CNBC Ranks Utah #3 Top State for Business
Other High Rankings from the Milken Institute, Business Facilities Magazine
For the second year in a row, CNBC has ranked Utah the No. 3 Top State for Business, recognizing Utah's economy, high quality of life, and business friendly environment.
"This ranking highlights our constant effort as a State to maintain a strong economic foundation," Utah Governor Jon Huntsman said. "Our unmatched quality of life, livability, and dynamic workforce make Utah a great place for businesses, employees, and their customers."
Utah's annual job growth is the third highest in the nation at 1.4 percent with the national average at 0.1 percent. While our state's job growth is slowing, we continue to add jobs. Our unemployment is the third lowest in the nation at 3.2 percent, significantly lower than the national average at 5.5 percent. Utah provides businesses with a young, highly educated and hard working workforce pool, vital for continued success.
Utah was also recently recognized as No. 1 for Technology Concentration and Dynamism by the Milken Institute in their State Technology and Science Index, which gave the State a No. 8 ranking overall.
Business Facilities Magazine just ranked Utah as a top ten state in five core areas: Business climate, manufacturing momentum, most educated workforce, drugs and pharmaceuticals (top ten medium metropolitan area: Provo-Orem, No. 5), and medical devices and equipment (top ten large metropolitan area: Salt Lake City, No.2).