SYDNEY, Australia — So why should companies in geographically remote nations such as Australia and New Zealand do business with a U.S. state such as Utah?
That’s the question many involved in Utah’s ongoing trade mission across the two South Pacific countries are enthused to answer.
On the penultimate afternoon of the ongoing Utah Trade Mission to New Zealand and Australia, a panel consisting of Utah trade mission delegates and Australian business executives took a shot at that trade mission-defining question: “Why Utah?”
But before Thursday’s panel discussion commenced at Sydney’s towering Macquarie Group headquarters, Utah Gov. Spencer Cox offered a few answers of his own to his Australian hosts.
Cox began by referencing this week’s critical minerals agreement signed by President Donald Trump and Australian Prime Minister Anthony Albanese.
“And now, here we are on your doorstep within 24 hours after the signing of that agreement — which is a sign that Utah is the right place for you to do business.”
After touting the Beehive State’s natural beauty, national parks and great skiing, Cox emphasized that Utah offers foreign businesses far more.
“We have been named the No. 1 state for ‘Business Outlook’ 17 years in a row, which is truly remarkable,” he said. “And we’ve been the No. 1 state for economic growth the last 10 years — and we were No. 1 again last year for GDP growth in the United States.”
But Utah’s business appeal, added Cox, stretches beyond mere rankings.
”It’s the people that work there — and that’s why I’m glad that you get an opportunity to meet with so many of these great entrepreneurs and business leaders.
“We have so much in common with our friends here in Australia. We’ve been called ‘The Australia of the United States.’”
And lastly, Cox added, Utah boasts a “functional government,” a high bond rating — and a business-friendly reputation.
”What that means is that it’s our job to get to ‘Yes’ as quickly as possible,” he said.
“To make it so that you can spend your capital, expand, find your customers and do whatever you need to do in the least intrusive way possible — while, obviously, always keeping our people safe.”
Thursday’s panel tackling the “Why Utah?” question was diverse, featuring a couple of Utahns and a pair of Australians connected to Utah businesses.
The Utahns included 47G President Aaron Starks and Brian Somers, the leader of the Utah Mining Association.
Their Australian counterparts on the panel were Dominic Kelly from the mineral carbonation company MCiCarbon and Alex Nemeth from Qualtrics.
The panel was moderated by Jefferson Moss, executive director of the Governor’s Office of Economic Opportunity.
Starks’ organization represents aerospace, defense, space and emerging deep-tech.
Together, he said, “those categories of technology represent 20% of the state’s overall economy. That’s really important because these represent higher-paying, more sustainable wages — about 500,000 of which are scattered through the state.”
Foreign investors seeking to invest in Utah will find a stable environment for business, noted Starks.
“That means parking your capital in an environment where buyers, partners and investors can come together, and you’re not going to run unnecessary risks.”
Kelly said his company arrived in the United States about a decade ago and began looking for a suitable locale to do business. The dense business communities in the country’s East and West coasts never felt like the right fit.
But Utah, he added, was the state “open to business.”
“I realized that Utah was very much an ‘outward looking’ state,” said Kelly.
“There is a high population that can speak a second language. And a high population that has traveled overseas, is very well traveled, has outward looking eyes — and would be looking towards us as we came in.
“And that exactly has been our experience.”
Meanwhile, opting to invest in mining in Utah is a wise move, assured Somers.
“Frankly, Utah is the best place in the United States to mine,” he said.
“We were named last year by the Fraser Institute as the top global mining jurisdiction. We’ve got the most diverse mineral estate in the United States of any of our surrounding states. We have a very proud history of mining. We’ve got a great regulatory environment. A very supportive Legislature and executive branch in the state of Utah — and a very stable place to do business, generally.”
Utah, added Somers, is doubly fortunate to have both rich natural resources — “and to have the environment where your capital can be safe and you can make great progress if you’re interested in being in the mining space.”
Nemeth oversees operations in Australia and New Zealand for Utah County’s Qualtrics. He touted the business “metrics” and talent being produced by Utah’s universities.
The Beehive State’s culture, he added, is anchored in collaboration.
Meanwhile, Qualtrics’ home city of Provo “is one of the prettiest cities I’ve ever visited — and one of the safest, which are two great things that keep you going back as much as possible.”
Moss asked the panelists about collaborations happening between Utah’s higher education system, its workforce and its research.
“We have a very young and vibrant population,” answered Starks. “It’s a very educated population — and for those reasons, we’ve been able to create durable industries like hard tech, including aerospace, defense, biotechnology.”
Meanwhile, he added, Utah is synonymous with entrepreneurship.
“We raise people that want to start companies —and, thankfully, Utah is a place where companies can access capital, and they can access the talent they need to grow.”
Somers also saluted Utah’s Legislature for directing universities to ensure that they are focused on providing high-demand degrees “that are being requested by industry — so our students can come out of university and get right into the workforce.”
A beekeeper himself, Kelly noted that Utah’s ubiquitous beehive symbol is emblematic of the state’s business culture.
Utahns, he observed, function like a beehive where everyone does their part to make the hive thrive.
“We’ve been very, very loyal to Utah — and Utah’s been very loyal to us,” said Kelly.
“And all of us know that good business people create something together. Bad business people try to leverage off each other to advance themselves forward.
“But if you’re open to doing something collectively, Utah loves that. That is very much Utah.”