Utah is a Top State for Business

Business in Utah has grown leaps and bounds over the last few years thanks to its strong labor force, low energy costs and robust employment outlook. These components have propelled the Beehive State to rank No. 1 in Forbes’ 2015 Best States for Business—and it’s the fifth time in six years that the state has been awarded this distinction.

“Receiving the Forbes Best States for Business ranking again in 2015 confirms what we hear from companies every day: no one else does economic development like Utah,” said President and CEO of the Economic Development Corporation of Utah Jeff Edwards in a press release. “The model we have in this state, with industry support, local community participation and leadership from the Governor’s Office—it is uncommon and remarkable.”

The state’s success as a key business hub can be attributed to its focus on the fundamentals of business, including reduced regulations and energy costs, which are 23 percent below the national average. These components have fueled employment in the state, and in December 2015, Utah saw a 3.2 percent year-over-year increase in jobs—a number that surpasses the national average growth of 1.9 percent.

The increase in employment has also made Utah a prime spot to build and develop a brand, and franchises in particular are seeing remarkable growth. The state has 7,624 franchise locations, which have created 84,200 jobs in the process, according to the International Franchise Association. There are a number of eclectic franchises that have headquarters in Utah, including Rumbi Island Grill. One franchise brand that has seen success in Utah is Kitchen Solvers, a company specializing in custom and pre-built cabinetry, custom countertops, solid surfaces and kitchen accessories. Zach Nolte, chief development officer at Kitchen Solvers, said their Kitchen Solvers of Salt Lake franchise has seen tremendous success because Utah presents them with the perfect assets for their business model.

“The average home value in Salt Lake City is around $240,000, which falls into our demographic and with the concentrated population in the city, it is easy to do business with clients,” Nolte said. “The city is also filled with new homes and established buildings, which are perfect for our services. It’s really a great market for franchises to develop in.”

Nolte said he is interested in developing other Kitchen Solvers franchises in Utah and feels it is a great state for all franchises brands to develop in.

Nick Powills, CFE, founded No Limit Agency in 2008 and serves as Chief Brand Strategist for the Chicago-based firm. No Limit is a full-service communications agency that establishes and elevates brands by bridging Public Relations, Social Media, Marketing, Advertising, Digital, and a lot of creativity, to best strategize well-rounded and successful campaigns for 50+ global franchise brands. By presenting visionary ideas and building real relationships, No Limit is able to create effective media branding strategies to help companies grow. Nick currently leads a staff of writers, media strategists, designers, social media experts and digital producers in an office think-tank where brands are humanized for strong, compelling media stories. Prior to starting No Limit at the age of 27, Nick spent four years working at a franchise PR agency where he mastered the art of building rapport with media outlets and creating newsworthy pitches for earned media placements. He holds a Bachelor of Journalism from Drake University in Iowa.

Utah is a Top State for Business

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