Best Cities to Start a Business in Utah
Utah is universally hailed as one of the best states to start a business, and with good reason: low taxes and a young workforce matchless in education level and productivity rate ensure that Utah’s reputation is well-earned. First off, businesses in Utah enjoy a number of tax incentives, including a property tax rate ranging from 1.07% to 1.75% (well below the national average) and a flat 5% corporate tax that ensures that companies aren’t gouged as their revenues increase.
As for its workforce, it consistently ranks within the top five best educated in the nation. Remarkably, a full third of them are bilingual, owing to the state’s large LDS influence, as many members of the church study a second language in order to prepare for missionary trips to foreign nations. Employees’ bilingualism is a great asset for companies and prospective entrepreneurs wishing to do business internationally as well as at home.
The draw of Utah’s natural beauty and opportunity for outdoor activity is not to be forgotten. More than four million people from around the world visit Zion National Park each year to explore its lush valleys and admire its painted canyons. The park, located in the southwestern portion of the state, provides added enticement for enterprising businesspeople to relocate to Utah.
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Only cities with over 50,000 inhabitants are reported in the results. Some data had to be interpolated to the county level and extrapolated to all the cities in the county. We concentrated on the following metrics to obtain our ranking: Cost of living, Best state for business, Unemployment, Kauffman index, and Universities.
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