Provo, Utah Has Nation’s Top Performing Economy

The Milken Institute examined American cities and found that the Provo-Orem area, which lies roughly 40 miles south of Utah’s capital of Salt Lake City, is No. 1 for one-year and five-year job growth.

Provo-Orem was rated as the third-highest large city for high-tech GDP growth from 2011-2016 and had the third-best wage growth from 2014 to 2015.

“Technology has been a major driver of economic growth in the Provo-Orem metro,” the report reads. “The region ranked third among large metros for high-tech growth, and the professional, scientific, and technical services sector — the industry category that includes many high-tech jobs — added 5,500 positions between 2011 and 2016.”

The report added that weekly wages and overall household incomes in the area have risen in recent years. The largest employer is Brigham Young University, which provides a large number of the 24,000 educational services jobs in the area.

According to government statistics, Provo’s unemployment rate in November was 2.4 percent.

Raleigh, North Carolina was rated No. 2 on the Milken Institute list, followed by Dallas-Plano-Irving, Texas; San Francisco-Redwood City, California; and Fort Collins, Colorado.

Forbes, meanwhile, put Provo at No. 6 on its Best And Worst Places For Business And Careers list for 2017.