THREE CHEERS FOR UTAH!
This week Utah received great acknowledgement for our desirable economy and future growth projections. Forbes Magazine listed Utah as the front runner of its 2012 list of the Best States for Business for the third year in a row! What is it about Utah that is making such an impression? Our fiscal stability, pro-business policies and impressive workforce is causing a rippling effect with significant results.
Governor Gary Herbert says, “Our economy continues to outpace the national trend because we budget on sound principles and maintain a business friendly environment.” Jeff Edwards, CEO of EDC Utah shows confidence in Utah’s stability. “You know what the tax rate is going to be today; you know what the tax rate will be in 10 years. This isn’t a state that’s out borrowing money.” Any corporation would love such predictability.
Utah’s workforce is applauded for being loyal, dependable and hard working. There is a high percentage of the workforce that speaks a second language fluently. The bilingual benefit is largely attributed to a high number of returned missionaries of The Church of Jesus Christ of Latter-day Saints.
Salt Lake Chamber economist, Natalie Gochnour, reports “2012 was surprisingly strong. We’re now back to the job growth rate that we saw pre-recession and we’ve made up for all of those jobs that we lost. Utah has the fifth-fastest growing economy in terms of job growth, and three of the four ahead of us- North Dakota, Texas and Oklahoma- are energy states.” The 2012 Economic Outlook report by the Salt Lake Chamber states, “Provided some degree of resolution to the fiscal cliff is achieved, Salt Lake County wages and salaries are expected to grow by 5.8 percent in 2013. Employment across all sectors is expected to grow by 2.5 percent during the same period, and the unemployment rate will end the year at 5.3 percent.”
Good work, Utah! I am pleased to be part of an economy that is growing because of hard workers, smart government and corporations that are providing growing opportunities for the people. I don’t know about you, but these positive reports fill me with motivation to keep working hard in order to continue to see results we all can enjoy.
Blog Archive2016-03-04 11:45:30
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Utah's Hot Housing Market
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Utah in Top 100 Places to Live
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First Quarter Mortgage Reports
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The Effect of Student Loans on Housing Recovery
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December Existing-Home Sales
Mortgage Rates Continue a Slow Climb
Home Equity in 2013
Expected Decline in Mortgage Delinquency Rate
Median Sales Price Comparison
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