Provo has been ranked #1 for fastest job growth in the Nation (in the first quarter of the year) according to a new report from the Brookings Institution. Brookings found Provo’s rate of job growth accelerated rapidly to 2.2% —the fastest quarterly expansion in the nation! Provo also bested its peers nationwide with a full 1.0% quarterly increase in output, even as national economic growth turned negative. The unemployment rate fell by 0.2% points to 3.0%, the lowest in the region.
Provo’s entrepreneurial spirit and close proximity of Brigham Young University and Utah Valley University are to credit for the skyrocketing job and economic growth. Also, Provo has a section of businesses that brought in more capital per geographic area than any other place in the United States. Larger companies like Vivint, Qualtrics and Ancestry.com have made national names.
Check out more of the ranking here: brookings.edu/~/media/multimedia/interactives/2015/metromonitor_june/mountain-monitor-2015q1.pdf
Watch the video above for exciting Provo projects that will be announced in the coming months!