This week on the Utah Business Report

Friday, June 14th, 2013

In case you missed one or more of the Salt Lake Chamber’s Utah Business Reports on KSL News Radio, here is a recap of what we talked about this week.

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Utah Business Week is celebrating its 32nd year this summer.

The week-long business camp is held on the campus of Utah State University from July 28 through August 3.

At Utah Business week, high school students interested in business get hands on experience building a business and competing with their peers.

Students will learn first-hand from business leaders what it takes to succeed in business, from marketing to business ethics.

Utah Business week costs just 100-dollars—that’s less money than what you would pay to feed a teenager for a week!

So if you have a student who will be a high school junior or senior in the fall of 2013, go to www.UtahBusinessWeek.com today. Space is limited and registration closes this Friday, June 14.

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33 small business owners recently graduated from Utah’s inaugural Goldman Sachs 10,000 Small Businesses program.

Eleven sessions and more than one hundred hours of training from Salt Lake Community College supported business growth by boosting operations and creating job opportunities.

Over the last five months, the business owners who participated created more than 100 jobs.

Businesses ranging in industries participated and 17 of the 33 were women-owned, which is the largest group of women that have participated in a single cohort since the program launched in 2009.

10,000 Small Businesses is a $500 million investment that gives entrepreneurs greater access to education, financial capital and business support services. More than 1,300 businesses have participated nationwide.

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While the nation is stuck in a slow recovery, Utah’s economic status is one to envy. The sixth edition of the “Rich States, Poor States” study recently listed Utah has having the Best Economic Outlook in the nation.

This is the sixth year in a row Utah has received this ranking.

Fifteen important state policy variables go into the Economic Outlook rankings. Utah ranked in the top 10 in almost half of them—making it one of the best performing states.

“Rich States, Poor States” also listed Utah as having the third best Economic Performance overall, coming in behind Texas and Nevada. The combined scores give Utah an overall number one ranking.

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Ten professional cycling teams have accepted invitations to compete at the 2013 Larry H. Miller Tour of Utah. The race this year will take place August 6 – 11, starting in southern Utah.

Many of the cycling teams are among the best in the world. Miller Sports Properties COO Steve Miller says cycling fans should be excited to see such a solid group of top-rated pro teams from around the globe.

The Tour of Utah was elevated to a 2.1-rated stage race by the UCI in 2011. It continues to be one of the top stage races in North America.

The Tour of Utah is still looking for volunteers to help with the week-long race. You can find out more at TourOfUtah.com.

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For the full reports from this week and weeks past, visit KSL Radio online. Remember to tune in between 12:30 and 1 p.m. to KSL NewsRadio every week day on 102.7 FM or 1160 AM. If your business is doing something great, let us know and we may just feature it on the Utah Business Report. 

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April 2013 export numbers surprisingly positive

Wednesday, June 12th, 2013

In the April 2013 Export report from World Trade Center Utah, the Beehive State saw more positive numbers than originally expected.

Despite dropping $31 million in exports from March to April, Utah is still giving a strong export showing. Total exports from Utah in April 2013 totaled more than $1.5 billion, which is quite a bit higher than last April’s total of $1.2 billion. This is the first month this year that came out ahead of its counterpart in 2012.

WTC Utah report noted that the Foreign Trade Division of the U.S. Census Bureau released revised final figures for 2012 that indicated a rise in Utah’s total from $19.11 billion to $19.25 billion.

“I wish it had stayed lower, because it’s going to take a lot of miracles to beat that this year,” said Lew Cramer, president and CEO of WTC Utah. “However, Utah does specialize in exporting miracles.”

Based on data from the U.S. Census Bureau, 60 percent of Utah’s exports were of primary metals in April, or approx. $922 million. There was some uncertainty surrounding primary metal export numbers because of the recent landslide at Kennecott, so the strong number was good news. It nearly matched the March 2013 figures for the industry, just shy of a $7 million difference.

What Utah saw a jump in exporting is transportation equipment (increase of 28 percent since April 2012) and computers and electronics (increase of 20.87 since April 2012). In April, the top five industries exporting from Utah include primary metals, computers and electronics, and chemicals.

Utah’s exports mostly head to Hong Kong, United Kingdom, China, Canada and Thailand. From April 2012 to April 2013, China saw the greatest jump in Utah exports from $174 million to $608 million (increase of 248 percent).

The number of positive revelations that came from the April 2013 Exports report are solid indicators that 2013 will continue Utah’s trend of being a strong and growing export state.

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Business leaders place letter in newspapers in a push for immigration reform

Tuesday, June 11th, 2013

 

 

On Sunday, Utah business leaders gave a very public call to our federal delegation emphasizing the need and urgency for action on comprehensive immigration reform. Dozens of leaders signed into an open letter that was featured in the Sunday editions of both the Salt Lake Tribune and the Deseret News. You can view a copy of the letter below.

Today the Senate will vote on cloture on S. 744, the Gang of 8’s comprehensive immigration reform bill, at 2:15 p.m.

Since the letter ad hit the streets, there’s been much discussion on both immigration reform and the letter.

Clark Ivory, a signatory of the letter, joined Doug Wright Monday morning to discuss the open letter and its call to action for Utah’s federal delegation. In his comments, Clark discussed the need for the Utah’s federal delegation to be problem solvers and the unique opportunity the delegation has to have a significant impact on the outcome of reform.

Clark was also very thankful for Senator Hatch’s significant and positive contributions thus far in the legislative process and is hopeful that the Senator will continue to provide much needed leadership.

Natalie Gochnour also joined Doug Wright to discuss other issues. However, the conversation led back to immigration reform, where Natalie emphasized the need for real leadership in D.C. and that no issue exemplifies that more than immigration reform.

In a second letter to Utah’s senators, the Chamber brought together 50 business leaders to advocate specifically for reforms addressing skilled-worker needs. It reads:

U.S. immigration policy has proven inadequate to address the needs of companies competing in a globalized, 21st-century economy. Tens of thousands of skilled foreign workers, highly trained science, technology, engineering, and mathematics (STEM) graduates of U.S. universities, and overseas entrepreneurs are being shut out of the U.S. economy by outdated restrictions and limitations. America’s competitor nations have capitalized on this shortfall by actively and aggressively revising their immigration policies to welcome many of the world’s best and brightest to their shores. Congress has an historic opportunity to reverse this international “brain drain” and send a strong message to skilled workers across the globe that the United States is open for business. There are currently proposals before the Senate aimed at significantly expanding the nation’s supply of skilled workers and innovators, including provisions to:

1) Increase the availability of temporary, skilled worker (H-1B) visas by substantially raising the annual cap and enabling additional market-based adjustments – creating a program that is more responsive to market demand while avoiding overly burdensome hiring and recruitment requirements.

2) Exempt all advanced STEM degree holders from U.S. universities from the annual employment-based green card cap – retaining more of these highly sought-after graduates in the U.S. and placing them on a fast track to permanent residency.

3) Create new INVEST visas and green cards for immigrant entrepreneurs who launch businesses in the U.S. and meet key job creation, revenue generation, and financing goals – addressing a significant policy gap and fueling the nation’s engine of economic growth and innovation

Here is an infographic highlighting how the Gang of 8’s immigration reform bill will make it so America will attract the top talent.

Also this weekend, both editorial boards from The Salt Lake Tribune and the Deseret News echoed our call for action and principles upon which reform should be based. You can find links to these editorials here:

Salt Lake Tribune – Immigration bill: Hatch should support reform

Deseret News – In our opinion: Politicians should use Utah Compact framework in immigration reform debate

Two years ago, community leaders launched The Utah Compact in support of civil, constructive and compassionate immigration reform. Thousands from around the world signed The Compact in support, and now your support has never been more important.

The first principle of The Compact states that immigration is a federal issue and urges Utah’s congressional delegation to lead efforts to strengthen federal laws. After years of apathy and neglect, the U.S. Senate is ready to act. Please take a moment right now to contact Sen. Orrin Hatch and Sen. Mike Lee and urge them to play constructive leadership roles, to improve and pass comprehensive immigration reform this year.

Consider using all four methods of communication below.

Senator Orrin Hatch
Facebook: facebook.com/orrin.g.hatch
Twitter: @OrrinHatch
Telephone: 202-224-5251
Website: www.hatch.senate.gov

Senator Mike Lee
Facebook: facebook.com/senatormikelee
Twitter: @SenMikeLee
Telephone: 202-224-5444
Website: www.lee.senate.gov

The U.S. House of Representatives is also beginning long over-due discussions on this issue. Please use this link to find contact information for your representative. Let them know that you support comprehensive immigration reform.

As immigration reform works its way through the legislative process, we continue to ask that you reach out to our federal delegation directly.

Below is the contact information for our Senators and remember what Clark expressed this week:

“I don’t need to be an expert to ask for action.”

Now is the time for Utah to lead.

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For more media on business leader’s letter to our federal delegation, see below:

Deseret News: Utah business leaders push for immigration reform

Click here for the KSL story and interview with Clark Ivory and Jason Mathis on this public call emphasizing this important need (the video at the top of this blog is from this news story).

 

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What’s Keeping These Business Leaders Up at Night?

Monday, June 10th, 2013

Statistics show that 3.8 million jobs in the United States sit vacant. Why?

In this video from the U.S. Chamber, the biggest concern is that our educational system isn’t preparing students with the critical skills needed to allow them to thrive in prosperous careers as well as in their own lives.

Watch the video above for more information on why this problem is keeping business leaders awake at night.

 

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This week on the Utah Business Report

Friday, June 7th, 2013

In case you missed one or more of the Salt Lake Chamber’s Utah Business Reports on KSL News Radio, here is a recap of what we talked about this week.

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Utah Business Week is celebrating its 32nd year this summer. The week-long business camp is held on the campus of Utah State University from July 28th through August 3rd.

At Utah Business Week, students interested in business get hands on experience building a business and competing with their peers.

Students will learn first hand from business leaders what it takes to succeed in business from marketing to business ethics.

Utah Business Week costs just $100—that’s less money than what you would pay to feed a teenager for a week!

So if you have a student who will be a high school junior or senior in the fall of 2013, go to www.utahbusinessweek.com today. Space is limited and registration closes June 14.

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Tanner LLC has added two key team members recently. Tanner LLC is a leading Utah-based accounting and consulting firm recognized for its performance and quality on a national level.

Gary Vickrey joined the accounting firm as a partner. Vickrey is a nationally recognized professional in leadership development and business transition. He previously served as president and CEO of JLSVickrey where he established Leadership Development Academies for global organizations and professional service firms worldwide.

Tanner LLC also added Dan Griffiths as director of strategic planning for the firm’s Leadership Solutions Practice. In 2011, he was recognized as the Outstanding CPA in Business and Management by the American Institute of CPAs.

Tanner LLC is a leading Utah-based accounting and consulting firm recognized for its performance and quality on a national level.

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The Tour of Utah, America’s Toughest Stage Race, is looking for volunteers. This year, the race will take place August 6th through 11th and around two-thousand volunteers are needed in a variety of positions. Volunteers can help out each day of the race, or for just one day.

For the first time, the Tour of Utah begins in southern Utah, starting in Brian Head and finishing in Park City.

Volunteers will get a unique behind-the-scenes perspective into what it takes to put on a major sporting event like the Tour of Utah. They also get a Tour of Utah t-shirt and other merchandise.

To sign up to volunteer or to learn more you can visit TourOfUtah.com.

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Responsible recycling of electronic waste is important to conserve natural resources and protect the environment.

From now through August, you can recycle your electronic waste–or e-waste–through a series of free recycling events by Salt Lake City Green. The recycling events all take place on Saturdays—with one coming up this Saturday, June 8, at the Smith’s Grocery Store near 900 East and 800 South. Each recycling event will run from 8 a.m. to noon.

A wide variety of electronics from city and county residents will be accepted. E-waste accepted at community collection events includes computers and parts, televisions, cell phones, printers, scanners and cameras. All the E-waste collected will be recycled by Metech, a recognized environmentally responsible recycling company.

So remember to recycle your e-waste this Saturday and keep our environment healthier.

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In July of 1847, the pioneers first entered the Salt Lake Valley. And this July we will celebrate that legacy with the Days of 47.

This year’s theme is “Pioneers – Our Anchor for the Future.”

From July 12 through July 24, the calendar will be packed with a variety of events to celebrate our Utah heritage, including concerts and festivals.

Of course, the most popular and well-known event is the Days of ’47 Rodeo. This year, the chute opens on the rodeo on July 19th and runs every day except Sunday through Pioneer Day. And this year, the Days of ’47 Rodeo is back at EnergySolutions Arena.

And of course, everything leads up to the Days of ’47 KSL 5 Parade that will take place in downtown Salt Lake City on July 24th.

So start planning your Pioneer Day celebration. For a complete list of everything going on, visit DaysOf47.com.

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For the full reports from this week and weeks past, visit KSL Radio online. Remember to tune in between 12:30 and 1 p.m. to KSL NewsRadio every week day on 102.7 FM or 1160 AM. If your business is doing something great, let us know and we may just feature it on the Utah Business Report. 

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Utah Business Week

Thursday, June 6th, 2013

One of the most valuable things teenagers can learn are real-life business skills.

Utah Business Week is celebrating its 32nd year this summer. The week-long business camp is held on the campus of Utah State University from July 28 through August 3 of this year.

At Utah Business Week, high school students interested in business get hands-on experience building a business and competing with their peers.

Students will learn first-hand from business leaders what it takes to succeed in business, from marketing to business ethics. Students work within teams to create a product, design a logo, and produce a radio commercial, among making different kinds of business decisions. Students will compete against other teams and be judged by professionals from the business community.

Utah Business Week costs just $100—that’s less money than what you would pay to feed a teenager for a week!

So if you have a student who will be a high school junior or senior in the fall of 2013, go to www.UtahBusinessWeek.com today for information on applying.

Space is limited and registration closes Fri., June 14.

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This week on the Utah Business Report

Friday, May 31st, 2013

In case you missed one or more of the Salt Lake Chamber’s Utah Business Reports on KSL News Radio, here is a recap of what we talked about this week.

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The state’s employment website, jobs.utah.gov receives around 1.2 million visits per month from half a million unique visitors. The website facilitated close to 12 million job referrals in the past year.

Now job seeking Utahns will find a newly revamped website designed to help them find the perfect job.

The new website creates a more user-friendly experience and even mobile compatibility with tablets and smart phones. It aims to increase efficiency with a more targeted approach to job-seeking.

Visitors will be able to seamlessly search and apply for jobs, find a nearby employment center, and access extensive labor market information and other services more easily than ever before.

The Utah unemployment rate has fallen to 4.9 percent, but there are still some 60-thousand people actively looking for work. The Department of Workforce Services is a great place to start—especially online at jobs.utah.gov.

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Salt Lake County Economic Development is being called one of the nation’s top performers in supporting innovation and entrepreneurship in the community. The ranking comes from the May 2013 edition of Site Selection Magazine.

The magazine says Salt Lake County is one of the areas “Best to Invest” in for 2013. These “Best to Invest” areas across the country demonstrated a resiliency to bounce back from economic setbacks.

During the Great Recession unemployment spiked and economic growth stalled. But since then, Utah has emerged as one of the strongest economies in the nation.

Salt Lake County Economic Development’s recently retired director Dale Carpenter credits Utah’s success to our productive workforce.

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The health benefits of silver are going main stream, and an Alpine, Utah-based company is at the forefront of it all. American Biotech Labs have sold more than 10 million units containing their revolutionary nano-silver technology.

American Biotech Labs recently released the first safety study on what’s called a silver supplement nano-particle. The study says that ingestion of the Lab’s patented nano-silver particle showed no negative effects anywhere in the body. Once ingested, the the nano-silver particle goes to work within two hours and clears the body within one day.

Silver has been used for its medicinal properties for thousands of years. The medical community and general public are finding that American Biotech Labs’ patented SilverSol Technology is becoming an effective and popular way to support their immune systems.

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The Salt Lake Chamber stands as the voice of business, we support our members’ success and we champion community prosperity. But championing community prosperity takes teamwork. We’d like to congratulate another great community partner today.

The United Way of Salt Lake is one of three affiliates worldwide to receive the United Way Common Good Award for Innovation. This is one of the highest honors presented by the organization.

The Salt Lake branch was recognized for innovation in early education programs in South Salt Lake. With the City of South Salt Lake and Voices for Utah Children, the United Way created the Early Learning Network to highlight the need for improved access to early learning opportunities in the community.

This year, the United Way of Salt Lake was also instrumental in developing a bill to improve access to early learning using a sustainable financing model. While the bill didn’t pass, the effort garnered a lot of good attention for the cause.

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Repertory Dance Theatre will receive a National Endowment for the Arts “Art Works” grant. The nonprofit was recommended for the $30,000 grant for “sense of place” touring support.

The money will enable Repertory Dance Theatre to offer affordable touring fees for presenters in underserved communities of Nevada, North Dakota and South Dakota. They will produce concerts and educational residencies using dance to celebrate environmental awareness and to encourage environmental responsibility.

During this unique tour, choreography will be created by Repertory dancers with community art partners and local dancers joining in the creative process. They will take the attributes of local landscapes and express them in music, visual and performing arts. Exploring the creative process together allows for development of a sense of place… and cause for a celebration of community.

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For the full reports from this week and weeks past, visit KSL Radio online. Remember to tune in between 12:30 and 1 p.m. to KSL NewsRadio every week day on 102.7 FM or 1160 AM. If your business is doing something great, let us know and we may just feature it on the Utah Business Report. 

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This week on the Utah Business Report

Friday, May 24th, 2013

In case you missed one or more of the Salt Lake Chamber’s Utah Business Reports on KSL News Radio, here is a recap of what we talked about this week.

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Salt Lake City International Airport is in rare air, both on a regional and international scale, according to a new ranking.

Salt Lake City International jumped five spots to rank as the 94th best airport in the entire world. The airport in the top spot for 2013 is Singapore Changi Airport.

Salt Lake City International also ranks as the ninth best regional airport, securing its spot among North America’s most active and popular airports.

Recent renovations in the restaurant and concession venues have increased the user experience at the airport.

Of course, we always want to get better and now we need you Visit MyAirportSLC.com to share your thoughts on what can be done to make the new terminal better. That’s MyAirportSLC.com.

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Earlier this year, the State Legislature created the Inter-generational Welfare Reform Commission and the Inter-generational Poverty Advisory Committee.

Both entities are charged to work together with community resources to explore strategies and solutions to help children escape the cycle of poverty and welfare dependency presented by inter-generation poverty.

The Commission has unanimously appointed the former presiding bishop of the L-D-S Church, Bishop H. David Burton, to serve as Chairman of both the Welfare Reform Commission and the Inter-generational Poverty Advisory Committee.

The Commission will examine and analyze shared data and information regarding inter-generational poverty; identify and develop effective plans, programs; and make recommendations to help at-risk children escape the cycle of poverty.

Bishop Burton’s understanding of support systems will bring a remarkable perspective to the Commission that will help them as they work to end the cycle of inter-generational poverty in Utah.

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The U.S. Chamber’s Enterprising States report recently called Utah a “boom” state, ranking us third in overall economic performance.

In this year’s report, Utah was the only state to rank in the top 10 in each of the five policy areas. Utah is called perhaps the best performing state overall, as it fosters business growth and job creation.

Enterprising States says the manufacturing and technology industries give Utah a major edge. During the Great Recession, the national manufacturing scene contracted while Utah saw slight growth. And Utah creates STEM-related jobs—Those are jobs based on science, technology, engineering and math, some of the most in-demand and highest paying–at the third fastest pace in the nation.

Utah also ranked third in exports and in business birthrate. In infrastructure, innovation and entrepreneurs, Utah ranked fourth, proving that our state is a great place to make a good idea into a profitable venture.

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Parr Brown Gee and Loveless has a new president—Stephen E.W. Hale was recently elected to succeed Heidi Leithead, who will stay with the firm as a shareholder.

As a trial lawyer, Hale has practiced with Parr Brown Gee and Loveless for his entire legal career.

Prior to practicing law, Hale worked as a CPA for an international accounting firm then known as Ernst and Whinney.

Hale has been recognized every year since 2007 in the Best Lawyers in America lists for commercial litigation and construction law.

He was named one of the top general commercial litigation lawyers in Utah in the 2010-2012 editions of “Chambers USA-America’s Leading Business Lawyers”, and was listed in the 2009-2012 editions of “Mountain States Super Lawyers.” Hale has also been consistently listed as one of Utah Business magazine’s Legal Elite since the program’s inception.

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The South Salt Lake Chamber of Commerce has a new president.

Gary Birdsall succeeds his own daughter as the new president and CEO of the South Salt Lake Chamber. Callie Birdsall has accepted a position as the Communications and Public relations manager for parks and recreation in Salt Lake County.

Gary Birdsall moved to Utah in the early 70′s after serving as a U.S. Army Infantry Captain. His career experience includes commercial banks, economic development with the state of Utah. He’s also worked for Questar and chambers of commerce in Davis County. For the past seven years, he directed a dramatic growth of BNI, or business networking, in Utah.

His wealth of experience in marketing, networking, public relations and economic development will be beneficial to his new role as president. We look forward to working with Gary and the South Salt Lake Chamber to make Utah’s economy even stronger.

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For the full reports from this week and weeks past, visit KSL Radio online. Remember to tune in between 12:30 and 1 p.m. to KSL NewsRadio every week day on 102.7 FM or 1160 AM. If your business is doing something great, let us know and we may just feature it on the Utah Business Report. 

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Utah ranked top economic outlook & performance in Rich States, Poor States study

Friday, May 24th, 2013

The nation is stuck in a slow recovery but Utah’s economic status is one to envy. According to many reports Utah is one of the top economic performers in the country, and also has the best outlook of the bunch. All of this despite policies from the federal government that actually hinder economic growth.

The sixth edition of the Rich States, Poor States economic competitiveness study, released by the American Legislative Exchange Council, is the most recent to list Utah as having the Best Economic Outlook–for the sixth year in a row, no less.

Among the 15 important state policy variables from which the Economic Outlook rankings were deduced, Utah ranked in the top spot in the Estate/Inheritance Tax Levy, State Minimum Wage, and as a Right-to-Work State. Other variables where Utah ranked in the top ten include Personal Income Tax Progressiveness (2), Top marginal Corporate Income Tax Rate (8), State Liability System Survey (9), and Average Workers’ Compensation Costs (6). The lowest ranking Utah received was 31st in Sales Tax Burden.

Seven out of 15 in the top 10 isn’t bad!

As far as economic performance goes, Utah ranked third on the list behind Texas and Nevada. Economic Performance was ranked on a ten-year timeline in three categories that are highly influenced by state policy: State Gross Domestic Product, Absolute Domestic Migration and Non-Farm Payroll Employment.

The combined economic outlook and performance rankings gives Utah an overall number one score.

Each state wants to be economically competitive and Utah is doing quite well, thanks to a business-minded Legislature and governor, and an increased focus on education to improve economic prosperity.

“I want to thank the authors of Rich States, Poor States and ALEC for providing policymakers and the public with this valuable resource,” said Utah Sen. Pres. Wayne Niederhauser. “There is no question that states like Utah are reaping the benefits of sound fiscal policy. It is clear that limited regulation, low taxes, low debt and balanced budgets create the best environment for business, investment and jobs.”

Rich States, Poor States is an annual economic competitiveness study authored by Dr. Arthur Laffer, Stephen Moore of the Wall Street Journal, and Jonathan Williams, Director of the Tax and Fiscal Policy Task Force at the American Legislative Exchange Council. This study “reviews fiscal policies that contribute to economic growth compared to policies that detract from such growth.”

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Report: Total regulatory burden hits $1.8 trillion annually

Thursday, May 23rd, 2013

Editor’s note: This article originally appeared on Free Enterprise, the U.S. Chamber of Commerce blog.

$1.8 trillion buys a lot of red tape.

That’s how much the federal regulatory machine is costing Americans each year, according to the 20th edition of the Competitive Enterprise Institute’s Ten Thousand Commandments report.

This huge number is $50 billion more per year than what a Small Business Administration study found in 2008.

In an op-ed in the Daily Caller, the report’s author Waynes Crews along with CEI’s Ryan Young note “that the cost of regulation has exceeded half the size of the federal budget.” And in the report, it notes that cost of complying with federal regulations is more than the economic output of Canada or Mexico.

Here are some other unfortunate facts about the federal regulatory system:

- 78,961 pages were added to the 2012 Federal Register. While that may be a lot of pages, itonly was the fourth-most prolific year of all time (81,405 pages were added in 2010).
- 2,517 rules were proposed in 2012, the most since 2003.
- Of the over 4,000 regulations in the pipeline, 224 are “economically significant,” meaning they’ll cost more than $100 million.
- The top five rule-making agencies of 2012 were the Departments of Treasury, Commerce, Interior, Agriculture, and Transportation. If you include EPA, which is sixth, these agencies accounted for 48% (1,953) of all federal rules.

This costly, unaccountable system needs reform. To remain globally competitive, we need a regulatory process that properly weighs rules’ benefits and costs and is transparent to the public.

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