Utah, the crossroads of the world?
The title has a strong justification.
Some of the accolades the state has received in recent years, such as the title of the fastest-growing state in the country over the past decade, may surprise people. It is the crossroads of the West, sure, but the world? But the numbers don’t lie.
Utah ranks 16th among states in exports per capita, even though it’s only 30th in population, according to Natalie Goknour, associate dean at the David Eccles School of Business at the University of Utah and director of the Kem C. Gardner Policy Institute.
She also noted that Utah ranks third in exports per capita among western states, higher than California.
According to a report by the Gardner Policy Institute, Utah businesses could export a combined $17.4 billion in 2023, supporting about 72,000 jobs and generating about $4 billion in revenue, adding $8 billion to Utah’s economy and $16.7 billion to the state’s total industrial sales.
Add to this the fact that Utah exported to 200 countries last year, including $7.2 billion (most of it in the form of raw gold) to its largest trading partner, the UK. Canada and Mexico were second and third on the export list.
These are hard numbers to fathom, but when you put them together, when it comes to trade, there’s a huge amount of trade happening at this intersection. And with trade comes influence.
It’s no wonder that Utah has been in the spotlight, with several notable figures attending the “Crossroads of the World Summit” sponsored by the World Trade Center Utah and Zions Bank, held last week at the Grand America Hotel in Salt Lake City.
The list included former U.S. President George W. Bush, former Mexican President Vicente Fox, and former Canadian Prime Minister Stephen Harper. It would be hard to assemble such a lineup without integrity.
In addition, Utah Valley University’s lineup of events in recent years has included a China Summit attended by former U.S. Ambassador to China Jon Huntsman Jr., current Ambassador Nicholas Burns, and many experts and journalists; a UN conference that brought together many UN representatives and produced 75 academic papers; and a conference on Ukraine that featured video appearances by the consuls general of Ukraine, Poland, Romania, and Spain, as well as Ryan Garlinger of the U.S. State Department.
The Utah crossroads have expanded to include serious international policy discussions beyond trade.
But it would be a mistake to underestimate the value of trade itself: In addition to gold, Utah exports large amounts of computers, electronic components, chemicals and a variety of other manufacturing inputs. But the state’s greatest asset may be what’s homegrown: its people.
At the summit last week, Utah Gov. Spencer Cox recounted a recent conversation he had with a well-known hedge fund billionaire, who he declined to identify, in which the billionaire told the governor that Utah’s greatest strength is its population of smart, hard-working people who put family first.
“These are Utah values, and they were once American values,” Cox said. “Utah is the America it once was, and we hope to be that again.”
Jonathan Friedman, president of the Utah World Trade Center, said the summit explores international trade as “the intersection of diplomacy and business,” a process that naturally involves a spirit of cooperation between government and business. He said the trade center will provide “insights to position Utah companies at the forefront of global commerce.”
But the news on trade wasn’t all good. Former Mexican President Fox spoke about the challenges of immigration, which has traditionally contributed greatly to the U.S. economy. He said Mexico is facing a labor crisis and may no longer be able to provide the labor that Utah and other states rely on.
This reflects concerns many demographers have about declining birth rates internationally, which could affect Utah and other Western states.
Fox also warned about tyrannical dictators in Latin American countries, and his answer to this is greater cooperation between Mexico, Canada and the United States, which would be a good way to solve many problems.
And increased cooperation will mean more trade passing through Utah, at the crossroads of the world.
