UTAH: THE BEST STATE FOR BUSINESS
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usiness 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 even Best State Overall. Impressive gains in several important sectors of Utah’s economy, such as construction, financial services, manufacturing and trade, have made it hard to deny: Utah really is the best state for business.
UTAH IS THE BEST PLACE FOR EMPLOYMENT Utah has the hottest job market in the U.S. In May 2023, Utah was determined the No. 1 best state for job opportunities by the U.S. News & World Report. Additionally, for the third consecutive year in a row, Provo-Orem ranked first in the Milken Institute’s BestPerforming Cities of 2023 due to its strong five-year job and wage 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. Whether in a big city or a small town, anywhere in Utah is a great place to work.
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LIFE IN UTAH 2024 | SLCHAMBER.com
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 and U.S. News & World Report have both recognized the Beehive State for having the best economy in the nation, and 2023 marked Utah’s 16th consecutive year with the title of best economic outlook in the nation by the American Legislative Exchange Council. Plus, with the second-highest GDP growth rate according to the U.S. News & World Report, Utah’s premier economic status isn’t likely to change anytime soon.
UTAH IS THE #1 STATE FOR SMALL BUSINESS According to WalletHub, Utah is the best state to start a business. What’s more, four of the top five best small cities for starting a business are in the state — Washington, St. George, Cedar City and Logan. This is in part due to our state’s pro-business initiatives and
support systems like the Women’s Business Center of Utah and the Small Business Administration. All in all, if you’re looking to start a business, there’s a famous Utah saying for you: “This is the place.” 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.
WANT THE L ATEST AND GREATEST ECONOMIC STATISTICS? Scan here to view the most recent Road to Prosperity Dashboard, updated monthly by the Salt Lake Chamber and the Kem C. Gardner Policy Institute at the University of Utah:
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