Utah Gov. Huntsman picks 6 ‘clusters’ – state will nurture economic growth in focus areas

Gov. Jon Huntsman Jr. this week officially unveiled his plan to nurture six economic "clusters," around which he said the state will develop an integrated, focused approach to fuel economic growth.

As part of his larger economic strategy, Huntsman on Friday said the clusters will align businesses, workers, capital, education and government around targeted industries.

"I think we need to focus more on getting out the best indigenous advantages of our state, such that we can weather the vicissitudes of the national and international economy," Huntsman said at a technology industry meeting.

"It’s the economy, and it pays for everything else that we do. We either do it right, or we do it wrong, in which case we’ve failed the next generation."

The six clusters are life sciences, software development and information technology, defense and homeland security, financial services, energy and natural resources, and "competitive accelerators."

As defined by the new administration, clusters are "groups of related businesses and organizations within industry sectors whose collective excellence and collaboration provides sustainable and competitive advantages."

"We, as a state, can’t do everything well," said Martin Frey, director of the Utah Department of Community and Economic Development. "We have to choose some areas to focus on."

Around these clusters, Frey said, the state’s strategy is to synergize research universities, technology commercialization catalysts like the Centers of Excellence program, capital (via the "fund of funds") and industry with the state’s efforts to foster and recruit top talent and implement smart government reforms — tax simplification among them.

By Jenifer K. Nii
Deseret Morning News

Full Story: http://deseretnews.com/dn/view/0,1249,600144004,00.html

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Utah’s economic clusters

• Life sciences, including genetics, pharma research, medical devices and products

• Software development and information technology

• Defense and homeland security, including smart sensors and chemical/biological detection

• Financial services, including industrial banks

• Energy and natural resources, including mining and mineral technology, water management and energy independence

• Competitive accelerators, including nanotechnology, advanced manufacturing, outdoor recreation and nutraceuticals