Survey shows Utah executives are less optimistic about firms' futures

SALT LAKE CITY — Utah executives were less optimistic about their own companies' financial outlook during the second quarter of this year compared to the first quarter — with only 3 in 10 executives expecting a healthy future, according to Zions Bank's most recent Utah Quarterly Economic Forecast.

In addition, the executives had some bracing advice for the Utah Legislature:

 Cut taxes.

 Focus on "real issues" instead of "stupid message bills."

 Attract new companies to Utah and boost those already here.

 Do not over-regulate.

 Use incentives to reward businesses that do what they promise.

 Urge people to "buy Utah."

The main response in the part of the survey regarding the Legislature was to cut or control taxes and fees, with 29 percent of the executives holding that view.

"If we have lower taxes, we have more spending power," one survey respondent said.

Thirteen percent of the executives urged the Legislature to work to attract new businesses from other states and build up those already here; 10 percent said to be careful not to over-regulate business; 9 percent urged balancing the state budget; and 9 percent wanted a focus on small-business development.

Eight percent also said the Legislature should pay attention to issues that really count.

"Address real problems, instead of wasting time on stupid message bills and other political grandstanding," was the blunt assessment of one executive.

Zions in 2006 commissioned Dan Jones & Associates to measure what top Utah executives said regarding the financial state of their own firms and their forecasts for the coming months.

In the second quarter of 2006, executives surveyed were more upbeat, with 62 percent reporting they were optimistic about their company's future. However, in the second quarter of 2010, only 30 percent of the executives surveyed reported high levels of optimism.

The 43-page survey also included these highlights:

 Seventy-one percent said the responsibility to fix America's economy rests with several entities: citizens, the federal government, major financial institutions and big business.