The Economic Development Corporation of Utah (EDCUtah) has announced the selection of Theresa A. Foxley as the organization’s new president and CEO. EDCUtah’s executive committee recommended Foxley after an exhaustive search and her selection was approved at a recent special meeting of the organization’s board of trustees.
Foxley replaces Jeff Edwards, who retired from EDCUtah in November.
In addition, EDCUtah announced the promotion of Michael Flynn to the position of chief operating officer. Flynn has been serving as EDCUtah’s chief of staff during the CEO search. He has been with EDCUtah for more than a decade and recently relocated back to Utah from North Carolina, where he served as vice president of economic development services for the Charlotte Regional Partnership.
Foxley assumes her new role at EDCUtah after most recently serving as the deputy director of corporate recruitment and business services at the Governor’s Office of Economic Development (GOED), where she oversaw all of the business development functions of incentives, government contracting, bonding and business resources. During her tenure, Foxley worked with dozens of companies on expansion and relocation projects, including Goldman Sachs, Vista Outdoors, Procter & Gamble, Solar City and Stadler Rail.
Prior to her time at GOED, Foxley served as a business and finance attorney with the Salt Lake office of Ballard Spahr, a law firm with 14 offices nationwide. At Ballard Spahr she represented a diverse set of clients on corporate and financial matters, including mergers and acquisitions. Foxley has also served as corporate counsel to a venture-funded company during its acquisition by, and integration with, a larger publicly traded company.
“The board of trustees is delighted to have Theresa join EDCUtah,” said Dean Luikart, senior vice president at Wells Fargo Bank and chairman of the EDCUtah board of trustees. “Her familiarity with EDCUtah, our public-private business model and the critical role the organization plays in growing Utah’s economy made her the best possible candidate for this important job. As EDCUtah enters its 30th year of business, I’m confident that she can help place the organization in the best possible position for future success.”
“Theresa Foxley is an excellent choice to lead EDCUtah,” said Gov. Gary Herbert. “She has a good understanding of economic development and business needs. In addition, her strong relationships with GOED and other key government and business leaders across the state will help make the transition seamless. GOED will miss Theresa, but we look forward to partnering with her and the EDCUtah team as the state continues recruiting quality businesses.”
“Salt Lake County congratulates Theresa on her selection, said Salt Lake County Mayor Ben McAdams. “As the Utah home of many small, medium and large businesses, we consider economic development to be a top priority for diversifying our tax base and promoting wage growth. Our metro region seeks to become even more strategic and competitive in order to build on past success and EDCUtah is an important part of our success.”
“It’s a tremendous honor to accept the position of president and CEO at EDCUtah,” said Foxley. “The organization has a proud legacy and serves a critical role inside the state of Utah. The talented staff, broad base of support in both the public and private sectors, and unique positioning with client companies from around the world makes this an exciting opportunity.”
Foxley will begin her work with EDCUtah on a limited basis while on maternity leave with her first child. She will consult with the EDCUtah team on day-to-day activities remotely until she starts full time with EDCUtah in mid-March.