Economy of Utah

By | March 4, 2023

Utah has a vibrant and diverse economy, driven by a mix of industries ranging from energy production to advanced technology. The state is known for its strong economic growth and low unemployment rate, with the latest figures showing that the state’s unemployment rate is at an all-time low of 2.3 percent. The state’s economy is expected to continue its positive growth in 2020, with GDP forecasted to grow by 3.3 percent over the course of the year.

The energy sector plays a significant role in Utah’s economy, employing thousands of people and contributing billions of dollars in revenue each year. The state is home to numerous oil refineries and natural gas processing plants, as well as several major coal mines. Additionally, Utah has numerous hydroelectric power plants that generate electricity for much of the state’s population.

In addition to its energy sector, Utah also has a thriving technology industry that employs thousands of highly skilled workers and contributes billions in revenue each year. Some of the most notable tech companies based in Utah include Adobe Systems, eBay, Oracle Corporation, Qualtrics International Inc., and Vivint Solar Inc., among many others. These companies have helped fuel Utah’s economic growth by creating jobs and generating tax revenue for the state government.

Utah also has a strong agricultural sector that produces crops such as hay, wheat, barley, corn, potatoes and alfalfa for domestic consumption as well as export to other countries around the world. Livestock production including dairy cows and sheep are also major contributors to Utah’s agricultural industry. Additionally, fishing is an important component of the state’s economy due to its numerous lakes and rivers stocked with trout and other species popular among anglers from around the world.

Tourism is another major component of Utah’s economy with millions visiting each year from all over the world to experience some of its most iconic sites such as Arches National Park or Zion National Park or ski down some of its world-renowned slopes like Snowbasin or Powder Mountain Resort near Salt Lake City or Deer Valley Resort near Park City respectively Tourism generates significant tax revenue for local businesses while providing employment opportunities for thousands throughout the state every year making it an important source of income for many residents throughout Utah.

Top 3 Counties in Utah

According to, main counties in Utah include:

1. Salt Lake County: Salt Lake County is the most populous county in Utah, with an estimated population of 1,153,340 as of 2020. It is located in the north-central part of the state and includes the state’s capital and largest city, Salt Lake City. It is home to a variety of attractions such as Temple Square, Red Butte Garden, and Hogle Zoo. Additionally, it has a diverse economy that includes technology companies like Adobe Systems Incorporated, Oracle Corporation and eBay Incorporated. Furthermore, it has a strong education system with several universities including University of Utah and Westminster College.

2. Davis County: Located in north-central Utah near the Great Salt Lake, Davis County is home to an estimated population of 339,619 people as of 2020. Its main cities include Layton City and Bountiful City. It’s known for its many outdoor activities such as boating on the Great Salt Lake or visiting Antelope Island State Park for camping or hiking. Additionally, Davis County has several museums including The Hill Aerospace Museum and The Legacy House Museum & Gardens which both provide educational opportunities for visitors.

3. Washington County: Washington County is located in south-western Utah near Zion National Park with an estimated population of 178,556 as of 2020. Its main cities include Saint George and Hurricane City which are popular tourist destinations due to their proximity to Zion National Park and other nearby attractions like Bryce Canyon National Park or Snow Canyon State Park. Additionally, Washington County offers plenty of outdoor recreation opportunities like fishing at Quail Creek State Park or hiking trails at Red Cliffs Desert Reserve just outside Saint George city limits.

Economy of Utah