No. 1: Utah
Solution Provider 500 Companies: 1
Given that there's only one Utah solution provider on the SP500, the state is apparently undiscovered country for the channel. But, our analysis shows that entrepreneurs looking for a place to set up shop should have the state on their radar. Utah is ranked No. 1 for its low taxes (its 5 percent corporate income tax is among the lowest) and moderate regulatory environment. Its labor and related business costs are ranked No. 8.
But, Utah isn't just about low costs. It's ranked No. 2 for business opportunity and No. 9 for innovation and growth -- that includes its surprising No. 1 for awarded patents. And, it's No. 4 for fast-growing companies, behind only Virginia, Massachusetts and Maryland. Interesting fact: 90.1 percent of Utah households are online, highest in the U.S.
Utah has one solution provider on the Tech Elite 250, none on the Fast Growth 100 and 50 Up-And-Comers, and one on the Next-Gen 250 list.