I’m proud that Utah has once again been named the No. 1 state in the nation for economic outlook for the 19th year in a row,” said Utah Senate President J. Stuart Adams. Th …
SALT LAKE CITY (ABC4) — Utah has been ranked the number one state in the nation for economic outlook for the 19th year in a row.
On Wednesday morning, the American Legislative Exchange Council released the 19th edition of Rich States, Poor States: ALEC-Laffer State Economic Competitiveness Index, an annual report that assesses all 50 state’s economic outlook and performance. Utah was ranked number one.
“I’m proud that Utah has once again been named the No. 1 state in the nation for economic outlook for the 19th year in a row,” said Utah Senate President J. Stuart Adams. “This recognition reflects years of forward-thinking decisions focused on economic growth and building an environment where the next generation can succeed.”
Adams also said that Utah is the second-best state for teachers and fourth best state for education. Additionally, the state’s median income for households is $55,000, with income tax dropping over the last six years.
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According to the report, Utah has been the top-ranked state for Economic Outlook for 19 years in a row due to its pension reform and property tax reform. New York has ranked 50th since 2014.
‘Rich States, Poor States’ rankings. Courtesy: American Legislative Exchange Council
“Utah has been named the No. 1 state in the nation for economic outlook for the 19th consecutive year,” posted Governor Spencer J. Cox (R-UT) on X. “Unlike rankings that look backward, this one measures the policies most likely to support opportunity in the years ahead. Utah has remained at the top since the index began.”
In order to create the report, authors observe 15 economic policy variables, including taxes, debt, and free market policies. The ranking details states’ individual performances over the past 10 years.
More information on the report can be found online.
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Source: Utah News