America’s Top States for Business
CNBC’s annual study once again puts all 50 states to the test, measuring them on more than 85 different metrics in 10 key categories of competitiveness.
8. Utah
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, RepublicanPopulation: 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, stableEconomic 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.
