Utah is Just Good Business Sense

In recent years numerous smaller businesses and tech giants like Adobe, Facebook, and even Google have been moving and growing their presents in this beautiful place we call Utah.  This is not all there has also been a boom in overall business growth for companies that were already hear.  Indeed Utah has been ranked by WalletHub: the best state to start a business in 2024 and so far is ranked 3rd for 2025.

Why Utah?

Why is it that Utah is so attractive to businesses?  Is it the local economy or the climate? Location or resources? The talent pool or quality of life?  Well the short answer is "yes".

EDTIF

In 2005 the Utah Legislature created the Economic Development Tax Increment Financing (EDTIF) corporate incentive program.  This is a tax credit or grant that is meant to bring in companies to Utah to create new, high-paying jobs, increase the tax base, and help diversify state and local economies. And depending on location within Utah and other criteria, businesses may be granted anywhere from 30% to 50% of new state tax revenue from the project that may be given in a post-performance tax credit. Combine this with Utah's lower cost of living make the Beehive State from an economic view very desirable to businesses and corporations.

Resources and Talent

Utah has a wealth of resources such as copper, Iron, and manganese, the state boast as one of the top manufacturing hubs in the country. but more than materials it is also the workforce that is here.12 major Colleges and Universities with more than 212,000 students combined call Utah home. In fact according to bioutah.org more than 91% of the population age 25 years or over has a high school diploma and more than 30% of those have a bachelor’s degree, giving Utah a very highly educated workforce.

Location and Quality of Life

One factor that many tend to overlook is the happiness of the people that work for them.  While many employers want to have their workforce productive, it is always better to have a good level of moral.  And a way to improve it is by the amount of activities that can be had outside of the work space.  Utah is home to of course the "Mighty Five" five of the countries National Parks and numerous other national monuments, a plethora of camping, hiking, and other outdoor sporting locations and world class snow during the winter.  There is no shortage of things to do at anytime of year giving any workforce a chance to let off some steam from the daily grind.