Utah's economic climate is such that most businesspeople in the state should be smiling, according to G. Don Gale, vice president of news and public affairs for Bonneville International Corp.
Citing the recent Fortune Magazine article that named Salt Lake City as the best place in the country to do business, Gale said Utah looks like an oasis for those companies wanting to expand or relocate because of the supply of capable workers and the prospects of a future large supply of workers who are still attending school.Speaking during a Friday luncheon in the Salt Palace as part of the Salt Lake Area Chamber of Commerce Business to Business Expo '91, Gale said he wished he was 30 years old again and had an entrepreneurial spirit because the 1990s are a good time to get involved in business.
The luncheon was held to honor Terabit Computer Engineering as the chamber's business of the year. Accepting a clock from Rod Ross, president of Equitable Life and Casualty, sponsor of the award, was Allen H. Tanner, Terabit founder and chief executive officer.
Terabit designs computer hardware and software solutions for aerospace and government customers. Its products include image generation systems, video mixers, special purpose displays and engineering services for complete system integration with an emphasis on jet aircraft pilot training through simulation.
Founded in 1977, Terabit has grown from $20,000 in total sales and a small staff to more than $6 million in sales and 46 employees in 1990. Tanner paid tribute to his family and his employees for the success the company has enjoyed.
Some of Terabit's customers are McDonnell Douglas, General Dynamics, the U.S. Army, National Aeronautics and Space Administration, Naval Air Development Center, Hughes Aircraft, Northwest Airlines, Evans and Sutherland, Rockwell and General Electric, in addition to several foreign companies.
Terabit was nominated for the award by Jon L. Van-derStek, vice president and manager of the Industrial Business Financial Center for First Security Bank of Utah. Tanner also paid tribute to the bank as being "one of people."
Gale said the Utah Jazz is an economic benefit to Utah and construction of the new arena is helping the construction economy.
He said Salt Lake City's selection as the U.S. city contending to host the 1998 Winter Olympics will stimulate the hotel and restaurant business, and even though the city might not get the bid from the International Olympic Committee in June, it still can become a winter sports capital.
Because the average age of Americans is rising, Gale said, older people are traveling more and Utah has plenty to offer tourists.
Featured during the expo were a variety of seminars centered on personal and professional development. One of the speakers Friday was Mark Miller, chairman of the chamber's board of governors and owner of Mark Miller Pontiac/Subaru/Toyota.
Miller talked about "imagineering" and stressed the need to set goals and work affirmatively to achieve them. He said people should say to themselves, "I treat all of my customers like they were my only customer and I use my utmost potential to help people to be fulfilled and happy."