According to Bryan Hawker, Utah is the best state to do business. The Beehive State has top-notch infrastructure, low taxes, a government that encourages job growth and high quality of life.
Low taxes
When it comes to economic competitiveness, taxes are very important says Bryan Hawker. Businesses often look for low tax burdens when deciding where to set up shop. Utah is currently ranked the 9th best tax climate for doing business in the country according to a new study by the Tax Foundation.
Even thought Utah levies all of the major tax types, Utah earns its place in the top 10 due to its lower property taxes and strong unemployment insurance tax system. Also, according to Forbes’ recent ranking of Utah as the “Best State for Business”, the cost of doing business in Utah is 5.3 percent below the national average.
Top-notch infrastructure
A state’s plans for the future determine it’s economy growth and prosperity. This is especially true when it comes to a state’s infrastructure.
A safe and efficient transportation system, clean water supply, modern broadband and energy infrastructure are all vital to the quality of life in Utah. For these reasons, in recent years Utah has funded two of the biggest locally funded transportation projects in U.S. history: the I-15 CORE project in Utah County and the UTA FrontLines commuter rail line which stretches 89 miles along the Wasatch Front.
Utah is one of the few states where the state government approved a gas tax increase in order to rebuild and maintain its transportation system. Roads and rail aren’t the only transportation plans on in the works says Bryan Hawker. Salt Lake City International Airport is currently undergoing a multi-billion dollar renovation project. Utah understands solving tomorrow’s problems means investing today.
A well-managed government
Utah is a national leader in long-term fiscal management. In 2008, the Pew Center on States Government Performance Project gave Utah an overall “A minus” for how the state government manages infrastructure, people, information and money.
According to this report, “Utah manages itself with savvy business acumen…Financial decisions are made wisely, with an eye toward return on investment and long-term performance in all facets of state government.”
Effective regulations
A streamlined and transparent regulatory system gives businesses the confidence they need to hire, invest and innovate. Governor Gary Herbert and the Utah Legislature understand this and that’s why during the last legislative session they passed regulatory reforms to ensure Utah’s regulatory system produces rules and regulations that enhance, not hamper, jobs and economic growth.
These reforms seek to improve the process of analyzing the impacts of regulations by requiring a regulatory note on every bill that outlines both the cost and benefits of the proposed legislation.
Quality of Life
From breathtaking red rocks to the Greatest Snow on Earth®, Utah has something for everyone. According to Bryan Hawker, the Beehive State is home to more than a dozen ski resorts that provide the world’s finest skiing and snowboarding. In the summer, Utah’s outdoors offer numerous recreation activities including camping, hiking, mountain biking, ATV riding, rock climbing, fishing and hunting in some of the most spectacular scenery on earth.
Utah is also home to the greatest concentration of national parks in the U.S. —Arches, Bryce Canyon, Canyonlands, Capitol Reef, and Zion. It’s no wonder why U.S. News and World report recently ranked Utah’s capital city as the 10th best place to live in the nation.
[ Source: KSL.com ]
