In any competitive endeavor, consistency is an important factor for success. When it comes to the annual Forbes Best States for Business rankings, Utah exemplifies this trait.
Forbes just released their 2019 rankings, and Utah took the #3 spot, edged out by North Carolina and Texas, and finishing ahead of other perennial leaders Virginia, Florida, and Georgia. This marks a decade-long streak in which Utah has taken a “podium spot” – that is, a #1, #2, or #3 ranking.
Since 2007, Utah is the only state to have maintained a #3 or higher ranking.
There are many factors that attract business to Utah such as the labor supply, regulatory environment, economic climate, growth prospects, and quality of life. Companies find value in the low energy costs that fall below the national average by 16%. Job growth continues to improve as it is up 2.9% in 2019.
Theresa Foxley, president and CEO of the Economic Development Corporation of Utah, commented, “Utah is able to consistently perform year after year because of a young, healthy, and growing workforce, our geographic advantages, and an engaged private sector. Furthermore, our state and local governments are not just business-friendly, they are business-focused.”
In 2019, Utah finished well ahead of #9 Colorado, #10 Idaho, #13 Nevada, #18 Arizona, #30 Montana, and #48 New Mexico.
More here: https://www.forbes.com/places/ut/