8. Utah
Rivernorthphotography | Istock Unreleased | Getty Images
Utah Score and Ranking
| CATEGORY | 2022 SCORE | 2022 RANK | 2021 RANK | 2022 GRADE |
|---|---|---|---|---|
| WORKFORCE | 269 | 8 | 17 | A- |
| INFRASTRUCTURE | 182 | 32 | 7 | C- |
| COST OF DOING BUSINESS | 210 | 17 | 22 | B+ |
| ECONOMY | 258 | 6 | 3 | A |
| LIFE, HEALTH & INCLUSION | 150 | 29 | 27 | D+ |
| TECHNOLOGY & INNOVATION | 132 | 26 | 19 | C+ |
| BUSINESS FRIENDLINESS | 139 | 10 | 10 | B+ |
| EDUCATION | 72 | 41 | 26 | D+ |
| ACCESS TO CAPITAL | 32 | 12 | 17 | C+ |
| COST OF LIVING | 26 | 25 | 26 | C |
| OVERALL | 1470 | 8 | 3 |
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.