While the news reports that the US economy is experiencing problems with recessions, the companies in Utah have a different experience with more companies and businesses flourishing in the region. The state's business environment is undeniably dynamic and innovative, especially in the Utah technology sector.
In the technology industries, there are good reasons to be optimistic. There are more that 5,000 I.T. companies in Utah. Amidst the recession in the United States, annual growth rates of businesses are rising in the area. Hundreds of new jobs are open for jobseekers and more investors are interested in locating their businesses in the state. That's why it's not surprising that Utah's technology industry is gaining on many states. Companies in Utah are also expanding and more big names joining in the game.
Certain sectors in technology, such as information services and marketing consulting, showed surprisingly high job growth of 41.2 percent and 19.5 percent, respectively. By that number, it shows that the technology industries were in a better position. Executive skill set and ability to expand even under recession is a sure sign that Utah tech will still continue to grow in the years to come.
The average technology worker's salary is 58 percent higher than the state wide average annual non agricultural wage, as noted by Richard Nelson, council president and chief executive officer of Utah Technology Council. Also, the trade in the technology industry became the second-largest category for the value of exports of computer and electronics in 2008. It was about $2.1 billion - a 126.7 percent increase compared to 2007.
Utah ranks second as the "best state for business" and "Best city for job" by Forbes Magazine. Ranking first in the America Legislative Exchange Council-Laffer State Economic Competitive Index economic outlook is another thing to celebrate for Utah.
Of course with such good news, there is the other side of it. Not exactly bad news, but Utah's technology industry continues to face the ongoing challenges of securing qualified workforce. There is no problem with the number of people that will help to boost the technology industry, but rather a problem retaining them and producing competent workers.
The Utah Technology Council or UTC ensures the technology in Utah develops the highest quality workforce in the nation as well as attracts investment to the state. UTC also discusses initiative and unique methods to secure the workforce that they need. The organization has been the premier professional association that fosters the growth of the technology industry.
The advancement of the technology of tech companies in Utah is foreseen to last. While others are keeping their business above ground in the market, these companies are opening their doors to more opportunities. The Utah Tech industry is growing faster and more business opportunities attract more investors.
In the technology industries, there are good reasons to be optimistic. There are more that 5,000 I.T. companies in Utah. Amidst the recession in the United States, annual growth rates of businesses are rising in the area. Hundreds of new jobs are open for jobseekers and more investors are interested in locating their businesses in the state. That's why it's not surprising that Utah's technology industry is gaining on many states. Companies in Utah are also expanding and more big names joining in the game.
Certain sectors in technology, such as information services and marketing consulting, showed surprisingly high job growth of 41.2 percent and 19.5 percent, respectively. By that number, it shows that the technology industries were in a better position. Executive skill set and ability to expand even under recession is a sure sign that Utah tech will still continue to grow in the years to come.
The average technology worker's salary is 58 percent higher than the state wide average annual non agricultural wage, as noted by Richard Nelson, council president and chief executive officer of Utah Technology Council. Also, the trade in the technology industry became the second-largest category for the value of exports of computer and electronics in 2008. It was about $2.1 billion - a 126.7 percent increase compared to 2007.
Utah ranks second as the "best state for business" and "Best city for job" by Forbes Magazine. Ranking first in the America Legislative Exchange Council-Laffer State Economic Competitive Index economic outlook is another thing to celebrate for Utah.
Of course with such good news, there is the other side of it. Not exactly bad news, but Utah's technology industry continues to face the ongoing challenges of securing qualified workforce. There is no problem with the number of people that will help to boost the technology industry, but rather a problem retaining them and producing competent workers.
The Utah Technology Council or UTC ensures the technology in Utah develops the highest quality workforce in the nation as well as attracts investment to the state. UTC also discusses initiative and unique methods to secure the workforce that they need. The organization has been the premier professional association that fosters the growth of the technology industry.
The advancement of the technology of tech companies in Utah is foreseen to last. While others are keeping their business above ground in the market, these companies are opening their doors to more opportunities. The Utah Tech industry is growing faster and more business opportunities attract more investors.
About the Author:
Great things are happening in Utah. Utah technology is growing at an all time high rate, and companies in Utah are hiring more people. Utah's tech sector is looking really good.
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