ST. GEORGE — On a day when Gov. Spencer Cox told those gathered at the One Utah Summit why there is no better place to live and work, U.S. News released its “Best States” ranking.
And Utah ranks No. 1.
The strength of the Beehive State’s economy permeated throughout the report, released Tuesday, as a major factor in its superior ranking.
“The Utah way is a mindset that invites innovation and challenges the status quo,” Cox says in a commentary he prepared for U.S. news. “And I believe it’s a key reason why we are No. 1 in the latest edition of the Best States rankings from U.S. News & World Report.”
And one finance expert says this kind of innovation is attractive to entrepreneurs considering Utah as a base of operations.
“I think Utah has one of the strongest economies in the country and has for some time,” said Phil Dean, the chief economist and public finance senior research fellow at the University of Utah’s Kem C. Gardner Policy Institute, in a link to the report.
Dean served in the administration of former Republican Gov. Gary Herbert and added that the state has a “stable tax and regulatory structure,” which is “what business leaders want.”
U.S. News’ 2023 Best States rankings employed more than 70 metrics and thousands of data points to capture how all 50 states serve their residents, the report said. The rankings focus on eight categories, including health care, education, crime and corrections and natural environment.
In earning the top spot in the overall standings, Utah ranked as follows: fiscal stability and economy (1st), infrastructure (4th), education (6th) and health care (7th). The state also scored highly in crime and corrections (15th) and opportunity (20th).
While the state was in the top 20 in seven categories, it ranked 46th in one area: natural environment. This topic “encompasses metrics reflecting pollution threats and air and water quality.” Hawaii ranked No 1 in this category.
Utah’s solid economy is augmented by another factor — its natural beauty. According to a survey conducted by the Kem C. Gardner Policy Institute, access to outdoor recreation is the “No. 1 factor for tech sector employees to live and work in Utah” and a major contributor to younger families settling in the state.
Copyright St. George News, SaintGeorgeUtah.com LLC, 2023, all rights reserved.