The state of Utah has a very diverse, successful, and ever-expanding economy. The gross state product is $82.6 billion and growing steadily. Additionally, according to the 2007 New State Economy Index, Utah is the top state in the nation in terms of economic dynamism which refers to: “the degree to which state economies are knowledge-based, globalized, entrepreneurial, by information technology and based on innovation”.

In the past, Utah’s economy was made up primarily of agricultural industries, including ranching, mining, and natural resources. While these remain key components of the state’s economy, there are a number of other fast-growing industries, including technology and medicine. Salt Lake City has become a hub for several small marketing, technology, design, and software companies and is home to the University of Utah Medical Center.

Another major industry is oil refining, especially in eastern Utah. Several of the major oil companies own oil refineries located up and down the Wasatch front. Also, central Utah is known for coal mining.

Utah freight transportation has become another profitable industry as Utah provides access to the western United States. Interstate 15 runs north-south through the state, connecting the northern Great Plains states (such as Idaho, Montana, and the Dakotas) to the west. Additionally, Interstate 80 (which runs from the east to west coast) runs through Utah and the east and west corridor runs through Salt Lake City.

Last, but certainly not least, is tourism. Perhaps one of the most profitable industries in the state, the winter season brings hordes of tourists to Utah, eager to experience the “greatest snow on Earth.” Buoyed by the 2002 Winter Olympics, Utah’s ski resorts – regularly named some of the best in the country and the world – are experiencing some of the most profitable seasons in history. Additionally, Utah is home to Zion National Park and other national parks that attract tourists from around the world.