Utah’s global business reach
This summer, representatives from Utah will travel to the Paris Air Show to showcase the innovation and entrepreneurial spirit taking flight in our state. The International Paris Air Show is the largest aerospace trade show in the world where aviation meets business interests. From the private sector, the Salt Lake Chamber partners with the World Trade Center Utah (WTC Utah) to help companies think and connect to a global customer base. In short, Utah businesses are searching abroad for customers and trade relationships to build international ties and goodwill.
Utah companies play a crucial role in the global market, with major corporations taking note of our state’s talent and work ethic. The state’s economy has grown steadily over the past decade, and the innovation and entrepreneurship of local companies have driven this growth. Many of the state’s companies are at the forefront of developing new technologies in innovation-driven fields such as software, biotech and renewable energy. These companies are creating products and services that transform industries and improve people’s lives worldwide.
One example is the Utah-based biotechnology company Myriad Genetics. The company’s genetic tests can identify an individual’s risk of developing certain cancer types, allowing for earlier detection and more effective treatment. Healthcare providers around the world use Myriad Genetics’ tests, and the company has partnerships with pharmaceutical companies and research institutions in countries such as Japan, Germany and Australia.
Utah companies also play a significant role in international trade, as the state’s location at the crossroads of major transportation routes makes it an ideal hub for importing and exporting goods. Many Utah businesses export various products, including food, agricultural products, machinery and chemicals. For those seeking to think bigger in terms of products or services, you have support. WTC Utah provides a range of services and resources to help firms navigate the complexities of international trade and find new markets for their products. These services include market research, trade missions and networking opportunities with other businesses and industry experts.
In addition to the economic contributions, many Utah businesses are committed to giving back and doing good, making our state a model for others to follow. We live in contentious geopolitical times with acrimony rising among nations. Business growth through the avenues mentioned provides a proto-diplomacy between people who come together to trade or work toward delivering business solutions.
Utah has many great business organizations with philanthropic arms in education, healthcare and alleviating poverty. However, these efforts are only effective if we continue to engage with people of goodwill everywhere and seek to serve more customer needs. Utah products and services can act as a bridge between nations and bring communities together for the betterment of the whole. As complex as this may seem, it comes down to believing in something you want to create and taking the risk to bring it to life. Everything else, though important, is derivative. Take the leap!
As part of the global market, Utah businesses are vital and have the power to shape outcomes. Our innovation, technology and commitment to doing good drive economic growth and improve lives. We approach business as diplomacy and hope our efforts to become the crossroad of the world can make Utah a force for good in turbulent times.