Utah attracts investors and immigrants alike, and the excellent economic standing of the state is the force behind this. In the first part of 2016, The Economic Report to the Governor documented Utah’s excellent economic performance in the previous year.

1. The Domino Effect in
Utah’s Strong Economy
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2. Utah attracts investors and immigrants alike, and the excellent economic
standing of the state is the force behind this. In the first part of 2016, The
Economic Report to the Governor documented Utah’s excellent economic
performance in the previous year.
“Utah led the nation in job growth in 2015,” said Juliette Tennert, the co-
chair of the Utah Economic Council. She added that this is a sign that Utah
offers better economic opportunity than any other state.
Here are some of the highlights of the report.
• Construction – The number of construction permits reached its peak in eight
years.
• Income – Utah’s median household income had seen a 2.6% growth,
compared to the 1% national growth.
• Technology – The state’s information sector grow by 7.7%, proving that
Utah deserves its nickname “Silicone Slopes.”
• Exports – The export industry supports more than 50,000 jobs and the
merchandise for export becomes more diversified; non-gold export grows by
four percent.
• Financial activities – Utah is named “Wall Street of the West” as many jobs
have been added.
• Hospitality – Almost 8,000 jobs were added to the leisure and hospitality
industry; Fodor's Travel named Utah the top travel destination of the year.
It is also predicted that Utah’s economy will continue to grow and will have a
positive labor market performance.

3. Utah’s Residential Market
One out of seven Utahans is an
immigrant, according to
Immigrationpolicy.org, and they
composed a big chunk of Utah’s labor
force. In 2013, immigrants comprised
10.8% of the state’s workforce.
Immigrants helped build Utah’s economy
and in turn, the state became a magnet
attracting more people to settle in the
state. Deseret News reported that
population continues to grow in many
counties and metro areas of Utah.
The robust economy feeds the nation’s
construction sector. Many people are
seeing Utah as a good place to start a
business, build a home, and start a
family. It is not a surprise that residential
building contractors are competitive in
this state.
Utah’s economy continues to show a
steady growth. This creates a domino
effect, improving the performance of the
other sectors including the residential
market.

4. RESOURCES:
http://keystoneconstructionutah.com
http://gardner.utah.edu/newss/utah-economy-expected-to-
continue-to-prosper-in-2016/
http://www.forbes.com/sites/kurtbadenhausen/2014/11/12/the-
best-states-for-business-2014/#14b5a56f4ad5
http://www.immigrationpolicy.org/just-facts/new-americans-utah
http://www.deseretnews.com/article/865650767/Census-
Epicenter-of-Utah-population-growth-shifting-to-Utah-
County.html?pg=all