UTAH: THE BEST STATE FOR BUSINESS

Business is booming in Utah as the state continues to be at the forefront of innovative and awe-inspiring economic opportunity initiatives. Its robust list of accolades includes Best Economy, Best Economic Outlook, and Most Independent State. Impressive gains in several important sectors of Utah’s economy like construction, financial services, manufacturing, and trade have made it hard to deny: Utah really is the best state for business.

1. UTAH IS ONE OF THE BEST PLACES FOR EMPLOYMENT

In August 2022, Utah was determined the No. 2 best state for job opportunities by the U.S. News & World Report. Additionally, Provo-Orem ranked first in the Milken Institute’s Best-Performing Cities of 2022 for employment and wage growth over the past five years, as well as the highest one-year employment growth. It’s not just urban areas that continue to make strides, either — Logan and St. George ranked 1st and 2nd respectively in the Best-Performing Small Cities report.

Perhaps even more impressive than its other acknowledgments, Utah also was ranked the best state for work-life balance by Business Insider. Utahns work just 37.3 hours a week on average, and the state also has one of the highest Glassdoor work-life balance review scores.

2. UTAH HAS THE BEST ECONOMY IN THE NATION

No matter who you ask, Utah’s economy can’t be beat. The Wall Street Journal even dubbed Utah “America’s Economic Star” for its overall business climate and economic competitiveness. 24/7 Wall St, WalletHub, and U.S. News have all recognized the Beehive State for having the best economy in the nation, and 2022 marked Utah’s 15th year with the title of best economy in the nation by the American Legislative Exchange Council.

“Utah’s example of collaboration, good policy, and a forward-thinking mentality remains a shining example for the rest of the nation to follow,” House Speaker Brad Wilson, R-Kaysville, said in a statement. “We are honored to receive this award for the 15th consecutive year and will continue working to pass policies that keep Utah the best state to live, work, and play.”

3. UTAH IS THE #1 STATE FOR THE MIDDLE CLASS

The middle class has historically been the largest economic group in the nation, and Utah is no exception. For three years in a row, Utah has remained the state with the highest percentage of middle-class households and second-most equitable income distribution. Additionally, Utah’s Gini index — a measure of income inequality, where 0 indicates perfect equality and 1 indicates perfect inequality — is the second-lowest nationwide, at 0.42. This signals great economic strength for Utah’s working class, families, and young adults.

Make no mistake, Utah is the place to be. For those seeking work, the state offers high employment rates and a wide range of career opportunities. For entrepreneurs, Utah boasts a strong economy and a continually increasing stream of demand. No matter who you are or what you do, we have a place for you in our rapidly growing economy. Our state isn’t just the best state for business — it might just be the best place for you.