For the 16th Time, Utah’s Economic Outlook Tops the Nation: Jonathan Williams and Stuart Adams in the Deseret News
Why is Utah the best? It comes down to preparation.
Jonathan Williams, ALEC Executive Vice President of Policy and Chief Economist, co-authored a guest column in the Deseret News with Utah Senate President Stuart Adams celebrating Utah’s #1 ranking in The 16th edition of Rich States, Poor States: ALEC-Laffer State Economic Competitiveness Index.
When asked what it takes to build a champion, famed UCLA basketball coach John Wooden said, “All we have to do is learn to rise to every occasion, give our best effort, and make those around us better as we do it.” Being named the No. 1 state in the nation for economic outlook, incredibly for the 16th straight year, in the annual Rich States, Poor States: ALEC-Laffer State Economic Competitiveness Index is proof that Wooden’s philosophy works.
Much like sports, fiscal success is more about preparation than anything else. Building on a platform of lower taxes, reasonable regulations and less reliance on the federal government, Utah has established a solid yet flexible economic model that encourages business without sacrificing the state’s responsibility to the people.
Free market policies like a flat personal income tax rate — which will soon drop to 4.65% — along with Utah’s truth in taxation have added much-needed transparency to property taxes and provided economic security while encouraging homeownership. Add up those economic policies, and you get the Beehive State’s surging job market (2.4% statewide unemployment).