3 Utah Cities Leading the Country in Economic Growth

In recent years, Utah has emerged as a beacon of economic prosperity in the United States. Fueled by a diverse range of industries and a business-friendly environment, the Beehive State has consistently outpaced national averages in terms of economic growth. While the entire state has generally seen impressive economic growth, there are three cities in particular that stand out for their remarkable contributions to Utah's economic success story.

The three cities in Utah that are in the top 5 for economic growth are Salt Lake City, Provo/Orem and Saint George. That is based on “The Best Performing Cities 2024” report by the Milken Institute. Salt Lake City and Provo/Orem are number 4 and 5 respectively for large cities and Saint George is number 4 for small cities. Utah’s capital city passed Provo/Orem for the first time since 2012, propelled mostly by significant growth in high tech GDP and wages.

Utah’s strong economy is one of the reasons home prices have remained high despite significant increases in interest rates.

Source: Deseret News, Feb 14, 2024