The Story
Though Utah’s economy is strong and diverse now, by 2050 our economy is no longer competitive with other states and regions. The results of our decisions on a variety of issues weaken our ability to attract and retain businesses and employees:
- Educational performance falls behind other states and countries. 43% of Utahns have a degree or certificate beyond high school.
- Air quality declines as we grow and does not meet health standards.
- Transportation distances are longer for people, goods, and services.
- Housing is less affordable, and household transportation costs are higher.
- Recreational facilities are crowded, adversely affecting both residents and tourists.
- Agriculture declines as farmland and water are sold off.
However, the following increase our ability to attract and retain businesses and employees:
- Energy costs remain low.
- Public lands produce more economic benefits.
Results
- Economy is weak.
- Average incomes are low.
- Tax revenues are low and may not meet increased demand for services or other state needs.
- Young Utahns cannot find good jobs and must leave.
- Poverty, including intergenerational poverty, increases, as does demand for public assistance.
Background
Our quality of life depends on our ability to find good jobs. A strong economy provides good financial opportunities for us and our families and gives our children and grandchildren the option to live nearby. Utah’s economy is among the strongest in the nation, with a diverse range of jobs. We have consistently been ranked among the best states to grow a business. Unlike most places, we have higher wages and more jobs, not just for high-income earners, but also for low- and middle-income workers.
The choices we make affect the overall health of our state’s economy. A highly educated workforce attracts employers and facilitates innovation and economic growth. Poor air quality, however, may limit the state’s ability to attract and retain businesses and a quality workforce. In addition, congestion on our roads, freeways, and rail lines and in our airport will affect how easily people can travel in Utah, as well as how easily goods can be transported. Utah’s reputation for having many opportunities for outdoor recreation acts as a draw to many businesses and employees. These and other factors determine our ability to grow economically and provide the jobs and wages that ensure a good quality of life.
