Huntsman also wants to improve Utah's IT sector, which he says was strong, but has weakened in recent years as areas such as Austin, Texas; Ann Arbor, Mich.; and northern Virginia have moved ahead.
"Utah has to change its culture," he says. "We need to be known as a business friendly state fueled by entrepreneurship at the local level and growth and innovation at the state level through our research universities. My intention is to make Utah hot. I want this to be known as a state that produces successful entrepreneurs and creates jobs for the longer term by giving them the tools to do it. Today, we don't have the tools. Many complain that if they want to do an IPO, Utah doesn't offer advisory services. We have talent in the state, but we've never done a good job of aggregating it."
Huntsman is not keen to get into incentive battles with other states.
"We're never going to be able to buy our way to prosperity. We can fall back on our natural advantages and that will mean more in the long term. We have a growing population base, excellent universities that are producing technologically competent, hard-working graduates and a quality of life that's second to none. Our work force is noted for its high degree of ethics and strong work values."
Huntsman believes the state has to re-examine its economic development efforts in light of the high-tech companies that have left the state in recent years. He plans to start by reforming the state's tax system, including eliminating the sales tax on food purchases. He says the state's tax code is antiquated and must be improved to make the state more competitive during a period when the state's population, growing at twice the national average, is projected to double by 2050.
"The question is, "How do we pay the bills for the needs of our burgeoning population?' " Huntsman says. "We must prepare our economic base to pay the bills that are coming due over the next 20 years.
But will the legislature cooperate with Huntsman's ambitious agenda?
"I think so," the new governor says. "I haven't been a legislator myself, but I've built some good bridges with the legislature and I have friends in leadership positions. They know what my mantra is. Philosophically, we're in agreement on most things."