Utah was named the 3rd best state for doing business, a two place improvement over last year’s 5th place. The CNBC yearly study takes into several categories to come up an overall score depicting the best states in which to do business. Here is how Utah did in each category.
Cost of Doing Business 16th
Quality of Life 15th
Infrastructure & Transportation 28th
Technology & Innovation 18th
Business Friendliness 4th
Cost of Living 20th
Access to Capital 1st
Utah did pretty well in all categories with the exception of education and transportation. The large class sizes and small budget severally impacted the education score, dropping 7 places from 39 to 46. The same drop was seen in transportation which fell from 21st to 28th. Looking on the positive side the economy ranking went from 10th to 6th, which is not really surprising given Utah’s 3.8% unemployment rate. There were also improvements for Quality of Life (+6), Cost of Doing Business (+5), Workforce (+7), Innovation (+5), and Access to Capital (+6).
For more information on how they came up with these rankings and to see how other states performed you can visit CNBC Top States For Business.