Utah continues to receive high marks for its economic performance and outlook as of early 2026. National publications and economic institutes consistently rank the state at the top of several categories, highlighting its resilience.
As of early 2026, Utah has secured several notable recognitions:
- Economic Outlook: For the 18th consecutive year, the American Legislative Exchange Council (ALEC) ranked Utah first in the nation for its economic outlook in their Rich States, Poor States 2025 report.
- Best State Overall: U.S. News & World Report named Utah the best state in the nation for the third year in a row (2025), citing a combination of economic strength, education, and infrastructure.
- Best State Economy: WalletHub ranked Utah second for the “Best State Economy” in its June 2025 update.
- Best State to Start a Business: In January 2026, Utah was recognized by WalletHub as one of the top environments for entrepreneurs and new businesses.
- Layton City was recently ranked in a separate B2B Review as the second-best small business-friendly City in Utah.
- The state currently ranks first in social mobility, reflecting a high potential for residents to improve their economic status over time.
Recent reports, including the 2026 Economic Report to the Governor, highlight specific sectors and factors contributing to this recognition:
- Aerospace and Defense: Now accounts for nearly 20% of Utah’s GDP, contributing over $100 billion annually and supporting 500,000 jobs.
- Hill Air Force Base, located along the north boundary of Layton City, continues to be Utah’s largest single site employer, providing over $12.7 billion in annual economic impact to Utah in 2024. It was reported that Hill AFB provided more than 26,800 jobs, over $2 billion in annual payroll, over $4 billion in annual expenditures and over $6 billion in indirect economic impact in 2024. That same report also disclosed that more than $4 billion was spent locally on local goods and services, local construction, and on local food and hospitality for traveling personnel.
- Unemployment: Remained robust at 3.6% (as of Dec 2025), consistently outperforming the national average (4.4%).
- Job Growth: Utah added approximately 21,800 jobs throughout 2025, with education, health services, and professional services leading the gains.
- Tech Concentration: Utah ranks 10th nationally for tech industry concentration and first for tech industry growth, often referred to as “Silicon Slopes.”
- Energy Production: In 2025, Utah reached an all-time high in oil production, estimated at 70 million barrels, providing a substantial boost to the state’s natural resource sector. At the same time Utah’s Governor signed multiple MOU’s with Idaho National Lab and multiple private partners authorizing support for and development of Small Modular Reactors in Utah, to add to the State’s energy portfolio to meet rising energy demands now and into the future.
Utah’s reputation as an ideal business hub stem from a rare combination of fiscal stability and a highly skilled, young workforce. The state consistently maintains a coveted AAA bond rating and is one of the most favorable tax environments in the nation, providing a predictable landscape for long-term corporate investment. Utah offers an unmatched quality of life, where world-class outdoor recreation is minutes away from major metropolitan centers, making it a powerful magnet for recruiting and retaining top-tier talent.