Executive Director’s Message

Utah continued to lead the pack in economic development during the 2018-2019 fiscal year, but that’s nothing new. For a decade, Forbes has ranked Utah a top-three Best State for Business, including six number one spots. In November 2018, Forbes ranked Utah the No. 2 Best State for Business.

The state continues to have a lot to boast about: a thriving economy, record rates of job creation and low unemployment are just a few of the state’s shining stars. Thanks to Gov. Gary Herbert’s leadership and economic development tools provided by the Legislature, Utah’s prosperity is envied and admired by other states.

Utah has one of the most diverse economies in the nation, anchored in information technology, life sciences, aerospace and defense and outdoor products. Because of our diverse economy, Utah is less likely to experience the extreme economic stress other states know all too well.

In addition to the recognitions already mentioned, other recent accolades Utah received include the No. 1 state for Best Performing Large City from the Milken Institute (Jan. 2019), the No. 2 state for the Best Economy from U.S. News & World Report (May 2019), and the Best State to Start a Business from WalletHub (July 2018).

A major contributing force to the state’s economic prosperity is our young, entrepreneurial and highly-educated workforce. In fact, Utah has America’s lowest median age at 31 (U.S. Census, June 2019). Q. Val Hale Utah GOED Executive Director 801-538-8769 vhale@utah.gov

Fostering that young talent is what GOED’s Talent Ready Utah initiative does best. Connecting industry with education to build Utah’s talent pipeline is the program’s mission. In 2019, Talent Ready Utah added two new programs to help fill the state’s workforce needs — Utah Works and Talent Ready Apprenticeship Connection.

The Office of Tourism continued to draw local and international acclaim with its Red Emerald initiative, creating Utah travel experiences that are rare, distinct and unique to the state. In FY 2019, tourists generated an impressive $15.9 billion in revenue while visiting Utah’s Mighty 5 national parks, in addition to Utah’s many national monuments, historic sites, state parks and the beautiful areas in between.

Despite all this success, GOED is always looking for ways to improve our administration of Utah’s economic development programs and services on behalf of the Utah Legislature. We are committed to our mission of providing resources and support for business creation, growth and recruitment, and we continue to champion Utah’s unparalleled economic success.

In Utah, we are truly living “Life Elevated.”