The Story
By 2050, Utah’s economy is strong and diverse, and we remain competitive with other states and regions. The results of our decisions on a variety of issues keep the state attractive to businesses and employees:
- Educational performance improves. 53% of Utahns have a degree or certificate beyond high school.
- Air quality improves and barely meets health standards.
- Housing costs remain generally affordable.
- Recreational facilities meet the growing demand of residents
- Agricultural production is similar to today but provides more local foods.
- Energy costs remain low.
- Public lands produce more economic benefits.
However, the following weaken our ability to attract and retain businesses and employees:
- Transportation distances are longer for people, goods, and services.
- Household transportation costs are somewhat high.
Results
- Economy is strong.
- Average incomes are moderate.
- Tax revenues are moderate.
- Young Utahns can generally find good jobs.
- Poverty, including intergenerational poverty, decreases, 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.
