Utah Business For Sale - The Business Broker Journal

Per Capita Real GDP: $32,357 Rank: 39/50 (2006)

Population: 2,233,170 Rank: 34/50 (2000)

Per Capita Personal Income: $29,108 Rank: 47/50 (2006)

Unemployment Rate: 3.00% Rank: 5/50 (2008)

Business Tax Climate Index: Rank: 17/50 (2008)

Corporate Tax Rate: 5.00%

Individual Tax Rate: 2.3% - 6.98%

Sales Tax Rate: 4.75%

Business Tax Climate Index:

Individual Income Tax Index Rank: 30

Sales Tax Index Rank: 27

Unemployment Insurance Tax Index Rank: 28

Property Tax Index Rank: 3

Business Tax Climate Index: 17

Corporate Tax Index Rank: 5

Utah The State

Utah’s economy is extremely diverse in comparison to the other mountain states. Manufacturing, financial enterprises, government, and the service industry all play a fairly equal role in Utah’s income. Agriculture does not play as significant of a role but it should be noted that nearly 80% of farm income is earned through the sale of livestock and livestock products. The mining industry is also important to the state economy, particularly in the extraction of copper. Utah is the second largest producer of copper in the United States.

State Information

Abbreviation: UT

Capital: Salt Lake City

Nick Name Beehive State

State Web Site: http://www.utah.gov

Motto: Industry

Top 5 Export Partner Countries

United Kingdom, Canada, Switzerland, Japan, Belgium

Top 5 Export Merchandise

Computers and Electronic Products Sales

Primary Metals Sales

Primary Metals Manufacturing

Transportation Equipment Manufacturing

Computers and Electronic Products Manufacturing

Major Cities

Provo, Salt Lake City, West Valley

Main Airports:

SLC Salt Lake City International Salt Lake City

ENV Wendover Wendover

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Utah Secretary of State:

Secretary of State (SOS): Information about elections, registered businesses, trademarks, and lobbyists.

Utah Small Business Administration:

Small Business Administration

Offers business development counseling and training programs and information on SBA loan programs.

Utah SCORE Offices

Salt Lake City - Salt Lake SCORE

Bureau of Economic and Business Research (BEBR)

The BEBR is part of the David Eccles School of Business, at the University of Utah. It primarily conducts research in the state economy, while also providing advice to both the public and private sectors on various economic issues. The bureau website hosts a large database of local business information, compiled research, as well as a list of the center’s publications.

Economic Development Corporation of Utah (EDC Utah)

EDC Utah is a collaborative effort between the public and private sectors to promote competition, and growth of the Utah economy. They have an extensive library of economic data, as well as a database of viable locations within the state.

Salt Lake Chamber

The chamber is the largest business association and volunteer organization in Utah, and is dedicated to assisting businesses in the state. It hosts several events that are focused mainly on networking opportunities, as well as business education and executive development.

Utah Business

Utah Business is a monthly publication that features notable statewide business stories. It addresses a wide range of topics, that range from business leaders to emerging technology, and executive lifestyles within the state.

Utah International Trade & Diplomacy Office

The office is a state agency that assists local businesses who wish to expand into international markets. It provides companies with trade leads, and connects them to many of the state’s international trade representatives. Aside from state firms, the office also helps foreign businesses who want to enter the Utah market.

Utah Science Technology and Research (USTAR)

The USTAR initiative is a state-funded projected dedicated to reinforcing the state’s position as a leader in the emerging knowledge economy. It promotes the creation and commercialization of technological innovation, by supporting research efforts in leading Utah institutions. The initiative also hosts events that focus on such innovations, and creating networking opportunities for regional talents.

Utah Small Business Development Center (SBDC)

The center partners with various business mentoring groups to provide assistance to small, emerging local businesses, and entrepreneurs. It offers consulting services in various business areas, that are aimed at helping small, minority, and disadvantaged clients succeed.

Utah US Export Assistance Center

This branch of the Department of Commerce specializes in helping small, to medium sized companies, in Utah, develop and execute exporting strategies. A few of its services include trade leads, market research, and business advocacy.

Utah.gov

The official site of the state of Utah, this site provides information on government, business, education, living, visiting, and working in the state. Business links include resources for starting a business in Utah, licensing information, and state laws and regulations. The site also offers a wealth of online services for citizen, business and government usage.

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