The economySoftware, finance and a fast-growing workforce along the Wasatch Front.
Utah’s economy is young and still compounding. The Census Bureau puts the population at 3,538,904 in its July 2025 estimate, 8.2% above the 2020 base, and counts 95,494 employer establishments whose payroll grew by 3.8% between 2022 and 2023 to just under 1.58 million people. Beside them sit 304,287 nonemployer businesses — contractors, consultants, sellers and side ventures run by their owners alone.
The Governor’s Office of Economic Development names five targeted industries: aerospace and defense, fintech, technology (it lists AI, quantum and blockchain), life sciences and healthcare, and energy and minerals. The Bureau of Labor Statistics shows where the office jobs already are: 260,600 in professional and business services and 102,400 in financial activities in August 2026, against 155,500 in manufacturing and 40,400 in the information sector. The software cluster between Lehi and Provo that the industry calls Silicon Slopes is only one part of that picture; card issuers, lenders, insurers, clinics and defense suppliers along the Wasatch Front employ far more people between them.
That mix matters for the kind of work that pays back. A company in a state with a deep software labor market can often hire engineers for its product, yet still struggles to find anyone with time for internal plumbing — the reconciliations, handoffs and reports that sit between the systems it already bought. Those projects rarely justify a permanent hire, which is exactly where an outside build team is most useful.