3. Utah

The economy is great in the Beehive State, but it fumbles on education by underfunding its schools.

A snowbird skiing in Utah.
Scott Markewitz | Getty Images
A snowbird skiing in Utah.
2018 Rank
2017 Rank
Workforce 265 11 18 B+
Infrastructure 246 10 9 B+
Cost of Doing Business 198 23 24 (Tie) B
Economy 251 2 4 A+
Quality of Life 206 12 20 B
Technology & Innovation 133 19 18 (Tie) B-
Education 87 34 34 (Tie) D+
Business Friendliness 103 12 16 B
Access to Capital 64 18 18 (Tie) B-
Cost of Living 29 22 17 C+
Overall 1582 3 8 -

Economic Profile

Governor: Gary Herbert, Republican

Population: 3,101,833

GDP growth (Q4 2017): 2.2 percent

Unemployment rate (May 2018): 3.0 percent

Top corporate tax rate: 5 percent

Top individual income tax rate: 5 percent

Gasoline tax: 29.41 cents/gallon

Bond rating (Moody's/S&P): Aaa, stable/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 (excluding 18.40 cent/gallon federal tax), Moody's Investor Service, S&P Global Market Intelligence

Top States Past Year Rankings

  • CNBC unveils its 12th annual America's Top States for Business study. See where your state ranks in 2018.

  • CNBC unveils its 11th annual America's Top States for Business ranking for 2017, scoring all 50 states on 10 key measures of competitiveness.

  • Top States promos Arm Wrestling

    CNBC unveils its 10th annual America's Top States for Business ranking, scoring all 50 states on 10 key measures of competitiveness.

Latest Special Reports

  • Shoppers walk inside the Westfield Santa Anita mall during the outbreak of the coronavirus disease (COVID-19), in Arcadia, California, June 25, 2020.

    Coverage of the world's largest retail trade organization's annual conference.

  • Innovative female entrepreneur examining prototype

    In an era of rapid technological advances and demographic change, how do legacy companies adapt, innovate and evolve? CNBC Evolve features iconic global companies and executives who are embracing change and transforming for the future.

  • The personal and economic pain from the COVID-19 pandemic is being felt all over the world. As a result of this unprecedented disruption, businesses owners and employees are dealing with an immeasurable level of suffering and facing scenarios they never could have imagined. Through expert analysis and advice from proven business leaders, The Path Forward explores the extraordinary challenges businesses are facing and offers ideas to help owners navigate this global crisis and thrive once again.