Utah Celebrates Success at International Trade Summit
SALT LAKE CITY – Governor Spencer Cox declared that Utah has firmly established its place on the national stage, following the state’s recognition as the best in the U.S. for the third consecutive year by U.S. News and World Report. Speaking at the Crossroads of the World International Trade Summit—a two-day event featuring business and political leaders—Cox attributed Utah’s success to its strong human capital and unique mindset of abundance.
Cox emphasized that the state excels because residents favor collaborative growth over zero-sum thinking, referencing the book "Superabundance" by Utah Tech University professor Gale Pooley. The governor argued that human ingenuity is the most vital resource, stating, “The greatest resource we have are our people.”
Natalie Gochnour, director of the Kem C. Gardner Policy Institute, shared compelling statistics supporting Utah’s standing: the state boasts the third most educated workforce in the nation, the lowest poverty rate, and the highest median household income when adjusted for living costs. The Gardner Institute reported that Utah’s international trade is thriving, with merchandise exports at $18.2 billion and imports at $21.9 billion in 2024, supporting over 70,000 jobs. Key trading partners include the United Kingdom, Canada, China, and Mexico.
However, Gochnour also highlighted challenges posed by recent tariffs implemented during the Trump administration. While she remained neutral on the policies, she acknowledged their potential negative impact on trade and the state’s economic climate, particularly regarding housing affordability and consumer confidence.
As Utah continues to thrive, the summit reflected optimism and forward-thinking strategies aimed at sustaining the state’s growth amidst global uncertainties.
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