The Northwood Group

Building Partner Investors

Utah #1 in Pro-Business Rankings

November 26

Pollina Corporate Real Estate, Inc. recently released its rankings for the top ten pro-business states in the country. After three years in second place, Utah is the first state west of the Mississippi to earn the top designation. This is a significant achievement affecting commercial real estate in Utah.

The rankings are based on a number of factors including taxes, human resources, energy costs, financial incentives and evaluations of state economic development programs. Brent Pollina, vice president of Pollina Corporate Real Estate and co-author of the study is quoted as saying, “Utah is a great example of what enlightened and motivated political leadership can accomplish with a solid plan.”

The strength of the Utah economy plays a significant role in the long-term value of commercial real estate investment in the state. Utah state unemployment rates recently dropped to 5.2% as the rest of the country inched back up to 7.9%. This resilience fuels the demand for office and industrial occupancy. The strong local economy continues to have strong residential growth as well, which fuels the retail demand. The Pollina Corporate Top 10 Pro-Business States study reinforces what we already know to be true: commercial real estate investments in Utah are more stable than most other commercial real estate markets in the country.

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