Utah Celebrates Third Consecutive "Best State" Ranking
SALT LAKE CITY – In a significant acknowledgment of its economic growth and innovation, Utah was named the best state in the nation for the third consecutive year by U.S. News and World Report. Governor Spencer Cox shared this news during his address at the Crossroads of the World International Trade Summit, an exclusive event hosted by Zions Bank and World Trade Center Utah, which brought together global business leaders to discuss pertinent international trade issues.
Cox attributed Utah’s success to the state’s strong human capital, highlighting the residents’ "abundance mentality" over a zero-sum mindset. Drawing on themes from the book "Superabundance" by Utah Tech professor Gale Pooley, he emphasized the critical role of human ingenuity in transforming resources into valuable commodities. “The greatest resource we have are our people,” Cox remarked.
Supporting this narrative, Natalie Gochnour, director of the Kem C. Gardner Policy Institute, reported Utah boasts the third most well-trained workforce in the U.S. and the lowest poverty rate nationwide. Furthermore, adjusted for cost of living, the state has the highest median household income in the country.
Utah’s economic performance in international trade is notable, with merchandise exports totaling $18.2 billion and imports reaching $21.9 billion in 2024. This robust trade activity supports over 70,000 jobs, with the United Kingdom, Canada, China, and Mexico being the state’s largest trading partners.
However, Gochnour also pointed to concerns arising from recent tariffs imposed by the Trump administration, recognizing the potential negative impacts on trade and housing affordability amidst declining consumer confidence. As Utah continues its trajectory of growth, these challenges present both opportunities and hurdles for the state’s future.
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