Utah Economy
The Kem C. Gardner Policy Institute provides analysis and data-driven, context-specific insights about the Utah economy. We prepare in-depth studies on key Utah issues in partnership with stakeholders in the private sector and in state and local government. Our research provides vital information that decision-makers and the public use to help Utah prosper.
The State of Utah’s Travel and Tourism Industry, September 2023 (Tri-Fold Brochure)
Visitors spent a record $11.98 billion in Utah’s economy in 2022, generating 152,800 total jobs and a record $2.12 billion in total state and local tax revenue. Utah ski resort visitation (7.1 million skier days) was at an all-time high during the 2022-2023 season, up 22% from the previous season.
State of the State’s Housing Market, 2022-2024
The pandemic years created unmatched volatility in Utah’s housing market. The volatility in these past two years surpassed 50 years of housing history. Building permits for residential units increased by 26% in 2021, only to fall by 26% in 2022. These COVID-19 pandemic years now join the Great Recession as one of those unique moments in Utah's housing market. The Great Recession produced 16 consecutive quarters of declining housing prices, while the pandemic produced the shortest and steepest homebuilding expansion and contraction on record.
Utah Economic Council Forecast, September 2023
The Utah Economic Council, convened by the David Eccles School of Business and Governor’s Office of Planning and Budget, publishes regular economic forecasts related to the Utah and U.S. economies. This includes potential risks to both the state and national economies that the council assesses and weighs.
September 2023 Utah Consumer Sentiment
Utah’s consumer sentiment rose 4.8% in September (from 71.5 in August to 76.3), according to the Kem C. Gardner Policy Institute’s Survey of Utah Consumer Sentiment. A similar survey by the University of Michigan found that sentiment slightly fell among Americans as a whole during the same time
Medicaid: What is FMAP and Why Does It Matter?
The Federal Medical Assistance Percentage (FMAP) is the share of Medicaid costs funded by the federal government.
Utah’s Consumer Sentiment Ticks up Slightly in July
August 11, 2023 (Salt Lake City) – Utah’s consumer sentiment edged up in July to its highest level since February 2022 (from 76.3 in June to 77.3 in July), according to the Kem C. Gardner Policy Institute’s Survey of Utah Consumer Sentiment. A similar survey by the University of Michigan found a larger increase among Americans as a whole (from 64.4 in June to 71.6 in July). […]
August 2023 Utah Consumer Sentiment
Utah’s consumer sentiment fell 5.8% in August (from 77.3 in July to 71.5), according to the Kem C. Gardner Institute’s Survey of Utah Consumer Sentiment. This is Utah’s first statistically significant decline in sentiment since February. A similar survey by the University of Michigan found sentiment fell among Americans as a whole, though the drop was smaller than Utah’s and not statistically significant.
Utah Economic Council Forecast, June 2023
Range Forecast for Selected Economic and Business Indicators, 2023 and 2024
Refugees in Utah (2023 Update)
United States law, which is aligned with international law, defines a refugee as any person who is outside their country of nationality or habitation and “is unable or unwilling to return to, and is unable or unwilling to avail himself or herself of the protection of, that country because of persecution or a well-founded fear of persecution on account of race, religion, nationality, membership in a particular social group, or political opinion."
Utah’s Consumer Sentiment Rises in June
July 10, 2023 (Salt Lake City) – Utah’s consumer sentiment rose in June 2023 to its highest level in more than a year (76.3, up from 71.0 in May), according to the Kem C. Gardner Policy Institute’s Survey of Utah Consumer Sentiment. A similar survey by the University of Michigan found an increase of similar magnitude among Americans as a whole (64.4 in June, up from 59.2 in May). […]