SALT LAKE CITY — Another accolade for the Beehive State.
MarketWatch at the Wall Street Journal on Tuesday named Utah the “brightest star” on the American flag. Why? Pollina Corporate Real Estate ranked Utah at the top of its list of Ten Pro-Business States for 2012.
The top ranking came after three consecutive years in the second spot on the list.
“Our tradition of responsible fiscal management, low taxes and a strong workforce have fueled Utah's predictable and stable business-friendly environment,” said Gov. Gary Herbert.
In 2011, Herbert initiated a review of the state's then-1,969 administrative rules, resulting in the revision or elimination of 368 rules.
"Utah is a great example of what enlightened and motivated political leadership can accomplish with a solid plan," said Brent Pollina, vice president of Pollina Corporate Real Estate and co-author of the study.
The Pollina Top 10 research identifies states with exemplary pro-business policies that counteract the effects of economic instability.
Utah is the first state west of the Mississippi to rank No. 1 in the report.
The study, co-published with the American Economic Development Institute, analyzed a state’s pro-business environment across 32 individual measures that state governments control, including taxation, human resources, economic incentive programs and state economic development efforts.
Specific measures that helped determine Utah's top ranking included right-to-work legislation, business tax structures, energy costs and educational attainment rates.