Utah remains one of the top states for business according to the annual “Best States for Business” study from CNBC, coming in at #4, down one spot from last year.
CNBC ranked Utah in 10 categories to come up with their overall ranking. Utah was in the upper half of states in all 10 categories. The state’s economy was ranked #3 overall, while quality of life was rated 9th best. Education, cost of living and infrastructure were among the lowest-ranked categories. Utah’s ranking for education improved dramatically, jumping 14 places from 34 in 2018 to 20th this year. The infrastructure rank dropped 7 spots to #17.
Cost of doing business
Quality of life
Technology & innovation
Access to capital
Cost of living
CNBC said Utah’s high ranking was primarily due to the second-best economic growth in the nation last year, along with the state’s finances and a top credit rating. Utah also was near the top because of the rapidly growing tech sector and a surge in manufacturing.
Utah was behind North Carolina, Texas and Virginia in the rankings.