SALT LAKE CITY UTAH LIFE SCIENCES PROFILE EDCUTAH 2018 Lake City Life Sciences Profile.pdf · 2018....

SALT LAKE CITYUTAH LIFE SCIENCES

PROFILE EDCUTAH 2018

Salt Lake City is more than simply a place to build a business, it’s a place to build a life…or as we like to say, a “life elevated.”

As you explore where to build the next chapter of your business, I know there are many questions on your mind.Would your company thrive in a business climate consistently ranked top in the nation? Do you need a high-speed digital infrastructure, research universities, and a well-educated and diverse workforce to help you grow?

Ask yourself; do you want a place to more than simply work? Do you want your employees to enjoy a high standard of living in an area world renowned for outdoor activity and environmental beauty? Do you believe arts and culture can spark creativity and inspire the next great innovation?

Today, businesses from around the world see Salt Lake City as a place to grow and to find the talent they need. Those who live here have, for generations, used their creativity to build businesses of every type and size. These businesses have secured a livelihood for individuals, families, and neighborhoods throughout Salt Lake City.

Salt Lake City is more than simply a place to build a business, it's a place to build a life or as we like to say, a "life elevated."

Good luck in your search and I hope to hear from you soon!

Jakie Biskupski

Mayor of Salt Lake City

EDCUTAH COMMUNITY PROFILE EDCUTAH.ORG

BIOFIRE FILM ARRAY TORCH

ON THE COVER

The latest advancement in molecular disease diagnostics, the BioFire film array torch provides up to six times more sample throughput per square foot of benchtop space. It provides four comprehensive panels in one system, including Blood Culture Identifi-cation, Gastrointestinal, Meningitis/Encephalitis, and Respiratory.Photo source: BioFire

OGDEN

PROVO

GREATSALTLAKE

UTAHLAKE

215

BOX ELDER

JUAB

CARBON

WEBERCOUNTY

RICHCOUNTY

MORGANCOUNTY

DAVISCOUNTY

CACHE COUNTY

SUMMITCOUNTY

WASATCHCOUNTY

SALT LAKECOUNTY

TOOELECOUNTY

UTAHCOUNTY

M A J O R U N I V E R S I T I E S& CO L L EG E S

WASATC H F R O N T

Weber State University

University of Utah

Westminster College

Salt LakeCommunity College

Utah Valley University

Brigham Young University

The Wasatch Front is the name given

to the main business and residential

area of Utah. This small area contains

77%* of Utah's population, creating a

densely populated "city" roughly the

size of other large cities such as the

Greater Sacramento, CA,

Charlotte, NC, or Pittsburgh, PA.

2

1

3

4

5

6

7

2

1

2

3

43

5

A P P L I E D T EC H N O LO GYCO L L EG E S ( ATC )

Ogden-Weber ATC

Davis ATC

Mountainland ATC

1

1

2

3

4

5

6

7

8

10

9

Powder Mountain

Nordic Valley

Snowbasin

Park City Resort

Deer Valley

Brighton

Solitude

Alta

Snowbird

Sundance

S K I R E S O R TS

FrontRunner Trainlong distance commuter

Trax Trainlocal/airport

U TA H T RA N S I T R O U T E S

*July 1, 2015 census population estimate.

E A S T

Drive timeto Denver

8 hrs.

1

12

34 2

3

4

6 7

A

5

2

3

4

SALT LAKE CITY

LEHI

S O U T H

Drive timeto Las Vegas

6 hrs.

89

73

4

SALT LAKE CITY ASSETS

SALT LAKE CITY

MAJOR UNIVERSITIES & COLLEGES

RECREATIONINFRASTRUCTURE

4

4

University of Utah, Salt Lake City

Neumont University

Westminster College

Salt Lake Community College

Red Butte Gardens

Hogle Zoo

Emigration Canyon

George S. and Dolores Doré Eccles

Theater

Natural Gas Service

Broadband Fiber

DSL, Cable, and Fixed Wireless

Culinary Water

TRANSPORTATIONAir

Rail

Road

Salt Lake City International

Skypark Airport

South Valley Regional Airport

Ogden-Hinkley Airport

Interstate 15

Interstate 80

Interstate 215

FrontRunner Train long distance commuter

Trax Train

1

2

3

4

3

2

1

MAJOR COMPANIES

3

Associated Reg & University

Pathology

Myriad Genetic Laboratories

BioFire Diagnostics

Stryker Corporation

Varian Medical Systems

2

1

5

4

1

2

3

4

215

POPULATION DEMOGRAPHICS

Total Population

Salt Lake City Salt Lake MSA Utah

193,744 3,051,217

Annual Growth Rate 1.2% 1.5% 2.0%

81,427 393,138 1,011,099

$47,243 $62,192 $60,727

30.9 years 30.7 years 29.2 yearsMedian Household Age

Total Households

Median Household Income

Community Overview

¥ Ranked #4 in science, technology, engineering and math (STEM) job growth in the U.S., according to the U.S. Chamber

¥ Home to companies like ARUP Laboratories, Biomerics, Stryker, Varian Medical Systems, and many others

¥ 10 minutes from Salt Lake City International Airport, a major hub for Delta Airlines providing direct flights to major international destinations

¥ Strategic location at the intersection of Interstate 80 and Interstate 15 provides easy ground transportation throughout the United States.

¥ Robust public transportation system, with an electric light rail system and commuter rail connecting Research Park, universities, neighborhoods, and the international airport

¥ Established gigabit network, making business better, faster, and easier. High speed internet maximizes economic and innovative potential

¥ Urban outdoor paradise including 90+ lush parks and miles of protected open space and trails


LIFESTYLE HIGHLIGHTS

City Creek Center, a 900,000 sq. ft mixed-use develop-ment at the heart of downtown Salt Lake City

1,186,187

A

A

A

Industry Overview

DESCRIPTIONCOMPANY EMPLOYEES

Associated Reg & University Pathology 2000-2999 Medical Laboratories

500-999 Research and Development in BiotechnologyMyriad Genetic Laboratories

500-999 Irradiation Apparatus ManufacturingVarian Medical Systems

500-999 Research and Development in BiotechnologyBiofire Diagnostics

250-499 Surgical and Medical Instrument Bard Access Systems

250-499 Irradiation Apparatus ManufacturingGe Oec Medical Systems

250-499 Medicinal and Botanical ManufacturingGenysis Brand Solutions

250-499 Surgical and Medical Instrument ManufacturingICU Medical

250-499 Pharmaceutical Preparation ManufacturingRB Manufacturing

100-249 Surgical and Medical Instrument ManufacturingStryker Corporation


RECENT LIFE SCIENCE ANNOUNCEMENTS

STRYKER EXPANDS INTO SALT LAKE CITY

BIOMERICS HEADQUARTERS IN SALT LAKE CITYCOMPANYFUNCTION YEAR

EDTIF TAX CREDITPERCENT / YEARS/ CAP

COMPANY JOBS / CAPITAL INVESTMENT

Eclipse NanoMed

Stryker

2,000 / $18,000,000

540 / $100,000,000

1,000 / $29,000,000

No Incentive Medical Application Production

Medical Device Production

2016

2016


2014Varian Medical

380 / $38,500,000 20% / 8 / $3,004,416

20% / 10 / $3,393,272

20% / 15 / $7,100,000


2017Biomerics

Stryker, one of the world's leading medical technology

companies, decided to consolidate its operations to one

strategic position in Salt Lake City, Utah. Their combined

facility involves sectors in research and development as well

as manufacturing neurovascular tools used in operations.

Stryker chose Utah for its point of consolidation because

of Utah's regulatory environment, lower real estate costs,

lower taxes, lower operational costs and reasonable wages.

Stryker also felt that the quality of workforce and workforce

training opportunities in Salt Lake City was higher than

anywhere else they could move their operations. Salt Lake

City has become Stryker's primary location for training

facilities, and people from all over the world fly to the state

to receive proper instruction on how to use their products.

Biomerics is a leader in the medical device and biotech industries specializing in the design,

development, and production of medical devices for diagnostic and interventional procedures.

Starting in 2006, the company grew rapidly, opening offices in Utah, Minnesota, and Ireland.

By 2015 customer demand had grown and Biomerics found a need to expand not only its

manufacturing capacity, but its headquarter capacity as well. Having nearly equal headcount in

Utah and Minnesota, two states with thriving life science industries, they narrowed down their

decision between these two states.

The cost of doing business and incentive

offerings were the two biggest decision

drivers in selecting where to expand and

establish their corporate headquarters.

After two years of cost and benefit

analysis, the company ultimately selected

Salt Lake City, Utah for its corporate

headquarters.

MAJOR EMPLOYERS

215 / Not Disclosed No Incentive Pharmaceuticals Production

2018Recursion Pharmaceuticals

UTAH STATE UNIVERSITY

5,086 Graduates

Public Institution

Expertise in Business & Healthcare

LOGAN

26,809 Enrolled Students

UNIVERSITY OFUTAH

7,783 Graduates

Public Institution

Expertise in Research, Genetics, & Medicine

SALT LAKE CITY


CUSTOM FIT TRAININGMAJOR UNIVERSITIES & COLLEGES

UNIVERSITY OF UTAH RESEARCH PARK

Stryker and many other life science companies chose Utah for their operation because of the

custom fit training programs provided through Utah's Technology Colleges and Salt Lake

Community College. Custom Fit Training partners select institutions with the local business

community to provide customized employee training to businesses at an affordable cost. This

partnership can benefit smaller entrepreneurial businesses as well as larger, established ones;

training can take place either in a classroom setting or at the business location. The Utah State

Legislature appropriates funds each year as an investment in Utah's economy through Custom Fit.

Salt Lake Community CollegeSLCC has five campuses: three in Salt Lake City, one in West Jordan, and one in Sandy. There are 60,000 students enrolled in over 120 programs. Primary workforce training programs include Quality Improvement, Leadership, Technology, and more.

BRIGHAM YOUNG UNIVERSITY

1,009 Graduates

Private Institution

Expertise in Business Teaching, & Healthcare

PROVO


Education & Training

Salt Lake City is home to University of Utah, the

state's flagship university. Established in 1968,

University of Utah has over 31,000 students and

programs and majors related to life sciences. The

medical, dental, pharmacy, and nursing schools are

located in the 320-acre Research Park adjacent

to campus. The combination of the academic and

professional life sciences makes Research Park a

special environment for entrepreneurial growth, and

encourages the transfer of University research and

technology to the private sector for job growth.

Many leading biotech companies and research universities call Salt Lake City home, and we are excited to be a part of the diverse and growing life-science community here. The city’s business-friendly culture, investments in STEM education and the array of scientific expertise guarantees that Salt Lake City will be an important biotech and technology hub for decades to come.

- Mark CaponePresident & CEO, Myriad Genetics

The Life Sciences and Medical Device industries are alive and well in Utah. We appreciate the support and commitment of the SLC Department of Economic Development to develop a vibrant community dedicated to building and strengthening our industries. Their partnership has played a significant role in our ongoing success.

- Travis Sessions CEO of Biomerics

Corporate Income TaxProperty Tax (Collections per capita)

300

600

900

1200

$1500

SOURCE: taxfoundation.orgTAXES

UT

AH

$9

69

AR

IZO

NA

$9

86

NA

TIO

NA

L$

1,4

16

$1,

38

5

CA

LIF

OR

NIA

2%

4%

6%

8%

10%

$1,

05

7

CO

LO

RA

DO

RD = Tax Credit on R&DMA = Sales Tax Exemption on Manufacturing*GRT: Gross Receipt Tax

Construction ($/sq.ft.) Lease ($/sq.ft.)*

75

100

125

150

175

$200

SOURCE: LoopnetSOURCE: RSMeansREAL ESTATE: OFFICE

5

10

15

20

25

$30

BO

ST

ON

$19

1.8

2

SL

C$

148

.45

MIN

NE

PO

LIS

$17

6.8

1

SA

N D

IEG

O$

133

.31

NA

TIO

NA

L$

166

.80

BO

ST

ON

$2

0.3

6

SL

C$

14.5

9

MIN

NE

PO

LIS

$14

.51

RA

LE

IGH

$17

.28

SA

N D

IEG

O$

17.4

3

NA

TIO

NA

L N

/A

RA

LE

IGH

$14

0.1

1

Construction ($/sq.ft.) Lease ($/sq.ft.)

50

75

100

125

150

$175

SOURCE: LoopnetSOURCE: RSMeansREAL ESTATE: INDUSTRIAL

2

4

6

8

10

$12

BO

ST

ON

$14

0.6

5

SL

C$

108

.85

MIN

N.

$12

9.6

4

RA

LE

IGH

$10

2.7

3

SA

N D

IEG

O $

108

.41

NA

TIO

NA

L $

122

.30

NA

TIO

NA

L N

/A

BO

ST

ON

$8

.63

SL

C$

6.1

5

MIN

NE

PO

LIS

$6

.69

RA

LE

IGH

$6

.78

SA

N D

IEG

O $

8.5

9

UT

AH

5%

Fla

t R

ate

AR

IZO

NA

4.9

% F

lat

Rate

8.8

4%

Fla

t R

ate

CA

LIF

OR

NIA

4.6

3%

Fla

t R

ate

CO

LO

RA

DO

NA

TIO

NA

L

38

.9%

Av

era

ge

Key industries were identified by their high location quotients, an indication of the concentration of the industry.

Employment change measures the average change in employment within a region over a five year period, from 2012 to 2017.

400 500300200100 700600

Research & Development in Biotechnology 321

Medicinal and Botanical Manufacturing 493

Medical Laboratories 601

Surgical & Medical Instrument Manufacturing 608

3,782Irradiation Apparatus Manufacturing

NationalAverage

20

40

60

80

$100

$9

9,4

06

UT

AH

$9

9,7

64

SL

C

IRRADIATION APPARATUSMANUFACTURING

SOURCE: Jobs EQ

SOURCE: Jobs EQ

SOURCE: Jobs EQ

8.87%

17.02%UTAH

14.83%SALT LAKE CITY

NATION

5 10 15 20

RESEARCH & DEVELOPMENT INBIOTECHNOLOGY

SL

C$

72

,07

3

UT

AH

$7

2,3

44

MEDICINAL &BOTANICAL

MANUFACTURING

SL

C$

46

,08

4

UT

AH

$6

4,9

40

MEDICAL LABORATORIES

SL

C$

51,

28

2

UT

AH

$5

1,6

97

$6

1,9

91

UT

AH

SURGICAL &MEDICAL INSTRUMENT

MANUFACTURING

$6

2,5

11S

LC

400 500300200100 700600






NationalAverage

20

40

60

80

$100

$9

9,4

06

UT

AH

$9

9,7

64

SL

C


SOURCE: Jobs EQ

SOURCE: Jobs EQ

SOURCE: Jobs EQ

8.87%

17.02%UTAH


NATION

5 10 15 20


SL

C$

72

,07

3

UT

AH

$7

2,3

44


MANUFACTURING

SL

C$

46

,08

4

UT

AH

$6

4,9

40


SL

C$

51,

28

2

UT

AH

$5

1,6

97

$6

1,9

91

UT

AH


MANUFACTURING

$6

2,5

11S

LC

Key Life Science Industry Wages

Five-Year Life Science Employment Change

Life Sciences Employment IndexThis graph represents an index based on location quotients showing the large concentration of life science-related occupations in Utah. Any occupation above the national average of 100 demonstrates a competitive advantage in Utah.

400 500300200100 700600






NationalAverage

20

40

60

80

$100

$9

9,4

06

UT

AH

$9

9,7

64

SL

C


SOURCE: Jobs EQ

SOURCE: Jobs EQ

SOURCE: Jobs EQ

8.87%

17.02%UTAH


NATION

5 10 15 20


SL

C$

72

,07

3

UT

AH

$7

2,3

44


MANUFACTURING

SL

C$

46

,08

4

UT

AH

$6

4,9

40


SL

C$

51,

28

2

UT

AH

$5

1,6

97

$6

1,9

91

UT

AH


MANUFACTURING

$6

2,5

11S

LC

Labor & Costs Profile

201 South Main Street, Suite 2150, Salt Lake City, UT 84111 | 1-800-574-UTAH (8824) | edcutah.org

Salt Lake City questions?Call Laura Fritts

Economic Development Director:801-535-7299

Project questions?Call Jake Berlin,

Business Development Manager: 801-323-4247

Have questions about this Community Profile? Call us at 1-800-574-8824

EDCUtah questions?Call Theresa Foxley,

President & CEO: 801-328-8857

SALT LAKE CITY EDCUTAH

SALT LAKE CITY UTAH LIFE SCIENCES PROFILE EDCUTAH 2018 Lake City Life Sciences Profile.pdf · 2018....

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