News Release

2022 Economic Report to the Governor shows major comeback following pandemic recession shock

January 13, 2022 (Salt Lake City) – The Kem C. Gardner Policy Institute today presented the 34th Economic Report to the Governor to Utah Gov. Spencer Cox at the 2022 Economic Outlook & Public Policy Summit, hosted by the Salt Lake Chamber. The report has been the preeminent source for data and commentary on Utah’s economy for over 30 years, with the latest edition highlighting Utah’s economic comeback in 2021 following the COVID-19 pandemic recession shock.

“The consensus forecast predicts another year of substantial economic expansion in Utah in 2022,” said Gardner Institute director Natalie Gochnour. “The most pressing internal risks will be growth-driven challenges like a limited labor supply, increasing costs, and housing affordability. Declining fertility, air quality, and water challenges will also add pressure. Despite these challenges, Utah’s fundamental advantages—a youthful demographic profile, economic diversity, a stable fiscal and regulatory environment, crossroads of the west location, global connections, and social cohesion—will continue to influence the state’s economic position in 2022 and