Utah Continues to Lead the Way in Economic Outlook: ALEC on ABC4 News Utah
This has not been the case in Utah, where leaders have continued to find improvements, and the state has remained at the top of our economic outlook rankings
In coverage of the launch of the 18th edition of Rich States, Poor States: ALEC-Laffer State Economic Competitiveness Index, reporter Yeonseung Kim with anchors Matt Fontes and Alyssa Royster of Utah ABC 4 News cover the formula of successful actions that have kept Utah ranked number one in the country for economic outlook over 18th consecutive years.
Utah continues to position itself as a leader in the nation when it comes to its economic outlook.
For the 18th year straight, Utah ranked at the top of the nation for the economic outlook in the annual Rich States, Poor States report published by the American Legislative Exchange Council Center (ALEC) for State Fiscal Reform.
The study weighed 15 variables including tax rates, expenditures, minimum wage, and tax burdens, among others. Utah beat out other states such as Tennessee, Indiana, North Carolina, and North Dakota, which rounded out the Top 5 in that order.
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Jonathan Williams, the ALEC President and co-author of Rich States, Poor States, said since 2007 when the report began, he has seen states fall behind by standing still. He said those states that don’t continue to make their policy environment more competitive have not held their positions.
“This has not been the case in Utah, where leaders have continued to find improvements, and the state has remained at the top of our economic outlook rankings,” said Williams.
While the forward-looking outlook has consistently ranked top of the nation, the Rich States, Poor States report is not as favorable on Utah’s Economic Performance rank. The performance rank is a “backward-looking measure,” the report explains, based on the state’s performance in GDP growth, non-farm employment growth, and domestic migration.