Jan 9, 2013
The Marketing Landscape
Provo, Utah is a very dynamic locale. Huge economic potential walks in and out of the city each year by virtue of Brigham Young and Utah Valley Universities. These two institutions are KEY in Utah’s:
- Economic Growth
- Business Leadership
- Technology and Marketing Focus
Utah has one of the strongest economies in the nation right now. Utah County remains “the fastest growing economy in Utah” and the “economic capital of the state of Utah” according to the Utah Valley Chamber of Commerce. Utah County is one of the most popular places to start new businesses in the state.
Forbes Case Study
Forbes ran a market report at the end of 2011 on the List of the 25 best economies in the US. Here is how Utah fared*:
- Salt Lake City – #6 in the U.S.
- Provo/Orem – #9 in the U.S.
- Ogden/Clearfield – #15 in the U.S.
“The cost issue is also a big factor in Utah, the only state other than Texas to put more than one metro area among the 25 best performers.” In addition, Forbes mentions Provo specifically in their summary of the study, pointing out that, “Provo touts the educated workforce stemming from Brigham Young University.” Both Provo and Salt Lake City, along with Ogden and Logan (Utah-Idaho), which topped the Milken Institute’s list of best-performing small cities, offer low-cost destinations for employers focused on keeping expenses in line.
* Courtesy Steve Schaefer, Forbes Staff Writer
The MBA program at BYU is the main feeder for business savvy coming out of Provo, Utah. BYU has remained in the top 50 MBA programs in the nation for the last decade or so and remains one of the most popular graduate programs at the University. This deep pool of talent is responsible for much of the economic growth and is the fuel for the technology focus. Fueled by business start-ups from Brigham Young and Utah Valley University students and graduates, Provo and the surrounding area is a hub for some of the most progressive thinking in business.
A Local Case Study
A good example of this is the acquisition of MediConnect Global. MediConnect Global is one of the leaders in the medical record retrieval and health information industry. Started and grown by Amy Rees Anderson (BYU Graduate and Utah Business 2012 CEO of the Year), MediConnect was aquired by Verisk Analytics for a net purchase price is $348.6 million.
Amy Rees Anderson has now started Rees Capital, an angel investing group designed to inspire entrepreneurial growth (especially in Utah). Hundreds of other examples could be given.
Technology and Marketing FocusFueled by leadership coming from Brigham Young and Utah Valley Universities, Provo and the surrounding area is a hub for some of the top talent in some industries.
- SEO Firms – SEO.com, Boostability, Orange Soda and others remain some of the top traditional or “SEO Only” firms in the nation.
- Adobe – The leader in desktop software for marketing and technology, launches their Utah County office complex.
- Novell – A software giant and legacy provider of technology solutions, remains headquartered in Provo, Utah
- Ad Agencies – Axis41, Richter7, Crowell Advertising, Love Communications and a host of others remain some of the most trusted agencies in the advertising space. Eli Kirk (located in downtown Provo), remains one of the most respected ad agencies in the state of Utah.
- Innovation Simple – Innovative leader in managed marketing leads the charge for new agencies focused on technology and results-based marketing opens up location in Provo, Utah.
In Provo, Utah
When we were discussing how to move our company forward with a greater foothold in northern Utah, we were discussing two primary markets: Salt Lake and Provo (or Utah County). We chose Provo because talent acquisition and eager human capital awaited us. This move was a critical move because we already had clients in northern Utah and we needed a better source for finding additional talent to fuel our growth.
Our Provo, Utah offices are located at 379 N. University Ave. Prov, Utah 84601.
Feel free to contact Mike Green, who runs our Provo office at 801-602-7952 or stop by and visit.