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Utah Score and Ranking
| CATEGORY | 2024 SCORE | 2024 RANK | 2023 RANK | 2024 GRADE |
|---|---|---|---|---|
| INFRASTRUCTURE | 272 | 4 | 29 | A |
| WORKFORCE | 215 | 16 | 6 | C- |
| ECONOMY | 245 | 6 | 6 | B+ |
| QUALITY OF LIFE | 150 | 30 | 38 | D+ |
| COST OF DOING BUSINESS | 152 | 26 | 22 | B- |
| TECHNOLOGY & INNOVATION | 111 | 32 | 23 | D+ |
| BUSINESS FRIENDLINESS | 156 | 12 | 7 | B- |
| EDUCATION | 45 | 43 | 44 | C- |
| ACCESS TO CAPITAL | 34 | 28 | 23 | D+ |
| COST OF LIVING | 16 | 41 | 39 | D+ |
| OVERALL | 1396 | 13 | 9 |
Economic Profile
Governor: Spencer Cox, Republican
Population: 3,417,734
GDP growth (Q1 2024): 2.4%
Unemployment rate (May 2024): 2.9%
Top corporate tax rate: 4.65%
Top individual income tax rate: 4.8%
Gasoline tax: 50.31 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 (including 18.40 cent/gallon federal tax), Moody's Investor Service, S&P Global Market Intelligence
