Accolades Continue for Utah’s Top-Ranked Economy

The state of Utah is number one, and continues to lead with its growing economy. Utah’s economy ranks No. 1 among all 50 states, according to rankings just released by U.S. News & World Report, a global authority in economic rankings. The publication’s rankings are based on about 70 metrics and thousands of data points to capture how states best serve their citizens across eight categories including: healthcare, education, infrastructure and the economy.

The state’s robust list of accomplishments certainly demands attention, including being the best-managed state in America, and is the number one state for economic outlook and recovery.

Utah also boasts a Triple-A bond rating, dating back to 1965 when Standard & Poor’s initiated its rating system. Today, all three rating organizations continue to classify Utah with a Triple-A bond rating.

Some of the state’s most recent No. 1 rankings include:

  • “Most Independent State” – 2020’s Most & Least Independent States – WalletHub, June 2020
  • “Best Economy” – The States With the Best and Worst Economies – 24/7 Wall St., August 2020
  • “Best Economy” – U.S. News & World Report, March 2021
  • “Best Economic Outlook” – Utah ranked No. 1 for the 14th year in a row in Rich States Poor States, May 2021
  • “Best States for GDP Growth” – Utah was No. 1 for GDP Growth, Forbes 2021
  • “Best State Economy” – Utah ranked No. 1 for best economy per WalletHub, June 2021
  • “Best-Performing Large Cities” – Best-Performing Cities 2021, No. 9 – Ogden-Clearfield, Milken Institute, February 2021. Layton City is in the Ogden-Clearfield metropolitan statistical area

These impressive rankings certainly confirm what locals have known for years — Utah is the best state in the nation for economic opportunity, education, and quality of life. Layton, Utah’s local economy is thriving.  Annual sales tax revenue continues to climb each year, and sales tax hit a new high of $2.14 billion for Layton during the past fiscal year.

The city’s commercial and home-based business licenses have grown consistently for decades, with commercial business averaging an 8.7% increase each year and home occupations a 15% increase. With consistent economic growth and a highly skilled workforce, it’s no wonder Layton City is one of the most robust cities in the U.S. to live.