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Utah Business

Utah Rising: A new economic vision for an evolving state

Utah Rising: A new economic vision for an evolving state

This story appears in the May issue of Utah Business. Subscribe

As Utah faces the challenges and opportunities of rapid growth and change, the need for a new economic vision is undeniable. Utah Rising, an initiative led by a coalition of business and civic leaders, seeks to create a bold vision with focused objectives, including engagement and strategic action, innovation, quality of life, and collaboration.

Engaging leaders, driving action

The initiative seeks to galvanize business leaders, inviting them to actively participate in shaping the state’s economic destiny. This concerted effort is a commitment to take a proactive and collaborative approach, transforming ideas into tangible outcomes and sculpting a landscape where upward mobility abounds.

Business leaders charting the course

Encouraging fertile ground for innovation, the initiative underscores the importance of risk-taking and free enterprise as drivers of economic dynamism and growth. Utah’s history of strategic infrastructure projects, such as the Central Utah Water Project and the light rail system, underscores the state’s rich legacy of business leadership. These initiatives showcase how Utah’s business leaders have innovated to adeptly navigate the complexities of sustainable development and economic growth.

Quality of life for all

In the face of transformative growth, Utah’s path forward must center on our socioeconomic fabric by uplifting the undereducated and underserved. Recognizing that the state’s future prosperity hinges on the potential of its people and prioritizing human capital — with a significant emphasis on education — is essential. This strategic focus ensures a skilled workforce ready to propel Utah into a future marked by economic resilience and broad-based opportunity.

The escalating challenge of housing affordability has also emerged as a significant headwind. As prices surge, homeownership moves out of reach for more Utahns and our foundational middle class risks erosion. Addressing the affordability crisis with innovative housing solutions is crucial for maintaining Utah’s economy and ensuring that growth benefits all residents.

“As business leaders, we have a unique opportunity to shape Utah’s future — one that is prosperous, inclusive and reflective of the values that have always elevated our state.”

Collaborative excellence

The initiative also fosters collaborations that transcend traditional sector boundaries, leveraging a wealth of diverse insights to fortify Utah’s economic ecosystem. This collaborative spirit is key to nurturing an elite economy that sets a global benchmark for excellence, opportunity and quality of life. The Utah Rising framework calls for a synergistic approach and embodies a new paradigm of business leadership based on convening, coordinating and catalyzing action toward shared goals.

Join the movement

The journey ahead is both exciting and essential. It calls for leadership that is visionary yet pragmatic; ambitious yet grounded. As business leaders, we have a unique opportunity to shape Utah’s future — one that is prosperous, inclusive and reflective of the values that have always elevated our state.

I invite you to join the Salt Lake Chamber in this endeavor. Together, we can rise to the challenges and opportunities of our time, leading Utah into a new era of prosperity. Let us demonstrate what visionary leadership can achieve — for our businesses, our communities and the generations of Utahns yet to come.