The economy of Utah is a diversified economy covering industries such as
tourism
Tourism is travel for pleasure or business; also the theory and practice of touring (disambiguation), touring, the business of attracting, accommodating, and entertaining tourists, and the business of operating tour (disambiguation), tours. Th ...
,
mining
Mining is the extraction of valuable minerals or other geological materials from the Earth, usually from an ore body, lode, vein, seam, reef, or placer deposit. The exploitation of these deposits for raw material is based on the economic via ...
,
agriculture
Agriculture or farming is the practice of cultivating plants and livestock. Agriculture was the key development in the rise of sedentary human civilization, whereby farming of domesticated species created food surpluses that enabled people to ...
, manufacturing,
information technology
Information technology (IT) is the use of computers to create, process, store, retrieve, and exchange all kinds of data . and information. IT forms part of information and communications technology (ICT). An information technology system (I ...
,
finance
Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of fina ...
, and
petroleum production
The petroleum industry, also known as the oil industry or the oil patch, includes the global processes of exploration, extraction, refining, transportation (often by oil tankers and pipelines), and marketing of petroleum products. The largest ...
. The majority of
Utah
Utah ( , ) is a state in the Mountain West subregion of the Western United States. Utah is a landlocked U.S. state bordered to its east by Colorado, to its northeast by Wyoming, to its north by Idaho, to its south by Arizona, and to it ...
's
gross state product
Gross regional domestic product (GRDP), gross domestic product of region (GDPR), or gross state product (GSP) is a statistic that measures the size of a region's economy. It is the aggregate of gross value added (GVA) of all resident producer unit ...
is produced along the
Wasatch Front
The Wasatch Front is a metropolitan region in the north-central part of the U.S. state of Utah. It consists of a chain of contiguous cities and towns stretched along the Wasatch Range from approximately Provo in the south to Logan in the north ...
, containing the state capital
Salt Lake City
Salt Lake City (often shortened to Salt Lake and abbreviated as SLC) is the Capital (political), capital and List of cities and towns in Utah, most populous city of Utah, United States. It is the county seat, seat of Salt Lake County, Utah, Sal ...
.
According to the
Bureau of Economic Analysis
The Bureau of Economic Analysis (BEA) of the United States Department of Commerce is a U.S. government agency that provides official economy of the United States, macroeconomic and industry statistics, most notably reports about the gross domestic ...
the gross stated product of Utah in 2021 was 220 billion. The
per capita personal income was $52,204 in 2020. Major industries of Utah include: coal mining, cattle ranching, salt production, and government services.
According to the 2007 State New Economy Index, Utah is ranked the top state in the nation for Economic Dynamism, determined by,
"The degree to which state economies are knowledge-based, globalized, entrepreneurial, information technology-driven, and innovation-based."
In eastern Utah, petroleum production is a major industry. Near Salt Lake City, petroleum refining is done by a number of oil companies. In central Utah, coal production accounts for much of the mining activity.
Utah collects personal
income tax
An income tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them (commonly called taxable income). Income tax generally is computed as the product of a tax rate times the taxable income. Tax ...
at a single rate of 5%, but provides tax credits to low and middle income taxpayers to provide a progressive tax system. The state
sales tax
A sales tax is a tax paid to a governing body for the sales of certain goods and services. Usually laws allow the seller to collect funds for the tax from the consumer at the point of purchase. When a tax on goods or services is paid to a govern ...
has a base rate of 4.65 percent, with cities and counties levying additional local sales taxes that vary among the municipalities.
Property tax
A property tax or millage rate is an ad valorem tax on the value of a property.In the OECD classification scheme, tax on property includes "taxes on immovable property or net wealth, taxes on the change of ownership of property through inheri ...
es are assessed and collected locally. Utah does not charge
intangible property taxes and does not impose an
inheritance tax
An inheritance tax is a tax paid by a person who inherits money or property of a person who has died, whereas an estate tax is a levy on the estate (money and property) of a person who has died.
International tax law distinguishes between an es ...
. Over time and influenced by
climate change
In common usage, climate change describes global warming—the ongoing increase in global average temperature—and its effects on Earth's climate system. Climate change in a broader sense also includes previous long-term changes to E ...
,
drought
A drought is defined as drier than normal conditions.Douville, H., K. Raghavan, J. Renwick, R.P. Allan, P.A. Arias, M. Barlow, R. Cerezo-Mota, A. Cherchi, T.Y. Gan, J. Gergis, D. Jiang, A. Khan, W. Pokam Mba, D. Rosenfeld, J. Tierney, an ...
s in Utah have been increasing in frequency and severity, putting a further strain on Utah's
water security
Water security is the focused goal of water policy and water management. A society with a high level of water security makes the most of water's benefits for humans and ecosystems and limits the risk of destructive impacts associated with water. T ...
and impacting the state’s economy.
Farming
Farming
Agriculture or farming is the practice of cultivating plants and livestock. Agriculture was the key development in the rise of sedentary human civilization, whereby farming of domesticated species created food surpluses that enabled people to ...
plays an extremely important role in rural Utah. Crops like
corn
Maize ( ; ''Zea mays'' subsp. ''mays'', from es, maíz after tnq, mahiz), also known as corn (North American and Australian English), is a cereal grain first domesticated by indigenous peoples in southern Mexico about 10,000 years ago. Th ...
and
barley
Barley (''Hordeum vulgare''), a member of the grass family, is a major cereal grain grown in temperate climates globally. It was one of the first cultivated grains, particularly in Eurasia as early as 10,000 years ago. Globally 70% of barley pr ...
can be produced despite the dry land. Cultivated land, including isolated farms in
river valley
A valley is an elongated low area often running between hills or mountains, which will typically contain a river or stream running from one end to the other. Most valleys are formed by erosion of the land surface by rivers or streams over ...
s and considerable
dry farming
Dryland farming and dry farming encompass specific agricultural techniques for the non-irrigated cultivation of crops. Dryland farming is associated with drylands, areas characterized by a cool wet season (which charges the soil with virtually ...
acreage, is limited to a small percentage of the state's total area. The bulk of income from
agriculture
Agriculture or farming is the practice of cultivating plants and livestock. Agriculture was the key development in the rise of sedentary human civilization, whereby farming of domesticated species created food surpluses that enabled people to ...
comes from
livestock
Livestock are the domesticated animals raised in an agricultural setting to provide labor and produce diversified products for consumption such as meat, eggs, milk, fur, leather, and wool. The term is sometimes used to refer solely to animals ...
and livestock products, including
sheep
Sheep or domestic sheep (''Ovis aries'') are domesticated, ruminant mammals typically kept as livestock. Although the term ''sheep'' can apply to other species in the genus ''Ovis'', in everyday usage it almost always refers to domesticated s ...
,
cattle
Cattle (''Bos taurus'') are large, domesticated, cloven-hooved, herbivores. They are a prominent modern member of the subfamily Bovinae and the most widespread species of the genus ''Bos''. Adult females are referred to as cows and adult mal ...
,
dairying
A dairy is a business enterprise established for the harvesting or processing (or both) of animal milk – mostly from cows or buffaloes, but also from goats, sheep, horses, or camels – for human consumption. A dairy is typically located on a ...
, and an expanding
poultry
Poultry () are domesticated birds kept by humans for their eggs, their meat or their feathers. These birds are most typically members of the superorder Galloanserae (fowl), especially the order Galliformes (which includes chickens, quails, a ...
industry. Abundant sunshine provides some compensation for inadequate
rainfall
Rain is water droplets that have condensed from atmospheric water vapor and then fall under gravity. Rain is a major component of the water cycle and is responsible for depositing most of the fresh water on the Earth. It provides water f ...
, and the
climate
Climate is the long-term weather pattern in an area, typically averaged over 30 years. More rigorously, it is the mean and variability of meteorological variables over a time spanning from months to millions of years. Some of the meteorologic ...
is generally moderate, allowing for substantial fruit production.
Tourism
Tourism is a major industry in Utah, as it is well known for its year-round outdoor recreational activities.. With five
national parks
A national park is a natural park in use for conservation purposes, created and protected by national governments. Often it is a reserve of natural, semi-natural, or developed land that a sovereign state declares or owns. Although individual ...
(
Arches
An arch is a vertical curved structure that spans an elevated space and may or may not support the weight above it, or in case of a horizontal arch like an arch dam, the hydrostatic pressure against it.
Arches may be synonymous with vault ...
,
Bryce Canyon
Bryce Canyon National Park () is an American national park located in southwestern Utah. The major feature of the park is Bryce Canyon, which despite its name, is not a canyon, but a collection of giant natural amphitheaters along the eastern ...
,
Canyonlands
Canyonlands National Park is an American national park located in southeastern Utah near the town of Moab. The park preserves a colorful landscape eroded into numerous canyons, mesas, and buttes by the Colorado River, the Green River, and their r ...
,
Capitol Reef, and
Zion
Zion ( he, צִיּוֹן ''Ṣīyyōn'', LXX , also variously transliterated ''Sion'', ''Tzion'', ''Tsion'', ''Tsiyyon'') is a placename in the Hebrew Bible used as a synonym for Jerusalem as well as for the Land of Israel as a whole (see Names ...
), Utah has the third most national parks of any state after
Alaska
Alaska ( ; russian: Аляска, Alyaska; ale, Alax̂sxax̂; ; ems, Alas'kaaq; Yup'ik: ''Alaskaq''; tli, Anáaski) is a state located in the Western United States on the northwest extremity of North America. A semi-exclave of the U.S., ...
and
California
California is a U.S. state, state in the Western United States, located along the West Coast of the United States, Pacific Coast. With nearly 39.2million residents across a total area of approximately , it is the List of states and territori ...
. In addition, Utah features seven national monuments, two
national recreation area
A national recreation area (NRA) is a protected area in the United States established by an Act of Congress to preserve enhanced recreational opportunities in places with significant natural and scenic resources. There are 40 NRAs, which emphasiz ...
s, six
national forests
A state forest or national forest is a forest that is administered or protected by some agency of a sovereign state, sovereign or federated state, or territory (country subdivision), territory.
Background
The precise application of the terms va ...
, and numerous state parks and monuments.
Utah is well known for its winter activities and has seen an increase in tourism since the
2002 Winter Olympics
The 2002 Winter Olympics, officially the XIX Olympic Winter Games and commonly known as Salt Lake 2002 ( arp, Niico'ooowu' 2002; Gosiute Shoshoni: ''Tit'-so-pi 2002''; nv, Sooléí 2002; Shoshoni: ''Soónkahni 2002''), was an internation ...
. Beginning in 1939, with the establishment of
Alta Ski Area
Alta is a ski area in the western United States, located in the town of Alta in the Wasatch Mountains of Utah, in Salt Lake County. With a skiable area of , Alta's base elevation is and rises to for a vertical gain of . One of the oldest ski ...
,
Utah's skiing has become world-renowned.
Park City
Park City may refer to: a city in Utah.
Places
* National Park City, London, England, UK; see parks and open spaces in London
in the United States
* Park City, Illinois
* Park City, Kansas
* Park City, Kentucky
* Park City, Montana
* Park City, ...
is home to the
United States Ski Team
The U.S. Ski Team, operating under the auspices of U.S. Ski & Snowboard, develops and supports men's and women's athletes in the sports of alpine skiing, freestyle skiing, cross-country, ski jumping, and Nordic combined. Since 1974 the team and a ...
. Utah's ski resorts are primarily located in northern Utah near Salt Lake City, Park City,
Ogden, and
Provo. In 2008, for a second year in a row,
Deer Valley
Deer Valley is an alpine ski resort in the Wasatch Range, located east of Salt Lake City, in Park City, Utah, United States. The resort, known for its upscale amenities, is consistently ranked among the top ski resorts in North America.
Deer V ...
, in Park City, was ranked the top ski resort in
North America
North America is a continent in the Northern Hemisphere and almost entirely within the Western Hemisphere. It is bordered to the north by the Arctic Ocean, to the east by the Atlantic Ocean, to the southeast by South America and the Car ...
by more than 20,000 subscribers of Ski Magazine. In addition to having prime snow conditions and world-class amenities, Northern Utah's ski resorts are well liked among tourists for their convenience and proximity to a large city and
International Airport
An international airport is an airport with customs and border control facilities enabling passengers to travel between countries around the world. International airports are usually larger than domestic airports and they must feature longer ...
, as well as the close proximity to other ski resorts, allowing skiers the ability to ski at multiple locations in one day.
The
2002 Winter Olympics
The 2002 Winter Olympics, officially the XIX Olympic Winter Games and commonly known as Salt Lake 2002 ( arp, Niico'ooowu' 2002; Gosiute Shoshoni: ''Tit'-so-pi 2002''; nv, Sooléí 2002; Shoshoni: ''Soónkahni 2002''), was an internation ...
were celebrated in Utah and offered a great boon to the economy of the state. Several facilities were built to accommodate the influx of tourism that accompanied and lingered after the Olympics. Former Olympic venues including
Utah Olympic Park
The Utah Olympic Park is a winter sports park built for the 2002 Winter Olympics, and is located in Summit County ( east of Salt Lake City) northwest of Park City, Utah, United States. During the 2002 games the park hosted the bobsleigh, skelet ...
and
Utah Olympic Oval
The Utah Olympic Oval is an indoor speed skating oval located southwest of Salt Lake City, in Kearns, Utah. The Oval was built for the 2002 Winter Olympics and it hosted the long track speed skating events for the 2002 games. Inside the facilit ...
are still in operation for training and competition and allows the public to participate in numerous activities including
ski jumping
Ski jumping is a winter sport in which competitors aim to achieve the farthest jump after sliding down on their skis from a specially designed curved ramp. Along with jump length, competitor's aerial style and other factors also affect the final ...
,
bobsleigh
Bobsleigh or bobsled is a team winter sport that involves making timed runs down narrow, twisting, banked, iced tracks in a gravity-powered sleigh. International bobsleigh competitions are governed by the International Bobsleigh and Skeleton Feder ...
, and
speed skating
Speed skating is a competitive form of ice skating in which the competitors racing, race each other in travelling a certain distance on Ice skate, skates. Types of speed skating are long track speed skating, short track speed skating, and marath ...
.
Utah features many cultural attractions such as
Temple Square
Temple Square is a complex, owned by the Church of Jesus Christ of Latter-day Saints (LDS Church), in the center of Salt Lake City, Utah. The usage of the name has gradually changed to include several other church facilities that are immediately ...
in Salt Lake, the
Sundance Film Festival
The Sundance Film Festival (formerly Utah/US Film Festival, then US Film and Video Festival) is an annual film festival organized by the Sundance Institute. It is the largest independent film festival in the United States, with more than 46,66 ...
in Park City, and the
Utah Shakespearean Festival
The Utah Shakespeare Festival is a theatrical festival that performs works by Shakespeare as their cornerstone. The Festival is held during the summer and fall on the campus of Southern Utah University in Cedar City, Utah, United States.
Awar ...
in Cedar City.
Other attractions include
Monument Valley
Monument Valley ( nv, Tsé Biiʼ Ndzisgaii, , meaning ''valley of the rocks'') is a region of the Colorado Plateau characterized by a cluster of sandstone buttes, the largest reaching above the valley floor. It is located on the Utah-Arizona s ...
, the
Great Salt Lake
The Great Salt Lake is the largest saltwater lake in the Western Hemisphere and the eighth-largest terminal lake in the world. It lies in the northern part of the U.S. state of Utah and has a substantial impact upon the local climate, particula ...
, the
Bonneville Salt Flats
The Bonneville Salt Flats are a densely packed salt pan in Tooele County in northwestern Utah. A remnant of the Pleistocene Lake Bonneville, it is the largest of many salt flats west of the Great Salt Lake. It is public land managed by the Bur ...
, and
Lake Powell
Lake Powell is an artificial reservoir on the Colorado River in Utah and Arizona, United States. It is a major vacation destination visited by approximately two million people every year. It is the second largest artificial reservoir by maximum ...
.
Mining
![Bingham Canyon April 2005](https://upload.wikimedia.org/wikipedia/commons/5/54/Bingham_Canyon_April_2005.jpg)
Beginning in the late 19th century with the state's mining boom (including the
Bingham Canyon Mine
The Bingham Canyon Mine, more commonly known as Kennecott Copper Mine among locals, is an open-pit mining operation extracting a large porphyry copper deposit southwest of Salt Lake City, Utah, in the Oquirrh Mountains. The mine is the largest ...
, among the world's largest open pit mines), companies attracted large numbers of immigrants with job opportunities. Since the days of the
Utah Territory
The Territory of Utah was an organized incorporated territory of the United States that existed from September 9, 1850, until January 4, 1896, when the final extent of the territory was admitted to the Union as the State of Utah, the 45th state. ...
mining has played a major role in Utah's economy. Historical mining towns include
Mercur in Tooele County,
Silver Reef in Washington County,
Eureka
Eureka (often abbreviated as E!, or Σ!) is an intergovernmental organisation for research and development funding and coordination. Eureka is an open platform for international cooperation in innovation. Organisations and companies applying th ...
in Juab County,
Park City
Park City may refer to: a city in Utah.
Places
* National Park City, London, England, UK; see parks and open spaces in London
in the United States
* Park City, Illinois
* Park City, Kansas
* Park City, Kentucky
* Park City, Montana
* Park City, ...
in Summit County and numerous coal mining camps throughout Carbon County such as Castle Gate, Spring Canyon, and Hiawatha. These settlements were characteristic of the boom and bust cycle that dominated mining towns of the American West. During the early part of the
Cold War
The Cold War is a term commonly used to refer to a period of geopolitical tension between the United States and the Soviet Union and their respective allies, the Western Bloc and the Eastern Bloc. The term '' cold war'' is used because the ...
era, uranium was mined in eastern Utah. Today mining activity still plays a major role in the state's economy. Minerals mined in Utah include copper, gold, silver, molybdenum, zinc, lead, and beryllium. Fossil fuels including coal, petroleum, and natural gas continue to play a major role in Utah's economy, especially in the eastern part of the state in counties such as Carbon, Emery, Grand, and Uintah.
[Utah Department of Community and Culture, Mining Heritage Alliance]
Highlights
as found at Utah.gov
References
{{United States topic
, title =
Economy of the United States
The United States is a highly developed mixed-market economy and has the world's largest nominal GDP and net wealth. It has the second-largest by purchasing power parity (PPP) behind China. It has the world's seventh-highest per capita GD ...
, prefix = Economy of
, exclude-wdc = y
, exclude-isl = y