Read on Twitter
I ate my @EconWheaties and I don’t think we can even begin to understand the transformational effect of the current economic and public health crisis and the future of our economy. (
long thread). https://www.politico.com/news/magazine/2020/03/19/coronavirus-effect-economy-life-society-analysis-covid-135579
long thread). https://www.politico.com/news/magazine/2020/03/19/coronavirus-effect-economy-life-society-analysis-covid-135579
We have now had 20,000 Americans died (and 115k globally) from #covid19 with a number of hot spots beginning to accelerate in New York’s wake.
Think what happened to our country after almost 3,000 Americans died on 9/11/2001. https://www.pbs.org/newshour/nation/9-11-to-today-ways-we-have-changed
Think what happened to our country after almost 3,000 Americans died on 9/11/2001. https://www.pbs.org/newshour/nation/9-11-to-today-ways-we-have-changed
. @Gallup is out with polling around changes to restaurant and groceries purchasing and telehealth. These are easy to spot.
What else may happen and how can Utah prepare, shape and benefit from these changes?
What else may happen and how can Utah prepare, shape and benefit from these changes?
A few predictions and ideas:
1) After 9/11, we spent $1 trillion on security and counter terroism. There will be a massive expansion of investment in the life sciences, pharmaceutical and healthcare space around disease management.
1) After 9/11, we spent $1 trillion on security and counter terroism. There will be a massive expansion of investment in the life sciences, pharmaceutical and healthcare space around disease management.
Ideally this will streamline @US_FDA approvals, more spending on @NIH and @NSF, so broad increase in R&D capacity and people will wash their hands more often.
Biggest ideal benefit — significant reduction in our pharmaceutical costs in America.
Biggest ideal benefit — significant reduction in our pharmaceutical costs in America.
How Utah can benefit? Our state already has an high density of these companies.
For the life sciences sector, Utah ranks as the highest state in the nation in location quotient (LQ), with an unsurpassed LQ of 3.48.
https://edcutah.org/news/2016/12/22/utah-unknown-medtech-hotbed
For the life sciences sector, Utah ranks as the highest state in the nation in location quotient (LQ), with an unsurpassed LQ of 3.48.
https://edcutah.org/news/2016/12/22/utah-unknown-medtech-hotbed
It’s time to quadrupole down. Life science facilities are high capex and high wage jobs. Let’s feed our local ones and have @edcutahorg recruit like never before.
A central part of this strategy should be @Intermountain’s @DanForUtah leadership on @CivicaRx. Let’s not only model the future of pharmaceuticals but manufacturer them here as well. https://www.latimes.com/business/story/2020-02-28/column-coronavirus-china-drugs?_amp=true
2) The PPE push will not end. Just like we all now get to deal with the @TSA, the reality is to get the economy back to normal we’ll need enhanced protocols throughout the economy.
I also anticipate the healthcare field will not relax some protocols in certain settings, ever.
I also anticipate the healthcare field will not relax some protocols in certain settings, ever.
Again, Utah should position itself to be a leader in this space. It’s not simply about making what’s needed today — it’s what is the future of PPE. Utah already has a data and health information footprint from @3M, its time to get their innovation arm here!
3) Who is loving fall this clean air? I know @thomcarter is.
Let’s lean in. Companies shouldn’t race back to the office, and stink up our air, for employees that have effectively managed telecommuting. The biggest effort here: managed what worked and keep the best of it.
Let’s lean in. Companies shouldn’t race back to the office, and stink up our air, for employees that have effectively managed telecommuting. The biggest effort here: managed what worked and keep the best of it.
This will also reshape commercial real estate with office space built more like @WeWork on a corporate level. We need the social connection and proximity does matter.
I’m excited to see what folks like @BrandonFugal and @boyercompany do to make this pivot. Don’t wait. Let’s go!
I’m excited to see what folks like @BrandonFugal and @boyercompany do to make this pivot. Don’t wait. Let’s go!
If we must commute, let’s rapidly expand our electrical vehicle fleet with @RMP_Utah and protect our gains. Like 10x the number in 3 years.
Our auto industry (and a lot of the state’s sale tax base) could use the boost. Why not make Utah the EV Capital of the US?
Our auto industry (and a lot of the state’s sale tax base) could use the boost. Why not make Utah the EV Capital of the US?
Again, let’s not just buy more electric vehicles that you can plug into your @IvoryHomes.
Let’s make them here in Utah — at you guessed it: THE Inland Port. Yes, @slcmayor. Let’s make it the greenest inland port ever by making the greenest cars. https://www.cnn.com/interactive/2019/08/business/electric-cars-audi-volkswagen-tesla/
Let’s make them here in Utah — at you guessed it: THE Inland Port. Yes, @slcmayor. Let’s make it the greenest inland port ever by making the greenest cars. https://www.cnn.com/interactive/2019/08/business/electric-cars-audi-volkswagen-tesla/
4) I was struck by an article in the @DeseretNews that described the economic impact thus far in our Latino community. Utah has the best social mobility in the nation. Let’s make sure it’s even better — and more diverse as we recover. https://www.deseret.com/utah/2020/4/10/21213979/latino-hispanic-coronavirus-covid-19-undocumented-workers-immigrants-unemployment-hit-hardest
4.5) In addition to telecommunting, this might be esports major moment. Yes, @TheRock was all about it on @BallersHBO but for real.
Luckily, we’re already there with @UUtah’s EAE program and our @siliconslopes talent. Again, let’s lean in!
Luckily, we’re already there with @UUtah’s EAE program and our @siliconslopes talent. Again, let’s lean in!
Okay — if you made it this far, you’ve probably got some ideas 
— I want to hear them! #OneUtah #UtahLeadsTogether
— I want to hear them! #OneUtah #UtahLeadsTogether
