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Utah ranking slips to 5th on CNBC ‘best states for business’ list

By Joey Ferguson

SALT LAKE CITY — Utah dropped three spots to 5th place, tying with Virginia, on CNBC’s “Best States for Business” 2013 ranking.

Utah’s worst ranking was in education, where the state ranked 39th in the country, according to the report. The state ranked 2nd on the 2012 report. CNBC is scheduled to report its best state for business later today.

Despite the drop, Utah is still an “extremely strong economy and clearly has its fiscal house in order,” said CNBC in an article.

Utah is expected to have a $200 billion surplus by the end of fiscal year 2013.

The Beehive State’s job growth and unemployment rates are attracting global attention, said Gov. Gary Herbert in a guest article on CNBC.com.

“Everyone knows about California’s famed Silicon Valley, but people are now becoming familiar with Utah’s ‘Silicon Slopes’ — the cluster of information technology and software development firms along the Wasatch Front that is leading the world in innovative memory process technology, thanks to Intel/Micron and IM Flash, and data analysis, thanks to Qualtrics and Adobe,” Herbert said in the article.

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