Beehive State Good for Business

None by KCPW

Utah 4th in Forbes Ranking

(KCPW News)Forbes magazine says Utah is the fourth best state in the country for business. The ranking is based on business costs, economic climate, growth prospects, labor, quality of life and regulatory environment.

"I live here and I could do business anyplace else in the country," says Merit Medical CEO Fred Lampropoulos concurs. "I think it's first, not fourth. But fourth is okay."

Lampropoulos is a member of the Salt Lake Chamber Board of Governors. He says it simply costs less to do business in Utah, considering land, taxes and labor costs. Plus, he says the proximity of a major airport is key.

"Having a Delta hub here from a business point of view and the ability to get in and out of Salt Lake with as many flights means we can be almost anywhere in the world with one stop," says Lampropoulos. "And that's a huge factor for us."

Lampropoulos says his company's biggest challenge is Utah's very low unemployment rate, which makes it tough to fill positions, particularly those requiring trade skills.

Utah trails Virginia, Texas and North Carolina in Forbes magazine's first-ever rankings of "The Best States for Business."

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