#16 Utah


#5 in Taxation and Regulation

#1 in Workforce Quality

#5 in Living Environment

Right to Work?

Regional Profile – West

STATE
OVERALL REGIONAL RANK
TAXATION & REGULATION REGIONAL RANK
WORKFORCE QUALITY REGIONAL RANK
LIVING ENVIRONMENT REGIONAL RANK
California
9
9
9
9
Colorado
3
6
7
2
Idaho
5
2
2
1
Montana
6
5
4
4
Nevada
1
3
6
8
Oregon
8
8
8
7
Utah
4
4
1
3
Washington
7
7
3
5
Wyoming
2
1
5
6

Key Industries

Aerospace, Financial Services, I.T., Biotech, Natural Resources, Recreation, Software Development

Key Companies

AutoLiv ASP

Goldman Sachs

Huntsman Corp.

Nu Skin

Overstock.com

Royal Bank of Scotland

SkyWest

Advantages

CEOs ranked Utah first in workforce quality in 2016. Utah also ranked 10th in the country for third-quarter 2015 GDP growth, the last date for which the data was available.

Challenges

Living and working in Utah is not for everyone; the prominent role of the Mormon Church deters significant numbers of potential relocators.

Key Contacts

Office of Economic Development

Q. Val Hale, Executive Director
801-538-8680
60 East South Temple,
3rd Floor
Salt Lake City, UT 84111

edwards@utah.gov
http://business.utah.gov/

CEO Comments

“Utah and Wyoming chose not to expand Medicaid and they have the highest rates of suicide in the country.”

“Utah is becoming a desired business location due to affordable housing, a good workforce and a less cumbersome regulatory environment.”

Current Developments

2015 REGIONAL REPORT: The West
July 29, 2015

5 Great States for Biotech Companies
May 8, 2014

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No 9: Utah

No. 9

Utah

Taxation and Regulations
Workforce Quality
Living Environment

Based on CEO Survey by ChiefExecutive.net

Key Metrics
Taxation and Regulations
  • State Corporate Income Tax Rate: 5%
  • Highest Personal Income Tax Rate: 5%
Workforce Quality
  • % with High School diploma or more: 90.4
  • % with Bachelor’s degree or more: 29.1
  • % with Advanced degree or more: 9.4
  • Patents per 100K: 36.54
  • % of Employed Represented by Unions: 8.4
Quality of Life
  • Hopsitals per 10K: 0.17
  • Elementary/Secondary Schools per 1000 people: 0.359
  • Violent Crimes per 100K: 205.46
Key Companies
  • Overstock.com Inc.
  • Zions Bancorporation
  • Huntsman Corp.
  • Autoliv
  • SkyWest
  • Nu Skin
Other Highlights
  • Utah stayed steady at #9 from 2010 to 2011 — the state took #15 in 2009
  • Utah ranks 36th in state debt per capita with $3379

Sources:
TaxFoundation.org
Statemaster.com
Bureau of Labor Statistics
U.S. Census Bureau
U.S. Patent and Trademark Office
The National Center for Public Policy and Higher Education