For the 5th time in the last 6 years Forbes Magazine names Utah the number 1 State for Business and Careers. According to Forbes Utah is a tech destination and represents the low-cost alternative to California.
Forbes’ tenth annual Best States ranking factors in 40 data points across six main areas: business costs, labor supply, regulatory environment, economic climate, growth prospects and quality of life. Business costs, which include labor, energy and taxes, are weighted the most heavily.
Utah fares well across the board in the metrics Forbes used, landing in the top six in five of the six broad categories used to determine the Best States for Business.
Here are some of the reasons for Utah’s number 1 placing.
• Pro-Business / Light Regulation.
• Low energy costs which are 23% below the national average.
• Employment has expanded 2.2 percent in the last five years which is the 3rd best in the country.
Because of these reasons Utah has attracted some of the biggest tech companies, the likes of eBay, Oracle, Microsoft and Twitter have setup offices over the last few years.
For more information please visit Forbes Best States for Business/.