Connect with us

Utah

Trade is making Utah the crossroads of the world

Published

on

Trade is making Utah the crossroads of the world


Utah, the crossroads of the world?

A strong case for that title can be made.

Among the accolades the state has received in recent years, including the title as the nation’s fastest-growing state during the previous decade, this one might catch people by surprise. Crossroads of the West, yes, but the world? However, the numbers don’t lie.

Utah ranks 16th among states in terms of per capita export values, despite its population ranking only 30th. That is according to Natalie Gochnour, associate dean for the University of Utah’s David Eccles School of Business and director of the Kem C. Gardner Policy Institute.

Advertisement

She also noted that Utah has the third-highest per capita export ranking among Western states, which is higher even than California.

The Gardner Policy Institute reports that Utah companies exported a combined $17.4 billion in 2023, which supported almost 72,000 jobs and generated about $4 billion in earnings. This also added $8 billion to Utah’s economy and $16.7 billion to the state’s gross industry sales output.

Add to that the fact that Utah exported to 200 nations last year, including $7.2 billion (most of it unwrought gold) to its No. 1 trading partner, the United Kingdom. Canada and Mexico were second and third on the export list.

Those are a lot of numbers to digest. But what they add up to is this: When it comes to trade, an impressive amount takes place at this crossroads. And that volume of trade leads to influence.

Small wonder, then, that Utah has attracted enough attention to also attract several marquee names to a Crossroads of the World Summit, sponsored by World Trade Center Utah and Zions Bank and held at Salt Lake City’s Grand America hotel last week.

Advertisement

That list included former U.S. President George W. Bush, former Mexican President Vicente Fox and former Canadian Prime Minister Stephen Harper. It’s hard to attract a lineup like that without bona fides.

Add to this the lineups Utah Valley University has attracted in recent years: a China Summit that included former ambassador to China Jon Huntsman Jr., current ambassador Nicholas Burns and a list of experts and journalists; a United Nations conference that drew many U.N. delegates and featured the introduction of 75 scholarly papers; and a conference on Ukraine that featured consul generals from Ukraine, Poland, Romania and Spain, as well as a video appearance by Ryan Guirlinger of the U.S. Department of State.

Utah’s crossroads, then, is expanding to include serious international policy discussions as well as trade.

But it would be wrong to underestimate the value of the trade on its own. In addition to gold, Utah exports a lot of computer/electronic parts, chemicals and miscellaneous manufacturing commodities. However, the state’s best asset may be something homegrown — its people.

During last week’s summit, Utah Gov. Spencer Cox told of a conversation he had recently with a well-known hedge fund billionaire he declined to identify. The billionaire told him Utah’s strongest asset was a population of smart, hardworking people who prioritize their families.

Advertisement

“Those are Utah values and they used to be American values,” Cox said. “Utah is what America used to be and, I hope, what it can be again.”

The president of World Trade Center Utah, Jonathan Freedman, characterized the summit as trying to explore international trade as a place “where diplomacy and business intersect.” That process naturally includes a cooperative spirit between government and business. The trade center, he said, offers “insights to place Utah companies at the front of global commerce.”

Not all the news concerning trade was good, however. Fox, the former Mexican president, spoke about the challenges concerning migration, which has traditionally contributed mightily to the U.S. economy. Mexico, he said, is approaching a labor crisis and may not be able to provide the labor Utah and other states depend on.

This echoes the concerns many demographers have about a diminishing birth rate internationally. It could affect Utah and other Western states as well.

Fox also warned about tyrannical dictators in some Latin American countries. His answer to this is greater cooperation between Mexico, Canada and the United States. That’s a good recipe for solving a lot of problems.

Advertisement

And that greater cooperation can mean only greater trade coming through Utah, the crossroads of the world.



Source link

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Utah

Utah man triggers avalanche and saves brother buried under the snow | CNN

Published

on

Utah man triggers avalanche and saves brother buried under the snow | CNN




CNN
 — 

A man rescued his brother from a “large avalanche” he triggered while the pair were snowmobiling in Utah on Wednesday, authorities said.

The brothers were in the Franklin Basin area of Uinta-Wasatch-Cache National Forest when one of them triggered the avalanche while “side-hilling in a bowl beneath a cliff band in Steep Hollow,” an initial accident report from the Utah Avalanche Center read.

He saw the slope “ripple below and around him” and was able to escape by riding off the north flank of the avalanche, according to the report.

Advertisement

But his brother, who was farther down the slope standing next to his sled, was swept up by the avalanche, carried about 150 yards by the heavy snow and fully buried, the avalanche center said.

Using a transceiver, the man was able to locate his brother underneath the snow, seeing only “a couple fingers of a gloved hand sticking out,” the report said.

The buried brother was dug out and sustained minor injuries, according to the avalanche center. The two were able to ride back to safety.

The Utah Avalanche Center warned that similar avalanche conditions will be common in the area and are expected to rise across the mountains in North Utah and Southeast Idaho ahead of the weekend.

Advertisement



Source link

Continue Reading

Utah

Snow expected in Utah valleys and mountains

Published

on

Snow expected in Utah valleys and mountains


SALT LAKE CITY — According to forecasters, several parts of Utah will receive snow Thursday morning and evening.

On Wednesday, the Utah Department of Transportation issued a road weather alert, warning drivers of slick roads caused by a storm that will arrive in two different waves.

UDOT said the first wave should arrive along the Wasatch Front after 8 to 9 a.m. and will move southward across the state until around noon. By 10 to 11 a.m., most roads are expected to be wet.

“This wave of snow only lasts for a few hours before dissipating around noon or shortly after for many routes,” UDOT stated on its weather alert.

Advertisement

UDOT said an inch or two of snow could be seen in Davis and Weber counties due to cold captures temperatures in the morning.

The Wasatch Back and mountain routes are expected to receive a few inches of snow through noon, with some heavy road snow over the upper Cottonwoods, Logan Summit, Sardine Summit, and Daniels Summit, according to UDOT.

Travelers in central Utah should prepare for a light layer of snow, with an inch or two predicted in the mountains.

Second wave of snow in Utah

According to UDOT, there will be a lull in snow early to mid-Thursday afternoon. But there should be another wave of snow from 4 to 6 p.m.

Advertisement

“With temperatures a bit warmer at this point, the Wasatch Front will likely see more of a rain/snow mix,” UDOT said. “However, some showers may be briefly heavy for short periods of time and be enough to slush up the roads late afternoon/evening with bench routes seeing the higher concern.”

UDOT predicted the Wasatch Back and northern mountain routes to receive another couple of inches during the second wave.

The storm is expected to end around 9 p.m. for the Wasatch Front and valleys, while the mountains will continue to receive snow until about midnight.





Source link

Advertisement
Continue Reading

Utah

Judge orders legal fees paid to Utah newspaper that defended libel suit

Published

on

Judge orders legal fees paid to Utah newspaper that defended libel suit


SALT LAKE CITY — A businessman has been ordered to pay almost $400,000 to the weekly Utah newspaper he sued for libel.

It’s to cover the legal fees of the Millard County Chronicle Progress. In September, it became the first news outlet to successfully use a 2023 law meant to protect First Amendment activities.

The law also allows for victorious defendants to pursue their attorney fees and related expenses. The plaintiff, Wayne Aston, has already filed notice he is appealing the dismissal of his lawsuit.

As for the legal fees, Aston’s attorneys contended the newspaper’s lawyers overbilled. But Judge Anthony Howell, who sits on the bench in the state courthouse in Fillmore, issued an order Monday giving the Chronicle Progress attorneys everything they asked for – $393,597.19.

Advertisement

Jeff Hunt, a lawyer representing the Chronicle Progress, said in an interview Tuesday with FOX 13 News the lawsuit “was an existential threat” to the newspaper.

“It would have imposed enormous financial cost on the on the newspaper just to defend itself,” Hunt said.

“It’s just a very strong deterrent,” Hunt added, “when you get an award like this, from bringing these kinds of meritless lawsuits in the first place.”

Aston sued the Chronicle Progress in December 2023 after it reported on his proposal to manufacture modular homes next to the Fillmore airport and the public funding he sought for infrastructure improvements benefiting the project. Aston’s suit contended the Chronicle Progress published “false and defamatory statements.”

The suit asked for “not less” than $19.2 million.

Advertisement

In its dismissal motion, attorneys for the newspaper said the reporting was accurate and protected by a statute the Utah Legislature created in 2023 to safeguard public expression and other First Amendment activities.

Howell, in a ruling in September, said the 2023 law applies to the Chronicle Progress. He also repeatedly pointed out how the plaintiff didn’t dispute many facts reported by the newspaper.





Source link

Continue Reading

Trending