Top States for Business

8. Utah

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Utah Score and Ranking

CATEGORY  2022 SCORE  2022 RANK 2021 RANK  2022 GRADE 
WORKFORCE269817A-
INFRASTRUCTURE182327C-
COST OF DOING BUSINESS2101722B+
ECONOMY25863A
LIFE, HEALTH & INCLUSION1502927D+
TECHNOLOGY & INNOVATION1322619C+
BUSINESS FRIENDLINESS1391010B+
EDUCATION724126D+
ACCESS TO CAPITAL321217C+
COST OF LIVING262526C
OVERALL147083

Economic Profile

Governor: Spencer Cox, Republican

Population: 3,337,975

GDP growth (Q1 2022): -2.0%

Unemployment rate (May 2022): 2.0%

Top corporate tax rate: 4.95%

Top individual income tax rate: 4.95%

Gasoline tax: 31.91 cents/gallon

Bond rating (Moody's/S&P): Aaa, stable/AAA, stable

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.

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