Statistics from the Bureau of Economic Analysis show Utah’s GDP grew 3.1% between 2016 and 2017, which was fifth-fastest in the nation.
Governing magazine found that every state but three had positive GDP growth during that time frame. Utah’s growth was behind only Washington (4.4%), Colorado (3.6%), Nevada (3.5%), and Arizona (3.2%).
BEA’s figures identified professional, scientific and technical services as the largest contributor to the state’s GDP growth, followed by health care and retail trade. The arrival of numerous large technology companies and newer startups in the Provo-Orem area are driving much of the economic gains, while the rest of the state also continues to benefit from strong tourism.
Steep population gains explain much of the state’s GDP numbers. Utah has been one of the fastest-growing states for years, with the latest Census estimates showing a nearly 2 percent increase for 2017. On a per capita basis, Utah’s GDP rose just 1.2 percent for the year, mirroring the national rate.
The only states with negative GDP growth were Connecticut, Louisiana, and Kansas.
