The Provo-Orem area has been named #1 in the 2021 Milken Institute Best-Performing Cities Index for large cities. Salt Lake City also ranked high on the list at number 4. The Milken Institute tracks the economic performance of approximately 400 areas in the United States. According to their site, they use an outcomes-based set of metrics including job creation, wage gains, and high-tech GDP growth to evaluate the performance of these cities relative to one another.
LARGE US CITIES – TIER I
1. Provo-Orem, Utah
2. Palm Bay-Melbourne-Titusville, Florida
3. Austin-Round Rock, Texas
4. Salt Lake City, Utah
5. Raleigh-Cary, North Carolina
6. Boise, Idaho
7. Phoenix-Mesa-Chandler, Arizona
8. Nashville-Davidson-Murfreesboro-Franklin, Tennessee
9. Ogden-Clearfield, Utah
10. Huntsville, Alabama
11. Denver, Aurora-Lakewood, Colorado
12. Fort Collins, Colorado
13. Seattle, Bellevue-Kent, Washington
We are seeing more and more people relocate to Utah from more expensive tech and coastal areas. There is a significantly lower cost of living and conducting business here which has attracted tech giants such as Qualtrics, Vivint, and SmartCitizen. Many other well-known businesses call Utah County home, such as Adobe, Young Living, Doterra, and many more. Provo-Orem area had high one- and five-year job growth and benefited from a number of high-tech industries.
Provo-Orem, which is located in Utah County, has so much to offer. There are two universities, Brigham Young University (Tracy’s alma mater) and Utah Valley University (Jennifer’s alma mater). With more than 60,000 students in the area, its fabulous for investments and rental properties. A short distance up Provo Canyon is the world renowned Sundance Mountain Resort which offers plenty of Summer and Winter activities.
Being that its a growing metropolitan area, we have the advantage of having plenty of shopping, entertainment, and educational opportunities all the while still having nature so close by. Provo Canyon is a favorite for fly fishermen, hikers and those that just want to take a scenic drive.
Milken Institute is a nonprofit, nonpartisan, publicly supported organization. They rely on the generosity of individuals, corporations and foundations to develop programs that focus on widening access to capital, creating jobs and improving health. For more information visit https://milkeninstitute.org/