Research Weekly - Utah is #1 Again!
Each year Business Facilities magazine, an economic development and site selection website, publishes a report that ranks states and metro areas across a number of categories. This year, the 12th Annual Rankings Report was full of references to Utah and Salt Lake City. Even South Jordan was included as the fifth fastest growing metro in the country. Highlights include Utah being ranked #1 in Credit Quality and Job Growth Leadership, and Salt Lake City received the #1 ranking for Entrepreneurial Leadership.
Earning top rankings in these categories is more than just bragging rights; site selectors and top business leaders monitor each state’s economic conditions to know the next new place to set up shop. Utah’s #1 job growth has, in part, been catalyzed by businesses moving to the state as a result of these types of rankings. As Utah leads the way in infrastructure, business-friendliness, tax policies, etc., we pave the way for, and gain the attention of, decision makers who may bring more business to the state.
“Utah, with the youngest, fastest-growing and well-educated population, continues to exhibit seemingly limitless potential. According to an analysis of the BLS statistics by Arizona State University’s W.P. Carey School of Business, Utah not only ranked first in overall nonfarm job growth, but also was No. 1 in job creation for several sectors of the economy, including retail trade, financial activity and professional, scientific and technical services.”
--Business Facilities (2016)
Here are the Utah rankings:
#1 Credit Quality
#1 Job Growth Leaders
#2 Best Business Climate
#2 Economic Growth Potential
#4 Broadband Leaders
#8 Solar Power Installation Leaders
#9 Best Infrastructure
#9 Best Business Tax Climate
#10 Employment Leaders
Here are Salt Lake City’s rankings:
#1 Entrepreneurship Leaders
#4 Economic Growth Potential
#9 Lowest Cost of Business
Here is South Jordan’s ranking:
#5 Fastest-Growing Metros