Utah's capital city is gaining a global reputation for being one of the best markets for business. Fortune Magazine has ranked Salt Lake City as one of the best new cities for business in the world.

Salt Lake was among just two American cities to make the list along with Texas' capital, Austin. The only other North American city was Canada's British Columbia, capital of Vancouver.

The report examined economic data as well as asked business leaders where they planned to open new offices and factories. The report also included information on emerging innovation hubs around the globe.

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For more information on all the cities included in the list, visit money.cnn.com/

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