1. Utah

With a sweet economy and an industrious workforce, the Beehive State is America’s Top State for Business.

Top States Utah
Source: George Kavallines
Category
Score
2016 Rank
2015 Rank
Workforce 251 12 29 (Tie)
Cost of Doing Business 212 19 (Tie) 13 (Tie)
Infrastructure 207 13 30
Economy 275 3 1
Quality of Life 218 13 20 (Tie)
Technology & Innovation 158 16 15
Education 108 23 31
Business Friendliness 98 10 5 (Tie)
Cost of Living 44 22 11 (Tie)
Access to Capital 27 24 21
Overall 1598 1 3

Economic Profile

Governor: Gary Herbert, Republican

Population: 2,995,919

GDP growth: 3.3 percent

Unemployment rate (May 2016): 3.8 percent

Top corporate tax rate: 5 percent

Top individual income tax rate: 5 percent

Gasoline tax: 47.81 cents/gallon

Bond rating/outlook: Aaa, stable

Major private employers: Intermountain Health Care, Extra Space Storage

Economic profile sources: U.S. Census Bureau, U.S. Bureau of Economic Analysis, U.S. Bureau of Labor Statistics, Federation of Tax Administrators, American Petroleum Institute, Moody's Investor Service, S&P Global Market Intelligence

Latest Special Reports

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  • Coverage of the World Economic Forum’s annual meeting in Davos, Switzerland.

  • To turn the page on structural racism, communities are Changing The Narrative. In this series, CNBC explores the central themes of racial healing through stories addressing implicit bias in economic data, the major obstacles to racial equity at work, how fiscal investment can change the narrative on minority entrepreneurship and the ramifications of the great resignation in the Black community.