BUSINESS + ECONOMY
Which Utah city has been ranked the best performing city in the U.S.?
Apr 27, 2023, 3:00 PM
SALT LAKE CITY — Based on last year’s data, Utah is home to the top economically performing US city, according to the Milken Institute study. The city in question? Provo.
The Milken Institute claims to track the economic performances of nearly 400 U.S. large cities.
To evaluate the cities’ performances, researchers take into account job creation, wage gains and high-tech GDP growth.
According to the Milken Institute, the nation can credit its role in the competitive global economy to cities because cities are where businesses create new jobs and employees can earn higher wages.
“The top-performing metros have cohesive strategies allowing them to weather economic storms and leverage their assets more effectively,” the study wrote.
Further, taking into account who has used their demographic most effectively and put the best policy or strategy for growth in place, the Milken Institute selected the best-performing city.
Another reason Provo was selected, according to the study, is because of its broadband access and housing affordability.
Provo has received this award before. The previous release of the study in 2021 named the city No. 1 as well.
- The US economy grew at a much slower pace in the first quarter
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