Estimated read time: 4-5 minutes
Utah is no longer what many would consider a small state. In fact, in the last several years, the Beehive State's demographic and economic shifts put it squarely in the mid-size state category. As of 2020, Utah is the 30th most-populated state, according to Britannica.
With the increased population comes the need to provide a rich environment for all Utahns to succeed. The Salt Lake Chamber, in partnership with other Utah organizations, created Utah Rising: A Free Enterprise Vision for Utah's Economy.
Utah's strength lies in its shared commitment to making the state's economy and quality of life the best it can be. The vision is founded on the idea that Utah's private sector drives the economy and should, therefore, guide the Utah economy. The goal is to become and remain the top-performing economy in the nation.
To achieve this, the Chamber will lead private-sector efforts and collaborate with public-sector partners to secure statewide prosperity.
Utah Rising has six focus areas with associated strategic goals, measurements and signature projects to ensure the state remains at the forefront of economic excellence, The following action items are set to be accomplished ahead of the 2034 Olympics.
Workforce
Utahns are healthy, talented, educated and industrious. According to data from the Utah Department of Health and Human Services, more Utahns graduate high school than the nationwide average. Additionally, nearly 38% of residents graduated with a bachelor's or advanced degree.
The goal is to have the best-trained workforce in the country by 2034 by focusing on the post-secondary education of 25-34-year-olds.
Utah workforce's mental health will also be a priority. One of the signature projects is to invest $1 billion in training mental health professionals and improving student/counselor ratios.
Transportation
Utah is the "Crossroads of the West" and becoming the "Crossroads of the World." Currently, the FrontRunner serves 3.7 million people each year, according to the Utah Transit Authority. Utah Rising's goal is to maintain a reliable statewide transportation system by double tracking and extending the FrontRunner the length of the Wasatch Front.
Business environment
Utah has a diverse private sector, one that comprises nearly $9 of every $10 in Utah's economy. That share is substantial and emphasizes the importance of the Utah Rising plan and its potential for lasting impact in the years ahead.
Additionally, Utah's business environment is entrepreneurial and supported by an efficient and business-friendly government. Two of the ways the Utah Rising committee would like to elevate the business environment are by growing the number of middle-market (those with 100-999 employees) companies in Utah by 25% by 2034 and advancing the University of Utah's Responsible AI initiative.
Housing
Utah is a place where all who call it home should have a home. The committee plans to address the record housing price appreciation through meaningful regulatory/zoning reforms in the 2025 and 2026 legislative sessions.
They also support the state's plan to address homelessness by increasing accessible and affordable permanent housing opportunities for people experiencing homelessness across the state.
Affordability counts at every level. Each time a family moves up, a door is opened to another family in need.
Livability
Utah provides opportunity for individuals, families and communities to thrive. The livability goal aims to increase Utah's livability index (which includes amenities, safety, and convenience) by 2034.
This signature project is creating a 'Capital City Renaissance' in downtown Salt Lake City with a sports and cultural district, state-of-the-art hospital, downtown University campus and global faith headquarters.
Natural resources
Utahns are privileged to live in a rich state chock full of different landscapes and natural beauty. Being a wise steward of the resources in the state is essential for the future.
The goal is to maintain energy affordability and reliability, reduce per capita water consumption, and improve air quality in the years leading up to 2034. The energy strategy includes utility-scale solar, advanced modular nuclear and formation of a critical minerals consortium.
Be a part of the Utah Rising Initiative
As the Chamber and its partners work toward these 2034 goals, the public and business leaders are encouraged to stay up-to-date with the progress made by checking the Utah Rising website.
The Chamber invites every business leader, entrepreneur and community member to be part of Utah Rising because everyone's engagement and ideas are essential in helping to shape Utah's path forward. Together, everyone can tackle challenges and create opportunities that will uplift the great state of Utah.
