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News Room

Forbes Ranks Utah Best State for Business

November 16 2016 - 4:39 pm

News Release
For Immediate Release

Contact:
Aimee Edwards
GOED Communications Director
(801) 538-8811
edwards@utah.gov

Forbes Ranks Utah Best State for Business

SALT LAKE CITY (Nov. 16, 2016) — Forbes magazine today named Utah the 2016 Best State for Business and Careers. Utah has ranked no. 1 on the list six out of the last seven years, with 2016 marking the third consecutive year in the top spot.

“Utah leads by consistently adhering to a conservative economic approach,” said Gov. Gary R. Herbert. “Reducing regulation, spending within our means and finding innovative solutions are important to maintaining our business-friendly environment and benefits Utah residents for years to come.”

Utah has been ranked no. 1 for economic outlook every year since 2008 and currently has the fourth most diverse economy in the country. Forbes listed Utah’s regulatory climate, job growth and fiscally sound government as a few of the reasons the state earned such high marks. In addition, the magazine points to the state’s rapidly growing tech sector as a major boon to its economy. The study, now in its 11th year, incorporates 40 metrics from 17 sources in six categories.

“Utah’s unprecedented partnerships between business, government, education and our communities ensure a winning economy,” said Val Hale, executive director of the Governor’s Office of Economic Development. “Forbes’ intricate methodology highlights our successes, which we achieve through collaboration. It’s only in working together that we’ll continue to see steady, sustainable economic growth.”

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About the Utah Governor’s Office of Economic Development (GOED)
business.utah.gov
The Governor’s Office of Economic Development (GOED) charter is based on Gov. Gary R. Herbert’s commitment to statewide economic development. The state’s economic vision is that Utah will lead the nation as the best performing economy and be recognized as a premier global business environment and tourist destination. GOED provides extensive resources and support for business creation, growth and recruitment statewide, as well as programs to increase tourism and film production for the benefit of Utah residents. All administered programs are based upon strategic industry clusters to develop a diverse, sustainable economy. GOED accomplishes its mission through unprecedented partnerships. For more information please contact: Aimee Edwards, (801) 538-8811 or edwards@utah.gov.