State exports increase by $2.5 billion / Utah expected to be first in nation to pull out of recession

By JEFF DEMOSS
Standard-Examiner staff
jdemoss@standard.net

SALT LAKE CITY -- A 32 percent increase in exports from Utah last year has helped mitigate the impact of the ongoing recession on the state, according to a new report.
Statewide, commodity exports from Utah in 2008 were worth $10.3 billion, up from $7.8 billion in 2007, the Governor's Office of Economic Development reported this week.
GOED officials said the increase has made Utah the foremost exporter among Intermountain states, which in turn has helped soften the blow of the recession.
"The ability of our businesses to expand their customer base to include much of the world is one of the reasons Utah is poised to be the first state in the nation to climb out of the recession," said Jason Perry, GOED executive director.
The American Legislative Exchange Council recently said Utah has the best economic outlook for 2009 among all states.
Many local companies have turned to international markets in recent years in an attempt to grow their businesses.
Clearfield-based Lifetime Products Inc., perhaps best known for its outdoor furniture and basketball goals, recently received the 2009 Exporter of the Year award from ThinkGlobal Inc.
The company still has broad reach in domestic markets, as evidenced by another recent award, the 2008 Lawn & Garden Supplier of the Year award from Sam's Club. However, exports have become a larger part of its business over the past two years, Communications Director Phil Mickey said.
While it hasn't been immune from the economic downturn -- Lifetime laid off about 400 workers from October 2008 to January 2009 -- growth in exports has helped minimize the impact, Mickey said.
"We recognize the potential for our business," he said. "When we take a tried-and-true product and put it into international markets, it's a huge win for us."