4. Utah

With the nation's second-highest growth, the economy still has not reached the top. But neither has the cost of living.

Utah State flag painted on a wooden surface
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Category
Score
2019 Rank
2018 Rank
Grade
Workforce 258 18 11 C+
Economy 297 3 2 A+
Infrastructure 193 17 10 B
Cost of Doing Business 217 18 23 B+
Quality of Life 219 9 12 B-
Education 99 20 34 B-
Technology & Innovation 96 21 19 C+
Business Friendliness 118 13 12 B
Access to Capital 50 19 18 B
Cost of Living 26 25 22 C+
Overall 1573 4 3 -

Economic Profile

Governor: Gary Herbert, Republican

Population: 3,161,105

GDP growth (Q4 2018): 1.8%

Unemployment rate (May 2019): 2.9%

Top corporate tax rate: 4.95%

Top individual income tax rate: 5%

Gasoline tax: 30.01 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