Utah has a growing economy and is experiencing a rapid increase in developing high technology and telecommunications companies. The state's economy has received a significant boost as awareness grows about the extraordinary opportunities, the home-grown talent, the natural resources, and the recreational experience.

“There is presently a fundamental shift occurring in Utah,” says Governor Huntsman. “For many years, this was a place to which companies would expand by moving divisions to Utah; now we are seeing a strong trend toward them moving headquarters here.”

In addition, a major study performed in 2008 by the Ewing Marion Kauffman Foundation rated Utah the number one U.S. state for “Economic Dynamism” —a measure of the number of per capita jobs created in fast growing “gazelle” companies, Inc. 500 and Deloitte Technology fast 500 companies, patents issued and other leading entrepreneurial and economic indicators.

In the words of Governor Huntsman, “I would rather be the number one for dynamism than for any other category…Dynamism suggests that something truly exciting is happening in our economy and business environment."

Economy Highlights

• Utah Ranks #1 For Expected Economic Recovery
  American Legislative Exchange Council

• Explosive Job Growth—In 2008, Provo/Orem ranked first in the nation for job growth, Salt Lake City ranked third.
  Milken Institute, 2008

• In 2007 Utah had an unemployment rate of 2.8% compared to a national average of 5.0%

• “Most Dynamic Economy in the Nation” —Kauffman 2007 State New Economy Index

• Average technology salary is 66% higher than statewide average annual nonagricultural wage.