Business gets top billing

SPANISH FORK — Utah Gov. Jon Huntsman Jr. wants to create a fertile field for business, Lt. Gov. Gary Herbert told a group of business people Friday during the second annual Nebo Economic Summit.

Utah County is facing a challenge to become a key element in that vision as it works to resolve a transportation crisis spurred by new growth, said Darrell Cook, executive director of the Mountainland Association of Governments. The agency is charged with regional highway planning.

"We'll do our part to create the business climate — it's up to you to find the business," Herbert said.

Business, rather than government, creates wealth and pays the bills, he said. While he opposes raising taxes on business — "It's the people who pay them" — government should create a friendly business climate by not overtaxing, he said.

Utah doesn't have as much ability to tax compared to other states, because more than 70 percent of its land mass is controlled by the federal government, Herbert said. The state gets "in lieu of tax payments" from the federal government, which Herbert compared to receiving "10 cents on the dollar."

Herbert also called for getting rid of "foolish regulations" that hamper business.

"(Overregulation) can run you out of business as quick as overtaxation," he said.

The Huntsman administration wants to attract start-up businesses from among college graduates along with attracting business and capital from out of state, Herbert said. A statewide economic summit is planned for June 22, but a location has not yet been named. A transportation summit is tentatively scheduled for September, which will help officials finalize a new transportation plan for the state due out in October, Herbert said.

Meanwhile, Rep. Chris Cannon , R-Utah, advised business people to learn who is in their own back yard.

"How can we create an environment of information to know what's out there?" he asked, encouraging more networking among businesses. Some attendees said they are already doing that.

Business today is working in a climate of fewer jobs as companies have downsized. Many of the jobs were displaced not by moving them out of the country but by technology, Cannon said.

Yet, the south Utah County economy is growing, noted Cannon, who hails from the region. He advised business leaders to build on their strengths to keep the economy robust.

"You need to create an environment to make things happen," he said, suggesting that better networking will create opportunities for more business.