Fewer out-of-state businesses, from corporations to retailers, are looking to expand in Utah or anywhere else right now and many consumers and businesses nationally are buying less of nearly everything, including Utah-made goods.

How the state and its business community can continue to prosper in this uncertain economic environment is the focus of The Governor's Utah Economic Summit on Thursday at the Grand America Hotel in Salt Lake City.

The conference, in its second year, includes a variety of sessions designed to help business people succeed, from finding business financing, marketing products and services, marketing globally and recruiting and retaining key employees and business expansion. Speakers include Gov. Jon Huntsman Jr., Wells Fargo & Co. economist Kelly Matthews and Josh James, chief executive officer of Omniture, an Orem company that produces software to track Web site usage and improve online marketing.

"The national economy has been slowing and the impacts certainly have been felt here," said Jason Perry, executive director of the Governor's Office of Economic Development. "At the conference, we'll talk about how we can maintain our economic pre-eminence as things are slowing around us."

A recession is generally described as at least two consecutive quarters of decline in the gross domestic product. Many economists believe our national economy is either heading toward recession or in one now.

At the state level, recessions are hard to define, but Matthews of Wells Fargo believes Utah is not in recession and faces little threat of falling into one. But he said the state undoubtedly will be affected in a variety of ways.

The first is the slower job growth. But Matthews said it's important to keep in mind that the state is still adding jobs.

"Our job growth is significantly slower than we're used to, but it's still not as bad as a lot of other places," Matthews said.

Perry said the summit is intended to help not only business owners and mangers succeed through education and networking but people who are thinking about going into business or have an idea for one. "Everyone interested in our economy is going to find something helpful in this conference," he said.

lesley@sltrib.com