Google CEO offers solutions to better Utah business

Google CEO and board chairman Eric Schmidt called Utah one of the best places in the country to do business, but also offered ways the state can improve. He spoke Friday at the Utah Technology Council Hall of Fame Celebration. The event is the largest technology gathering in Utah and took place in the Grand America Hotel in Salt Lake City.

Schmidt said the quality of life in Utah is phenomenal.

"The people who live here are very happy. If you look at the cost of living, if you look at the quality of the universities, I think (Utah has) all of that," he said.

He added that the problem is that ideas are formed and companies are started, but those companies have problems growing into global companies.

"I don't know whether that's because we need more venture capitalist presence in Utah. It's not that companies aren't getting started, it's that once started, they are not growing fast enough," Schmidt said.

Sen. Orrin Hatch, R-Utah, who also attended the celebration, said that Utah has some very creative and innovative people, but he feels the problem is that great companies get started and then are bought out and moved to different states.

Sen. Bob Bennett said he has met with officials of large companies who say they like Utah, but they aren't convinced to consider it because they haven't seen a major breakthrough that lasts.

He added that companies don't want to move here until they see a major company that starts and grows in Utah.

Schmidt recommended several solutions. He feels the state needs to recruit more.

"Its not an attitude problem, it's an availability problem. To me it's a recruiting of talent into the state and of course growing the talent, and it's really about people and expertise. You have all of the other components," Schmidt said.

Schmidt also feels broadband Internet is a key in recruiting companies to move to Utah.

"Broadband connectivity will bring the next generation of entrepreneurs to the state," he said.

Schmidt said Utah has good schools that need to be marketed, and he feels the state should allocate more funding for math and science education.

Schmidt said Utah has improved drastically in the past eight years, and he feels the state is right on the cusp of a major breakthrough.

Schmidt also spoke about the future of technology. He feels mobile "cloud computing" from smaller netbook-type computers will be the next big wave of computing.

"Imagine a computer that costs a few hundred dollars that can boot in two to three seconds," he said.