Provo, Salt Lake, state score high on business surveys
City's proximity to BYU is credited for Forbes 6th place
The city ranked sixth in Forbes' recent Best Places for Business and Careers survey, which weighed job and income growth, cost of doing business and work-force qualification of the 150 largest metropolitan areas.
Meanwhile, Utah scored well overall and in several breakout categories, and Salt Lake finished high in entrepreneurship and infrastructure, in a new "Gold Guide" ranking of cities and states.
Utah also finished fifth among states for "economic freedom," according to a third study.
Provo's ranking in the Forbes list was due largely to its high concentration of college-degree holders.
"Provo-Orem has some great things to offer, and I think one of the best things from a business standpoint is the academics," said Provo-Orem Chamber of Commerce chief Steve Densley.
"You've probably got somewhere close to 60,000 college-age kids running around here who are becoming highly educated at some excellent schools. I think as a business, looking to locate here, to have a highly educated, young, dynamic work force is a major plus."
"We have a superior work force and many bright, entrepreneurial people in our community," he said. "A real key is Brigham Young University. They are a marvelous part of our community."
Utah Valley Economic Development Agency Director Russ Fotheringham noted that human resources as rich as Provo's are difficult to find.
"Human resources are the resources that are most in demand by the businesses in the United States," Fotheringham said. "If you're looking for a place where you can find the resource that's most scarce of all, then it's right here. You have not only a large number of students but some of the brightest students in the nation going to school here."
All of the survey's top five — Madison, Wis.; Raleigh-Durham, N.C.; Austin, Texas; Washington, D.C.; and Atlanta — had close ties with area universities.
Provo finished above Salt Lake, which came in 65th, despite the contribution from the University of Utah.
Fotheringham pointed out that Utah Valley has more two- and four-year degree graduates than the Salt Lake Valley.
"Salt Lake is recognized as probably the highest concentration of students among the major metropolitan areas in the United States, but Utah Valley is 4 percent higher than even Salt Lake Valley," he said.
Fotheringham said Utah Valley needs to promote awareness of its human resources to bring businesses in, but also work on growing locally.
"For the future, we need to look at developing from within instead of from without," he said. "Let's set up some business accelerators, let's try to gather together some funds for companies who want to prove their concepts and start up businesses that create the large numbers of high-paying jobs."
You can be the first to comment on this story.