Utah gets another top economic outlook ranking from 'Rich States'

Utah has kept alive its streak of having the nation’s top economic outlook in an annual competitiveness study.

The ALEC (American Legislative Exchange Council)-Laffer State Economic Competitive Index, also known as the “Rich States, Poor States” report, gave Utah the highest economic outlook ranking among states. It’s a position Utah has held every year since at least 2008.

The outlook is based on the state’s equal-weighted average in 15 state policy variables, each of which is influenced directly by state lawmakers through the legislative process, the report says. “Generally speaking, states that spend less — especially on income transfer programs, and states that tax less, particularly on productive activities such as working or investing  — experience higher growth rates than states that tax and spend more.

Utah was ranked No. 4 among states for economic performance, which is based on the state’s performance (equal-weighted average) in three performance variables that are highly influenced by state policy. Utah was third-ranked in state gross domestic product and in non-farm payroll employment, and No. 14 in absolute domestic migration. The rankings are based on figures from 2005-15, except for absolute domestic migration, which is 2006-2015.

Utah trailed only Texas, North Dakota and Washington for economic performance.