Salt Lake City is ranked fourth among the top cities for young professionals in a list published by Forbes today.
Utah’s capital city is lauded for, “A large number of small businesses per capita, a high concentration of banks and good paychecks mean the ‘Crossroads of the West’ offers opportunity to young professionals.”
Salt Lake City was ranked behind Des Moines, Iowa; Raleigh, North Carolina; and Madison, Wisconsin.
For more information, read the full article here.
To hear the Chamber comment on the ranking on KSL Newsradio, CLICK HERE.
Forbes also points out that Salt Lake City has job growth of 1.32 percent, that’s the second highest rate among the top five cities on the list. Big name companies like Goldman Sachs, Twitter and Adobe have all invested significantly in Salt Lake City. You can see a list of some of the businesses hiring HERE.
Young professionals are attracted to Salt Lake City for a number of reasons: high tech companies are growing here and there’s no shortage of outdoor activities like hiking, rock climbing, mountain biking, or enjoying the Greatest Snow on Earth.
Let’s not forget that younger professionals are often prefer time with their iPads and smartphones than time behind the wheel. Our first-rate transit system is a draw not to be underestimated.
Our investment in technology is paying off. The creation of the Utah Science Technology and Research (better knows as USTAR) attracts top talent, as well as and more than $130 million in capital funding to benefit more than 80 companies started in the past four years. Last year the University of Utah surpassed MIT and every other school in the nation for the highest number of research-produced start-ups.
Utah has always benefitted from a well-educated, young population. If there is reason for concern it’s the relatively low rate of college graduates in Salt Lake City (just 29.7 percent according to Fortune, more than 11 points lower than the three cities we trail on the list). That number needs to increase to ensure we have the professionals to fill the jobs we are creating. Business leaders understand education is the key to enduring prosperity and they have set a goal to have two-thirds of all Utahns hold a college degree or certificate by the year 2020. You can learn more about the efforts of Prosperity 2020 by clicking HERE.