Wondering about the latest news surrounding Utah’s economy? Well, we’re pleased to report the Beehive State continues to demonstrate a strong and resilient economy, thanks to several notable achievements and ongoing developments in 2025:
Economic Health and Outlook
For the 18th consecutive year, Utah has been ranked as the state with the best economic outlook by the Rich States, Poor States: ALEC-Laffer State Economic Competitiveness Index (posted April 2025). This is credited to sound fiscal policies, low taxes, and a pro-business environment.
Utah’s real Gross Domestic Product (GDP) growth led the nation in 2024, reaching an impressive 4.5%, when compared to the national average of 2.8% (April 2025). Utah’s nonfarm payroll employment increased by an estimated 2.3% over the past 12 months as of June 2025, adding 39,700 jobs since June 2024. This rate also outpaces the national average.
Job Growth
Utah’s job gains are currently concentrated in sectors such as education and health services, construction, and professional and business services. Some sectors, such as trade, transportation and utilities have seen a slight year-over-year job loss (as of July 2025).
Increasing Utah’s Housing Supply
Utah legislation has been passed to promote housing attainability and increase transparency and efficiency in zoning processes to boost housing supply. New construction reached post-pandemic highs in May 2025, driven in part by significant non-residential projects. Several companies have chosen to expand or relocate to Utah, particularly in life sciences, manufacturing, and distribution, contributing to job growth.
The Kem C. Gardner Policy Institute and the Utah Economic Council are highly recommended economic news outlets and were utilized when researching this article. Both regularly publish comprehensive reports, such as the “Economic Report to the Governor,” that serve as key resources for understanding Utah’s trade and industry landscape.