In spite of difficulties brought on by the COVID pandemic, the outlook for Utah’s economy is bright. As national economic reports are coming in after the pandemic, Utah is still recognized as one of the strongest economies in the country. The Beehive state is still one of the best places to do business.
Utah has successfully defended its top position for the Best Economic Outlook on Rich States, Poor States list for 14 continuous years, along with its top ranking on the Fox Business list since 2012. Utah features a unique partnership among businesses and economic development organizations throughout the state. Business and government leads work together to develop innovative solutions and create economic initiatives that help businesses thrive.
These collective efforts have earned national recognition for Utah in 2021 with respected industry publications including: WalletHub’s Number One Best State Economy, CNBC’s No. 3 Top State for Business, and the Best Economy from U.S. News and World Report.
Layton, Utah’s local economy is also thriving. Annual sale tax revenue continues to climb each year and recorded sales tax exceeded two billion for Layton over this past fiscal year. Layton City, Davis County’s largest city and top economy has actually expanded during these challenging times – thanks to strong, steady business growth in spite of the coronavirus pandemic. The city has averaged over 2,800 commercial and home occupied business licenses each year from 2017 through 2020. With consistent economic growth and immediate access to Utah’s great outdoors, it’s no wonder Layton City is one of the best cities in the U.S. to live.