A corporate-relocation expert has ranked Utah as one of the top pro-business states for the second year in a row. Utah Governor Gary Herbert joined Varney & Co. this morning to tell us why big names in tech like Twitter, e-Bay, Electronic Arts, and Adobe are leaving California and setting up shop in his state.
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“We have a great labor force here,” said Gov. Herbert. “Our median age in Utah is only 28.8 years of age so we’re young, energetic, high tech-savvy, and bilingual.”
In addition to a younger population, the California-based companies look to Utah for its lower business and living costs. “There’s a lot we have to offer in the labor force and we have lower taxes,” said Gov. Herbert. “We’ve reduced our income tax rate from seven to five so there’s some incentive for people to relocate, or at least to expand their business operations in a place like Utah.”
San Jose-based Adobe Systems Inc. is the latest to announce its expansion to Utah. The software company plans to build a $100 million campus and add 1,000 jobs. “We’re trying to make sure Utah is a fertile field for business, and whether we’re stealing them from California or from any other place in the West or across the country, we’re just trying to make sure there’s a business friendly environment here in Utah that improves your bottom line,” said Gov. Herbert.
Utah isn’t only focusing on California-based companies. Gov. Herbert hopes to attract businesses from around the country. “It’s not just California,” said Gov. Herbert. “We first are trying to grow from within. We have a lot of new entrepreneurial spirit here in Utah.”