports to FTA partners have increased by 225 percent. In 2012, $3.6 billion of Utah’s goods exports, or 19 percent, went to FTA partners.

Foreign-owned companies invest in the United States and employ tens of thousands of workers in Utah.

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