Utah’s metro areas top the nation in economy and growth

This entry was posted on Friday, July 6th, 2012 at 7:40 am and is filed under Chamber News, Economic Development, Utah Rankings. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

It’s becoming a well-known fact Utah is one of the best states for business, college graduates and economic outlook.

The Atlantic Cities recently listed Salt Lake City as having one of the top fastest growing job markets in the U.S. The Atlantic determined the top cities in economic and job growth with data from the Bureau of Labor Statistics.

Utah’s capital was also listed as one of the “15 Hottest American Cities of the Future,” according to Business Insider. Factors considered were economic measures and sociocultural to see which U.S. cities are “best positioned to thrive in the next 20 years.”

But Salt Lake City isn’t the only Beehive metropolitan area getting attention. Out of the nation’s 200 largest metro areas, Forbes determined that Provo topped the charts when it came to business and careers and Ogden took the sixth spot. For this ranking, Forbes focused on the cost of business, education, past and projected job growth along with a number of quality of life factors.

“Utah’s dynamic metropolitan economies are built not only on the foundation of astonishing entrepreneurial drive and strong business savvy, but a deep-rooted dedication to family and quality of life,” said Spencer Eccles, executive director of the Governor’s Office of Economic Development.

Provo, in particular, was noted for its nation-leading low rate of violent crime, job growth (three percent) and also the Brigham Young University-led economy worth $16 billion.

In fact, Forbes says that startup companies stemming from research by the University of Utah and Brigham Young University largely drive Utah’s economic success and job growth.

“Thanks to Gov. Gary Herbert’s commitment to education and responsible energy development,” said Eccles, “Utah’s coveted talent pipeline and the low cost of doing business will continue to power the state’s future economic success.”

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