On the same May day that the stock market took a steep one-day dive, investors heard from Utah-based REIC that the company had upgraded their five-year forecast, doubling estimates for growth and income. With expansion into 15 other states and new real estate education products, they heard that the company hired 35 people in 2009 and plans similar new jobs in 2010.
As energy continues to affect every economic sector, Utah’s U.S. Synthetic recently topped the 500-employee mark. Their forecasts show strong growth with innovative synthetic diamond products coming to market.
Startup Illumra, an Orem incubator (CEDO) company, is ramping sales and staff as they launch disruptive new energy efficient self-powered, wireless electronics that are turning industry heads. In my work with UVEF, Utah Student 25, and other entrepreneurial groups, I see brilliant technologies and bold new products and services stimulating the economy.
While there are still turbulent times ahead, there are positive signs of growth and much to look forward to on the state’s business horizon.
Do you think the economy is on the rebound?