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
EDCUTAH COMMUNITY PROFILE EDCUTAH.ORG
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
EDCUTAH COMMUNITY PROFILE EDCUTAH.ORG
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
Medical Device Production
2014Varian Medical
380 / $38,500,000 20% / 8 / $3,004,416
20% / 10 / $3,393,272
20% / 15 / $7,100,000
Medical Device Production
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
31,860 Enrolled Students
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
2,692 Enrolled Students
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
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
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
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
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