SALT LAKE CITY — Utah political leaders celebrated a conservative policy group's ranking the state number one in economic outlook for the 18th year in a row.
"There’s a generation growing up that doesn’t know a time when Utah wasn’t number one, leading the nation," said House Speaker Mike Schultz, R-Hooper, at an event at the Governor's mansion on Tuesday.
The American Legislative Exchange Council ranked Utah number one in the nation for economic outlook, citing the state's business friendly environment, innovation, low taxes, fiscal prudence and other factors.
"You continue to be an example for the rest of the nation of what it means to bring real economic growth and prosperity to your citizens across the board," said ALEC President Jonathan Williams.
Asked about the impact of such rankings on the lives of ordinary Utahns, Governor Spencer Cox insisted it is noticeable.
"All of these rankings matter in real ways. It matters in real wage earnings, we’ve had significant increases in wages. It matters that we lead the nation in jobs and job recovery. We were number one coming out of COVID," the governor said.
Cox promotes education bills, including a big boost in CTE:
When FOX 13 News asked people in West Valley City their feelings about Utah's economy, there were mixed results. Angel Sosa said things were going very well for him.
"Everything is going good to be honest. Economy? Couldn’t complain," he said.
But Rick Estrada said he's seen work slow down lately.
"It’s been pretty rough, honestly," he said. "It’s pretty expensive right now. A lot of materials are going up and prices on different things."
Anna Dickison said she felt Utah's economy was good overall.
"I feel like some things are going well," she told FOX 13 News. "I feel like housing is burying me and my family."
Gov. Cox said he worried the cost of housing threatens Utah's economic prosperity.
"That is something we have to continue to work on," he told reporters. "Energy is another one that could threaten us."
Utah is still bracing for some economic challenges. Gov. Cox recently returned from a trade mission to Canada, and tariffs announced by President Trump have rattled the state. Still, Senate President J. Stuart Adams, R-Layton, said he believed the state is prepared for any economic downturn.
"We have $2 billion in one time expenses we can use, in addition to our savings accounts," he told reporters.
Keeping Utah's economy moving forward is something Speaker Schultz said would be a top priority of the legislature over the next year. Gov. Cox said he has told state agencies to come up with plans, just in case the economy takes a turn.
"I've instructed all of my department heads to come up with recession plans looking at three different levels of cuts that would have to come this year, if there is a recession," he said. "This is what we do. We plan ahead. We prepare ahead."
