Please note: This information was last updated many years ago and is here to preserve a historical record. The contents of this post may be out of date and no longer applicable to GOED's work.

Utah is the best state for business largely because of its strong economy. Over the last five years, Utah’s GDP grew the fifth fastest of any state, and between 2012 and 2013, the number of new private establishments grew at more than double the national pace. The strong economy has likely contributed to increased entrepreneurial activity in Utah — another indicator of the state’s strong business climate. The average venture capital deal was valued at $18.9 million in Utah, the second highest average funding nationwide.