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Additional Information Regarding Utah’s Economy

According to the Utah.gov website, Utah has had a phenomenal year. All facts and figures can be found by clicking here for the downloadable pdf of Utahs economic review.

Wage in Utah: According to Real Pay (the best measure for an employees standard of living), Utah ranks 10th in the nation.

Total Personal Income: From Q3 2006 to Q3 2007, Utah ranked first in the nation (2.6% above the nation).

Rate of Job Growth: First in the Nation.

Unemployment: Second in the Nation.

Industry: Two of the largest sectors are Construction and Technology. Both of which are seen on the UtahLuxury.com website.

The U.S. Census Bureau ranked Utah third for population growth.

Home Prices: Utah ranks first for gaining 12.9% in the third quarter of 2007

Strong economy equates to strong spending power. Utahs residents are affording a more lavish lifestyle. The UtahLuxury.com visitor is technologically sophisticated, owns one or more computers, owns vehicles for both personal and business use, uses cell phones and email as a means of communications, are outdoor enthusiasts (i.e skiers, snowboarders, water skiers, wake boarder…), are in the market for a home, mortgage, vacation property or are interested in renovations, interior design services including purchasing furniture, art, decorations, landscaping products and services. UtahLuxury.com viewers are also more likely to have eaten at a restaurant, purchased jewelry, have cosmetic surgery, have investments (cd’s, IRA’s, investment homes…), have a gym membership and purchase a “luxury” vehicle than the average consumer.