Governor Tells Bloomberg That Businesses Thrive in Utah


Governor Gary R. Herbert spoke at the Bloomberg State & Municipal Finance Conference in Chicago, Illinois, about the economic recovery in Utah following the national recession. The Governor headlined the conference to tout Utah as a great place to do business. Utah maintains low tax rates, manages a stable regulatory environment, and provides stable, low-cost energy.

“As a state, we should be proud,” said the Governor. “Our unemployment rate is currently one of the lowest in the country at six percent, which is down from its peak of just over eight percent in January 2010. Utah also has the 49th lowest unemployment duration in the country.”

In December, the Governor unveiled his $12.9 billion spending plan for the state’s next fiscal year, starting July 1, and pledged to facilitate in the creation of 100,000 jobs in 1,000 days through ongoing business recruitment efforts. The budget summary released at the time showed that state revenues were climbing to $5 billion from $4.2 billion two years ago.

“My job is to provide a fertile field in which Utah businesses may plant their good seeds,” said the Governor. “We have rigorously reviewed Utah’s business regulations and of the nearly 2,000 total regulations we have in this state, 368 were modified or eliminated. I believe that greatest harm is caused by federal regulations and Washington, D.C., should follow Utah’s example.”

The Governor spoke among other influential members of the public and private sector. The goal of the Bloomberg State & Municipal Finance conference was to highlight various topics including pension reform and challenges, regulation and oversight in the municipal market, budget battles, and high-yield municipal strategies.

For more information about the Conference please visit the following link.

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