Utah Named #1 in Economic Growth Potential by Business Facilities Magazine
August 6, 2014Tags: Business Facilities Magazine
The awards keep rolling in. Utah has been named #1 in the Economic Growth Potential category in Business Facilities magazine 2014 Annual Rankings Report. The magazine gave props to the “busy beehive” state for their fast and vast economic growth since Gov. Herbert took office in 2009.
“He set a daunting goal of making Utah the number one performing economy in America and the premier global business destination,” Business Facilities magazine reports. “ The results can’t be denied: a 3.9 percent unemployment rate [actually, we’re now down to 3.5 percent unemployment], the second fastest growing economy in the nation, a highly diverse mix of thriving industry sectors and a well-educated, rapidly expanding population (43 percent of adults have post-secondary level degrees) that enjoys arguably the best quality of life in the U.S.”
The report highlights the many aerospace manufacturing, composite fabrication, IT, data centers, software, and digital media companies that come to the state and take advantage of its great business climate, which incidentally Utah was named #2 in Business Facilities Best Business Climate category.
Utah also topped the following lists in the annual report:
- #2 in Best Business Climate
- #9 in Best Infrastructure
- #4 in Best Credit Quality
- #6 in Best Employment Leaders
- #10 in Natural Gas Production Leaders
- #9 in Best Business Tax Climate