51 Utah Business Stats & Facts For 2025

Here are 51 business stats about Utah for 2025.

Basics:

Population: 3,417,734 (US Census 2020)
Population desnity per square mile: 39.70
GDP: $272,586 (millions USD)
GDP Per Capita: $80,476
Median household income (in 2022 dollars): $86,833
Real GDP Growth Rate: 2.50%
Total Employment: 1.9m
Unemployment Rate: 2.2%

Rankings

% Share of National Economy: 0.99%
State Economic Growth Rank (out of 50): 1
Population Growth Rank (out of 50): 2
Business Growth Rank (out of 50): 2
State Growth Rank in Employment (out of 50): 46

Biggest Industries In Utah By Revenue

1. Drug, Cosmetic & Toiletry Wholesaling: $20.9b
2. E-Commerce & Online Auctions: $11.4b
3. New Car Dealers: $11.3b
4. Grocery Wholesaling: $11.1b
5. Petroleum Refining: $11.1b
6. Oil Drilling & Gas Extraction: $10.4b
7. Mail Order: $9.1b
8. Software Publishing: $8.7b
9. Hospitals: $8.4b
10. Warehouse Clubs & Supercenters: $8.3b

Biggest Employers In Utah

1. Intermountain Healthcare: 59,000 (3.1%)
2. University of Utah: 39,300 (2.0%)
3. Walmart Inc.: 21,831 (1.1%)
4. The Kroger Co.: 8,929 (0.5%)
5. Amazon.Com, Inc.: 8,000 (0.4%)
6. The Home Depot, Inc.: 4,824 (0.2%)
7. United States Postal Service: 4,528 (0.2%)
8. Delta Air Lines, Inc.: 4,500 (0.2%)
9. United Parcel Service, Inc.: 4,500 (0.2%)
10. Zions Bancorporation: 4,500 (0.2%)

Small Businesses In Utah

Number of Small Businesses 333,361
Percent of bossiness that are small businesses: 99.30%
Number of employees: 635,432
Share of Employment: 45.20%
Number of New Businesses In The Past Year: 18,207
Number of Businesses That Closed In The Past Year: 11,398
Net Change In New Businesses: 6,809

Number of Businesses With No Employees: 262,525
Number of Businesses with 1-19 Employees: 63,560
Number of Businesses with 20-499 Employees: 7,576
Share of Businesses Owned By Women: 43.80%
Share of Businesses Owned By Veterans: 5.30%
Share of Hispanic Owned Businesses: 8.20%
Share of Businesses Owned By Racial Minorities: 5.20%

Fortune 500 Companies In Utah

Number of Fortune 500 Headquaters: N/A
Biggest Company: N/A
Biggest Company Type: N/A
Number of Employees: N/A
Revenue (in millions): N/A

Taxes In Utah

State Corporate Tax Rate: 4.65%
State Corporate Tax Rate Brackets: $0

State Sales Tax Rate: 6.10%
State Sales Tax Rank (out of 50): 16
Average Local Sales Tax Rate: 1.15%
Max Local Sales Tax Rate: 4.20%
Average Combined Sales Tax Rate: 7.25%
Combined Sales Tax Rank (out of 50): 20

Minimum State Income Tax Rate If You’re Single: 5.00%
Minimum State Income Tax Rate If You’re Married: 5.00%

General Utah Population Facts

In civilian labor force, total, percent of population age 16 years+: 69.10%
In civilian labor force, female, percent of population age 16 years+: 61.80%
Share of population which is foreign born: 8.40%
Mean travel time to work (minutes), workers age 16 years+: 21.9

Housing

Number of Housing Units: 1,258,623
Owner-occupied housing unit rate: 70.70%
Median value of owner-occupied housing units: $408,500
Median gross rent per month: $1,302
Households with a computer: 97.20%
Households with a broadband Internet subscription: 91.90%

Education

High school graduate or higher, percent of persons age 25 years+: 93.20%
Bachelor’s degree or higher, percent of persons age 25 years+: 36.10%

Also See

• Utah Registered Agent Services
• Utah Secretary of State Business Search
• How To Form an LLC In Utah
• Utah Bookkeepers & Bookkeeping Services

Sources

• https://en.wikipedia.org/wiki/List_of_U.S._states_and_territories_by_GDP
• https://en.wikipedia.org/wiki/Economy_of_Utah
• https://www.ibisworld.com/united-states/economic-profiles/utah/
• https://taxfoundation.org/data/all/state/2024-sales-taxes/
• https://taxfoundation.org/data/all/state/state-corporate-income-tax-rates-brackets-2024/
• https://taxfoundation.org/data/all/state/state-income-tax-rates-2024/
• https://advocacy.sba.gov/2023/11/14/2023-small-business-profiles-for-the-states-territories-and-nation/
• https://advocacy.sba.gov/wp-content/uploads/2023/11/2023-Small-Business-Economic-Profile-UT.pdf
• https://www.bls.gov/eag/
• https://www.bls.gov/regions/mountain-plains/utah.htm#eag
• https://www.census.gov/quickfacts/fact/table/UT,US/PST045223
• https://www.50pros.com/fortune500