Utah continues to sees job growth in key industries

Feb 16, 2024, 11:30 AM

Utah jobs...

Connor Perkett and Hunter Harmer of EspriGas discuss work while in their office at Work Hive in Salt Lake City on Tuesday, Aug. 1, 2023. (Scott G. Winterton)

(Scott G. Winterton)

SALT LAKE CITY —  While Utah’s economy is strong in many areas, one business expert says there are three industries he expects to grow faster than all the others.

The Salt Lake Chamber President and CEO Derek Miller said Utah’s economy continues to lead the nation in several key industries.

Industries growing in Utah

Miller said several industries are growing in Utah, there are three to watch: tourism, information technology and medical device manufacturing.

“This is a growing field because we have an aging population in this country. And so, you know health care and medical devices… and combine it with just the great health care that we have overall,” Miller said.

According to Miller, another thing helping medical manufacturing grow is that our colleges and universities are producing graduates who are ready to take the industry even further. 

The importance of AI

Additionally, Miller said Utah is well placed to take advantage of the rapidly expanding artificial intelligence industry. Miller recently sat down with Taylor Randall, the president of the University of Utah.

“We talked about creating a policy center in Utah attached to the University of Utah, but part of the business Community as well.”

According to Miller, the center would become a driver of policy around artificial intelligence.

“And so, this is you know, all groundbreaking stuff and it just bodes very well for our economy, especially in the IT industry,” Miller explained. 

 Even though there have been layoffs in information technology businesses across the country, the industry grew here in Utah last year.

“The information technology [sector] is growing at 6%. I think that the growth opportunity is even higher than that. This has a lot to do with artificial intelligence and the positioning of our universities to be able to produce students who are experts in this brand new field,” said Miller. 

Utah’s resilience 

According to Miller, Utah has a history of industry growth even when times are tough. 

“This is a very similar dynamic that we saw during the Great Recession and in ’08 and ’09. Even though Utah had a net job loss during the Great Recession, it was much less than other states. Why? Because businesses were actually moving jobs to Utah,” said Miller. 

Miller said just like households, businesses look to see where they can save money. 

“They’re focused on the bottom line like never before. A big focus on the bottom line is where is there a more cost-efficient place for me to put jobs or run my operations?” asked Miller. “Utah became that place during the Great Recession and we saw that happen during the pandemic as well. And that’s the way that we’re able to grow jobs, even though other places and specific industries may be losing them.”



We want to hear from you.

Have a story idea or tip? Send it to the KSL NewsRadio team here.

Business + Economy

ftc building shown, a new rule would bar noncompete agreements for most...


New federal rule would bar ‘noncompete’ agreements for most employees

The Federal Trade Commission voted Tuesday 3-2 to ban measures known as noncompete agreements.

2 hours ago

A photovoltaic panel shines in the sun at the Appaloosa Solar 1 project near Cedar City. Rocky Moun...

Derrick Jones

Rocky Mountain Power withdraws from renewable energy partnership

Rocky Mountain Power has pulled out of a partnership with many Utah communities whose goal is to use 100% renewable energy by 2030.

2 hours ago

The Delta Center ice prior to Ryan Smith, co-founder and chairman of Smith Entertainment Group, Ash...

Heather Peterson

NHL expected to bring new customers to downtown Salt Lake City businesses

With a new National Hockey League team coming to town, the downtown economy is expecting a boost in profits. 

4 hours ago

ftc building shown, a new rule would bar noncompete agreements for most...


New federal rule would bar ‘noncompete’ agreements for most employees

FTC officials asserted that noncompete agreements harm workers by reducing their ability to switch jobs for higher pay.

16 hours ago

FILE: Mountain America Credit Union 660 South. 200 East, in Salt Lake City. A new report from USA T...

Don Brinkerhoff

Utah-based credit union named a top five large business employer

Mountain America Credit Union employees helped land the company among the top five large businesses in America.

17 hours ago

A wood sign with the Google Cloud logo on a sunny day. A person rides their bike behind it....

Associated Press

Google has fired more workers who protested its deal with Israel

An activist group says Google fired at more workers following protests of technology the company is supplying the Israeli government amid the Gaza war.

1 day ago

Sponsored Articles

a doctor putting her hand on the chest of her patient...

Intermountain Health

Intermountain nurse-midwives launch new gynecology access clinic

An access clinic launched by Intermountain nurse-midwives provides women with comprehensive gynecology care.

Young couple hugging while a realtor in a suit hands them keys in a new home...

Utah Association of Realtors

Buying a home this spring? Avoid these 5 costly pitfalls

By avoiding these pitfalls when buying a home this spring, you can ensure your investment will be long-lasting and secure.

a person dressed up as a nordic viking in a dragon boat resembling the bear lake monster...

Bear Lake Convention and Visitors Bureau

The Legend of the Bear Lake Monster

The Bear Lake monster has captivated people in the region for centuries, with tales that range from the believable to the bizarre.


Live Nation Concerts

All the artists coming to Utah First Credit Union Amphitheatre (formerly USANA Amp) this summer

Summer concerts are more than just entertainment; they’re a celebration of life, love, and connection.

Mother and cute toddler child in a little fancy wooden cottage, reading a book, drinking tea and en...

Visit Bear Lake

How to find the best winter lodging in Bear Lake, Utah

Winter lodging in Bear Lake can be more limited than in the summer, but with some careful planning you can easily book your next winter trip.

Happy family in winter clothing at the ski resort, winter time, watching at mountains in front of t...

Visit Bear Lake

Ski more for less: Affordable ski resorts near Bear Lake, Utah

Plan your perfect ski getaway in Bear Lake this winter, with pristine slopes, affordable tickets, and breathtaking scenery.

Utah continues to sees job growth in key industries