Pollina Corporate Ranks Utah #1 for Pro Business States
Pollina Corporate Real Estate has now voted Utah #1 of the Top 10 Pro Business States for four years in a row. Here are some highlights on Utah’s latest ranking from Pollina’s 81-page report:
“Utah has been a consistent national leader when it comes to being pro-business and shows no signs of slowing down any time in the future with low taxes, an excellent workforce, and a top notch economic development agency.” Polina Corporate says, “Governor Herbert, has proven that not only is he able to preserve the efforts of past administrations but he has the ability to build on these past efforts to maintain Utah’s very pro-business operating environment.”
Pollina specifically recognized EDCUtah for our efforts in bringing business to Utah. They noted that the collaboration of EDCUtah and the Governor’s Office has resulted in the jump from a #23 ranking in 2005 to the #1 ranking that it has today, something that occurred in just seven years.
“Considerable credit for achieving the #1 rank and holding for four consecutive years must be given to the highly-regarded Economic Development Corporation of Utah,” states Polina.
EDCUtah is happy to have been a part of Utah’s successes. Utah is full of industrious and driven people and the entire state should be proud of the recognition it has received. The entire excerpt is cited below:
A true success story under Governor Gary Herbert’s leadership, Utah #1 has held the top position for the fourth year in a row. In 2005, Utah ranked #23 and by 2012 it ranked #1 moving up in rank 22 places in only seven years. Utah is a great example of what enlightened and motivated political leadership can accomplish across multiple administrations with a solid plan. Utah has been a consistent national leader when it comes to being pro-business and shows no signs of slowing down any time in the future with low taxes, an excellent workforce, and a top notch economic development agency. Governor Herbert, has proven that not only is he able to preserve the efforts of past administrations but he has the ability to build on these past efforts to maintain Utah’s very pro-business operating environment. Utah continues to be the most pro-business state with close proximity to West Coast markets, lending strong weight for distribution and other industries that rely on being a day’s drive from California. Unless there is a compelling reason to remain in #50 California, #32 Oregon, or #30 ranked Washington, Utah #1 presents an exceptionally pro-business western U.S. alternative.
Considerable credit for achieving the #1 rank and holding for four consecutive years must be given to the highly-regarded Economic Development Corporation of Utah. Governor Herbert and his administration should be commended for their efforts to remain competitive in this highly competitive region, as they have clearly worked consistently over time to preserve the tools that Utah needs to remain the most pro-business state in the country. Utah ranked #1 in Stage I, Labor, Taxes and Other Factors, and scored highly in High School Completion (A), College Completion (B), Unemployment Rate (A), and Workers Compensation (A). The state also scored very strongly across all tax categories such as Corporate Tax (A), Individual Income Tax (B), Sales & Gross Receipt Tax (B), Business Inventory Tax (A), and Property Tax (A). Utah had a strong showing in terms of Right-to-Work legislation (A), Regulatory Environment (A), Litigation Environment (A), and Cost of Electricity (B). The two areas where Utah has room for improvement are Teacher Compensation (C), and College Funding Per-Student (D). In terms of Stage II, Incentives and Economic Development Agency Factors, Utah ranked #18. The state scored highly for their state Marketing/Website/Response to new & existing employers (A) but has room for improvement in the state Incentive programs (D).
To read the entire Pollina Corporate “Final Master Top 10 Business States of 2015,” CLICK HERE.