Growing Population

Fastest Growing Population an Indicator of Utah's Economic Strength
by PR or News Wire
21 April 2009—

Three of Utah's metros were included in the top-ten fastest growing metropolitan areas in a report released by the Census Bureau this month!! Provo-Orem, Logan and St. George metro area all made the top-ten. The reports list 363 metropolitan areas throughout the nation.

The Provo-Orem metro area saw population growth of 3.4 percent which was the sixth highest in the nation. Logan metro area ranked ninth nationally with a 3.2 percent increase and coming in at number ten was the St. George metro area with a 3.1 percent increase.

One-third of Utah's growth came from in-migration from outside the State. This is an indication of Utah's overall economic strength.

Although the economy has slowed down, it is still outperforming most of the nation and is maintaining a substantially lower unemployment rate. This would indicate that we will still continue to see an increase in net in-migration to the state. "Business leaders and individuals, even internationally, are recognizing the long term trends in Utah. The State is being recognized as a long term 'hot spot' and companies must plan for the long-term; they want stability and security, "says, Pam Perlich, senior research economist at the University of Utah.

In addition to having a young well educated labor force, the fact that many people are relocating to Utah in search of quality employment adds to Utah's attractiveness when companies are looking to expand or relocate. These facts are recognized as positive considerations for companies who are in a growth mode, despite the general economic downturn. Successful companies must plan for the long-term and the trends of in-migration, natural growth and a young well educated workforce all bode well for the State.