Business In Utah - 2021

Page 78

Work force

The state’s educated and youthful workforce helps Utah

A Prepared Workforce

companies thrive. Utah is a right-to-work state, places a

Utahns embrace education as a means for personal growth and career advancement, which means the state’s talent pool is wellinformed and prepared to meet industry’s needs. Additionally, 100% of both personal and corporate Utah state income tax dollars are spent on education.

high value on education, and has the nation’s youngest demographics. This combination delivers a workforce eager and ready to meet the needs of any industry. Job Growth Rate — Utah’s employment grew by 3.3% between Dec. 2018 and Dec. 2019, while the national growth rate was 1.4%. Unemployment Rate — Utah’s unemployment rate was 2.3% in Dec. 2019. Jobs Gained — Utah gained 50,400 jobs between Dec. 2018 and Dec. 2019. Average Non-Farm Wage — The average wage was $49,619 in Jan. 2020.

Economic Leadership and Job Growth Utah’s prosperity is not limited to a handful of industries. Nearly every private sector industry in the state saw growth in 2019. The fastest-growing industries in Jan. 2020 were: • Leisure and Hospitality Services (7.5%) • Construction (7.3%) • I nformation (7.1%) — Includes publishing, motion picture and sound recording, telecommunications and internet service providers Source: Utah Department of Workforce Services

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Among Utah adults, 91.8% have earned at least a high school degree, compared to the national average of 88%. Among Utahns age 25 and older, 32.5% have a bachelor’s degree or higher. Source: U.S. Census Bureau, American Community Survey, 2017 5-year estimates


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Quality of Life

9min
pages 90-100

Infrastructure

6min
pages 86-89

Government

6min
pages 80-83

Utah: A Global Hub for Investment

2min
pages 74-75

Education

1min
pages 76-77

Workforce

3min
pages 78-79

Healthcare

1min
page 85

Utah’s Path To Economic Recovery Runs Directly Through Global Markets

3min
pages 72-73

Utah’s Top 10 Economic Development Stories in 2020

3min
pages 70-71

Utah Regional Economic

2min
pages 68-69

Price: A Town of Endless Opportunities

2min
pages 64-65

Vernal’s Innovation Hub

2min
pages 66-67

Abra Kanabra

3min
pages 61-63

Cache Valley: Economic Success at the Top of the State

3min
pages 56-57

Heber Valley: Reimagining Tourism’s Role in the Community

4min
pages 58-60

Iron County Shines

3min
pages 53-55

Rural Workforce Network Brings Economic Development Opportunities to Rural Utah

2min
pages 49-50

A Place for Remote Work in Rural Utah

2min
pages 51-52

Utah’s Science Guy

3min
pages 45-46

Opportunities Abound in Utah’s Software and Information Technology Arenas

2min
pages 47-48

BioHive: The Fastest-Growing Life Science Ecosystem in the Nation

3min
pages 43-44

Utah: Green Energy Hub of the West

3min
pages 39-40

Giving Utah Small Businesses and Entrepreneurs a Competitive Advantage

3min
pages 37-38

When It Comes To Banking, Utah Takes Center Stage

2min
pages 41-42

Growth and Expansion Continues for Utah’s Aerospace and Defense Companies

3min
pages 34-36

Utah Inland Port Authority

3min
pages 28-30

Utah’s Entrepreneurial Spirit is at the Core of its Advanced Manufacturing Companies

2min
pages 32-33

Targeted Growth Through

2min
page 31

What’s The Point?

3min
pages 26-27

Building Bridges Between

2min
page 23

STRATA Connects

3min
pages 24-25

Corporate Recruitment

2min
pages 12-13

Delivering Innovative

3min
pages 21-22

Utah’s Economy Amid a Pandemic

5min
pages 10-11

Utah Film Industry Adapts to Pandemic

2min
pages 16-17

A Tent As Old As Time

3min
pages 18-20

Utah’s Tourism Industry

3min
pages 14-15
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