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Provo-Orem, SLC rank high in performance

First Published      Last Updated Jan 23 2014 08:48 am

Provo-Orem came in second and Salt Lake City was fifth in the Milken Institute's ranking of the "Top 25 Best-Performing Large Cities."

An independent economic think tank, the nonprofit Milken Institute "believes in the power of capital markets to solve urgent social and economic challenges."

Its rankings are based on long- and short-term growth in jobs, wages, salaries and technology output. Provo-Orem was cited for its expanding technology sector and job growth, Salt Lake City for strong job growth in a diversified economy.

"This accolade speaks to the hard work being done in the state to create a business friendly environment focused on recruiting and retaining top companies," said Spencer P. Eccles, executive director of the Governor's Office of Economic Development.

Eccles noted that researchers at Harvard and the University of California at Berkeley also said recently that Salt Lake City is the country's top city for economic mobility.

"There is an 11.5 percent chance that a child born in the bottom economic [20 percent] in Salt Lake City could end up in the top economic quintile in his or her life," he added. "The fabled American Dream is more likely to be achieved in Salt Lake City than any other U.S. city. "