For the 16th straight year, Utah was named the No. 1 state in the nation for economic outlook in the annual Rich States, Poor States: ALEC-Laffer State Economic Competitiveness Index. Building on a policy of lower taxes, practical regulations, minimum reliance on the federal government, a surging job market, low 2.4% statewide unemployment — Utah has established a solid economic model that bolsters business.
According to Rich States, Poor States, the ranking is a forward-looking forecast based on the state’s standing (equal-weighted average) in 15 important state policy variables. Unfortunately, several other state economies in the U.S. continue to falter with falling revenue, due to high taxation and over-regulation that drives individuals and job creators to search for more reasonable areas to call home such as Utah.
Utah’s success was built from hardworking, forward-thinking business leaders and legislators who invested years of implementing sound economic policy designed to create jobs, spur innovation and promote competition. Planning and preparation has placed Utah in a strong position to recover and succeed even in challenging years such as the COVID-19 pandemic.
Layton, Utah’s citizens enjoy a thriving economy with growth in business and career opportunities. With a vibrant culture and strong economic growth, it’s no wonder the city is one of the best in the state to live. A consistent commitment to corporate excellence and business-friendly policymaking has kept Utah moving in a positive upward trajectory for years to come.