Utah leads the nation in economic outlook for 18th straight year, report
For the 18th year straight, Utah ranked at the top of the nation for the economic outlook in the published by the .
The study weighed 15 variables including tax rates, expenditures, minimum wage, and tax burdens, among others. Utah beat out other states such as Tennessee, Indiana, North Carolina, and North Dakota, which rounded out the Top 5 in that order.
Utah State officials said Tuesday that the nearly two-decade run at the top of the study has not been by chance but by choice.
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'Utah proves what's possible when people are empowered to build,' said Gov. Spencer J. Cox. 'This ranking reflects what happens when we trust Utahns to lead, solve problems, and shape their own future. By keeping government limited and focused on the essentials, we've created the freedom and opportunity for prosperity to take root and grow.'
Utah lawmakers said the state has created an environment where businesses, jobs, and families can thrive. Speaker Mike Schultz said the state's continued success is a product of focus on 'the fundamentals' such as low taxes, spending, and family-friendly, business-friendly policies.
Jonathan Williams, the ALEC President and co-author of Rich States, Poor States, said since 2007 when the report began, he has seen states fall behind by standing still. He said those states that don't continue to make their policy environment more competitive have not held their positions.
'This has not been the case in Utah, where leaders have continued to find improvements, and the state has remained at the top of our economic outlook rankings,' said Williams.
While the forward-looking outlook has consistently ranked top of the nation, the Rich States, Poor States report is not as favorable on Utah's Economic Performance rank. The performance rank is a 'backward-looking measure,' the report explains, based on the state's performance in GDP growth, non-farm employment growth, and domestic migration.
Utah still ranks third in the nation for Economic Performance, putting it just two away from the top spot.
Utah leads the nation in economic outlook for 18th straight year, report
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