By BF Staff
From the May/June 2026 Issue
Business Facilities: Tell us about the status of economic development in Utah.
Jefferson Moss: The status of our economic development is strong and getting stronger. I believe that’s because we have a simple, foundational philosophy in Utah: “Industry belongs here.” Our balanced approach between short-term momentum and long-term infrastructure focus is building generational success. In fact, the data shows that Utah has been the best-performing economy in the country for the last 10 years, leading the nation with a 10-year GDP growth rate of 9.5%.
Our role at the Governor’s Office of Economic Opportunity is to help businesses thrive by serving as a guide. Business leaders, founders, and site selectors we work with are dedicated to building success, and we’re here to help them navigate challenges, realize their opportunities, and scale in ways that benefit Utahns and their bottom lines.
Recently, we guided significant capital investments across the state. In April, Creekstone Energy, LLC announced a $17 billion commitment to develop a data center in Millard County. Plus, Karman Space & Defense is working on a cutting-edge facility in West Valley. These projects highlight the significant growth we’re seeing in the energy and aerospace sectors.
BF: Why should companies consider Utah for their next relocation or expansion? What are targeted or growth industries in 2026, and beyond?
Moss: Industry needs more than just a place. Industry needs a home, a collaborative place that embraces builders. If you’re looking for a business-friendly environment that incentivizes growth using data-informed strategies, Utah is the place. We are consistently a top three state for building billion-dollar companies, our tech sector is growing faster than any other state, and we’re leading the way in next-generation energy and in our pipeline of talent and commercialized ideas coming out of our universities.
In targeted and growth industries, our key focus areas are aerospace and defense, fintech, life sciences and health care, and energy and minerals. These sectors align with the structural shifts that your readers are navigating.
Utah Governor’s Office of Economic Opportunity
As domestic manufacturing evolves and reshoring takes center stage, our years-long proactive approach in advanced manufacturing and aerospace and defense in particular is paying off, as evidenced by some of our recent incentive recipients.
Additionally, amid rising global energy demand, we’ve outlined an aggressive plan for an “Energy Decade” as a key focus area within our state. This focus is doubly beneficial as it both helps us meet our immediate needs and positions us for future growth, making Utah a prime spot for energy and minerals.
BF: Why is the Utah workforce ecosystem an asset to business?
Moss: Site selection often hinges on having a strong talent pipeline. Here in Utah, we really see our workforce as a huge asset. Our young, healthy, and well-educated population is a key strategic advantage for us and the foundation of the home we offer to growing industries. We boast a nearly 70% labor participation rate from a workforce with a median age of 32. About 62% of Utahns hold a postsecondary degree, and about 76% of those graduates have high-yield degrees tied to high-demand occupations. In 2025, our employment growth rate doubled the national average. Last year alone, we saw more than 70,000 new graduates.
We’re also perfectly positioned in today’s globally interconnected economy. According to the most recent census, 130 languages are spoken in Utah, both at home and at universities.
Business Facilities has previously highlighted the effectiveness of partnerships between education and economic development, and we couldn’t agree more. Through initiatives like the Nucleus Institute, we’re actively supporting an innovation economy through education, physical spaces, and more.
Nucleus, as an example, brings together Utah’s universities, industry leaders, entrepreneurs, and policymakers to transform big ideas into meaningful solutions and businesses. By investing in our people and aligning education with market needs, we’re making it easier for companies that move to Utah to find the skilled professionals they need to grow and succeed, and for entrepreneurs to find access to community, resources, and capital.
BF: Why are the state’s location and infrastructure advantageous for business?
Moss: We know that industry needs resources and help navigating them, and we have an extraordinary mix of both. We work to understand exactly what logistical, natural, and institutional resources businesses need.
This is why next-generation firms like Valar Atomics are looking around the country for places to build, and they’re choosing Utah — out of 22 states, we were selected as the place for their groundbreaking small-form nuclear reactor testing and development. This effort is not limited to a single site; we’re also developing the ability to manufacture nuclear power components and build a talent pool for it in-state. It’s an ecosystem approach that has worked well for us historically.
We also offer massive logistical resources through some of our current projects of statewide significance, including the Utah Unland Port Authority, the Military Installation Development Authority, and The Point. These projects highlight some of our urban infrastructure that prioritize our targeted industries, but we’re not limited to them.
We recognize the significant resources available outside the Wasatch Front in energy, minerals, and workforce. Just this month, we approved an incentive for the Creekstone Gigasite project in Millard County. This large-scale power and AI data center will generate and operate a remarkable 10 gigawatts of capacity, entirely behind the meter.
BF: Why is the future bright for business in Utah? What is the current vision for the state’s economic development path?
Moss: Our vision is deliberate and ambitious. Here in Utah, we’re aiming to be the nation’s top-performing economy while enjoying a fantastic quality of life. We know that industry needs long-term success. We’re not interested in short-term wins at all costs; our outlook is practical and focused on creating an unmatched environment for opportunity and livability.
We foster this mindset through a stable regulatory environment that enables innovation rather than stifles it. Governor Cox’s “Built Here” initiative plays a big role in this journey, showing our commitment to our people, our communities, and prosperity for all. We also have a generational, future-focused outlook as we work to secure water infrastructure, achieve energy dominance, and capitalize on our upcoming Olympic moment in 2034.
By striking a balance between attracting major global investments, supporting local entrepreneurs, and prioritizing social connections and statewide unity, we’re determined to maintain our reputation as a place that overperforms and punches above its weight. We have the grit and ability to help businesses achieve long-term prosperity, providing the strategic advantages they need to thrive.
