The magazine's 'Best States' ranking measures six categories for business, including costs, current economic climate, growth prospects, labor supply, quality of life and regulatory environment. Forbes noted that while states across the nation have suffered as a result of the national economic downturn, some states, like Utah, have weathered the downturn better than others. (Deseret News)
Newsweek Nov 8, 2010.
While nearly every local economy succumbed to the frozen credit markets, failing to grow much during the last two years, Utah has flourished. It set its own records for new companies (more than 40) and capital investment (nearly $2 billion). That has helped sustain an average of 3.5 percent annual growth during the last five years, more than any state, other than energy-rich North Dakota. The University of Utah recently tied MIT for creating the most companies out of its patented research: more than 80 since 2005. The 75-mile corridor stretching from Ogden in the north to Provo in the south, has absorbed massive new data centers for eBay, Twitter, and Oracle; splashy new offices for Disney Interactive, EA Sports and a commitment from Adobe-the makers of Flash and Acrobat-to build a thousand-person software-development campus. Gov. Gary Herbert touts how he is 'making the state business-friendly while California is doing the opposite.'
Utah Best for Jobs- Success
Utah's National Ranking Employment & Income
#1 'Best State for Business and Careers'&'Most Fiscally Fit State' Forbes
#1 'Expected Economic Recovery' &'Economic Outlook' American Legislative Exchange Council
#1 'Number of Research Produced Business Start Ups' University of Utah
#1 '5% Annual Household Income Increase'
#2 '3.5% annual economy expansion'
#4 '1.5% employment increase'
#5 or Better '1950 to 2009 Percent of Change
Non-Farm Employment' #8 or Better 'AAA Bond Rating'
'Decrease of corporate tax rate from 7 percent to 5 percent' Deseret News
'Energy Costs 35% below National Average' & '45% World Export Increase'