Keeping Up on Utah Business

A lawyer visiting from Texas (BYU alum) asked me yesterday about the most exciting companies in Utah and the sectors where I am seeing the most startups. I told him I’m more entrepreneur than investor, so I haven’t mentally categorized the hottest sectors for startups, but I did mention that Governor Leavitt had in mind 9 “economic ecosystems” where he thought Utah companies could do well. I think Governor Huntsman’s new economic development team call these “clusters” and say we should focus on fewer sectors where we can excel.

Today from reading the paper I added two publicly traded companies with operations in Utah to my stock tracking service on My Yahoo. They are:

  • InvesTools–Lost $12 million on revenues of $96.9 million in 2004, employees 275 people, market cap of $228 million
  • American Skiing Company (Park City) has a market cap of only $13 million but has 1,400 employees. It owns the Canyons Ski Resort and several others around the county.

I also found this list of the 100 largest employers in Utah County. They each have at least 200 employees. Notice how many of these large employers are government and public sector entities. We definitely need more private sector growth companies in Utah County if our population is going to double in the next 20 years.

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