Also this week, Salt Lake found itself among the nation’s “15 Hottest American Cities of the Future,” according to Business Insider. That comes after The Atlantic Cities (a publication of The Atlantic that examines trends and innovation in urban spaces) named Salt Lake City among the top 10 fastest growing job markets in the United States. The Atlantic study used data from the Bureau of Labor Statistics to determine the top cities for economic and job growth.
“Utah’s dynamic metropolitan economies are built not only on the foundation of astonishing entrepreneurial drive and strong business savvy, but a deep-rooted dedication to family and quality of life,” said Spencer Eccles, executive director of the Governor’s Office of Economic Development. “Thanks to Governor Gary Herbert’s commitment to education and responsible energy development, Utah’s coveted talent pipeline and the low cost of doing business will continue to power the state’s future economic success.”
While Forbes’ metrics emphasize the cost of business and education in determining the overall ranking, the 12 criteria also consider past and projected job growth, total projected economic growth through 2014, and a number of quality of life factors.
Among the reasons for Provo’s top ranking are its nation-leading low rate of violent crime, 3% job growth and a $16 billion economy held up by Brigham Young University.
According to Forbes, a significant driver of Utah’s continual economic success and job growth is the first and third rankings of the University of Utah and Brigham Young University, respectively, for spinout companies based on university research.
Salt Lake City’s top 10 showing in Business Insider’s “10 Best Cities for College Grads” helped determine the capital city’s place among the nation’s 15 hottest cities. The Business Insider list looks at both economic measures and sociocultural factors to determine which American cities are best positioned to thrive in the next 20 years.
The report also considers the upcoming generation to determine a city’s greatness based upon the confluence of “great people and great ideas.”