Demographics and Economics

Utah is one of the fastest growing states in the country and ranks 35th in the nation in population growth. The state's rapid growth is attributed to both the area's high birth rate and to in-migration. Utah's economy should continue to do well into 2000 . Utah has a low cost of doing business (93.3% of the national average); a pro-business regulatory environment; low business taxes (the 5th lowest worker's compensation costs in the nation); and, a solid utility, communications, education and transportation infrastructure. Utah also has numerous recreational opportunities; a youthful and educated work force; good universities; healthy lifestyles; and, a strong work ethic that should continue to favorably influence business location and expansion decisions. Utah's median household income data was recently released by the U. S. Department of Commerce and shows that Utah continues to have household incomes that are significantly above the national average. Median household income in Utah ranked 10th highest in the nation at $42,073 for the 3-year period 1996 to 1998.