Silicon Slopes – Technology Growth in Utah
Submitted by Alex Cortez through the Trefis Contributor Program
With Utah being one of the top job creating states in the country as of last year, tech companies seem to be flocking to the area to take advantage of the strong economic growth the area has attained. In 2011, computer system design jobs rose to 12% with scientific and technical jobs also rising to 9.7% stimulating job growth the rest of the country would envy.
Skullcandy, a Park City based company also home to the retail giant Backcountry.com, seems to be an up and coming location for tech businesses based in the small ski resort town. Just a quick drive from the Salt Lake City valley, the area is a popular location for tourism due to the multitude of ski resorts as well as venues such as the Sundance Film Festival. The area is known to have celebrity residents and other wealthy figures taking advantage of the real estate in Park City and Deer Valley. These companies are taking advantage of the young, tech-savvy workforce who live in the area and are thriving in their prospective marketplaces for a reason.
- Will United Airlines Stock Continue To See Higher Levels After A 20% Rise Post Upbeat Q1?
- Up 8% This Year, Why Is Costco Stock Outperforming?
- Down 7% In A Day, Where Is Travelers Stock Headed?
- What’s Next For Johnson & Johnson Stock After Beating Q1 Earnings?
- Should You Pick UnitedHealth Stock At $480 After A Q1 Beat?
- American Express Stock Is Up 17% YTD, What To Expect From Q1?
Ebay has called Utah a home for its business for some time now and companies like Adobe are quickly following suit with the long list of tech companies breaking ground in the area. With the state corporate tax rate being a flat 5%, it is over 1.6 points below the 50-state average. Utah is also popular for having a minimal barrier to entry for business creation making it that much more attractive for business to bring operations to the desert soil.