Utah State Profile

Small business conditions in Utah slip; number of bankruptcies and foreclosures climb; economic recovery expected in 2010 due to modest job creation prospects; business tax climate rated among best in nation.

• State job growth fell 4.4% in August 2009 from a year ago; national job growth fell 4.4%.
• State unemployment averaged 6.0% in August 2009; the national average was 9.7%
• Personal income fell 2.7% to $85.6 billion in Q2 2009 from a year ago.
• Tax revenue fell 16.2% in Q2 2009 from the previous year.
• Exports fell 20.5% to $5.7 billion in the first seven months of 2009 from a year ago.
• Venture capital investment in UT was $93 million in Q2 2009, up from $28.7 million a year ago.