Utah was ranked as one of the wealthiest states in the country by a U.S. News & World Report last year, with top employers spanning from Intermountain Health, the University of Utah and retail grocers such as Walmart and Krogers.
As the state continues to see population growth following the COVID-19 pandemic, a recent study by SmartAsset examined which counties were wealthiest in the Beehive State by reviewing investment income, property value and median income. According to the report, most of the wealthiest counties are in northern Utah, with the exception being Washington County.
Top 10 wealthiest counties in Utah and its wealth index:
- Summit County — 63.85.
- Wasatch County — 45.09.
- Morgan County — 41.62.
- Davis County — 34.98.
- Salt Lake County — 33.20.
- Utah County — 32.93.
- Tooele County — 30.59.
- Juab County — 29.26.
- Weber County — 28.00.
- Washington County — 27.75.
Economic impact of Utah’s skiing industry
Known for its farming and mining background, Summit County has always owed a large part of its economic activity to the skiing industry, as Park City is one of the top ski destinations in the nation.
Recent data from the University of Utah’s Kem C. Gardner Policy Institute reported that during the 2022-23 ski season, the state’s ski industry brought in a total of $1.94 billion in nonresident visitor spending.
“These 2022-23 ski season statistics show that skiing, snowboarding, and tourism in Utah continue to be vital to the health of the state’s economy and benefit residents by providing fun ways to recreate outside, excellent jobs, and ample tax dollars from visitors that are used for community projects,” said Nathan Rafferty, president and CEO of Ski Utah, per the report.
“These numbers reflect the hard work our Utah ski resorts invest in providing fun, positive experiences for visitors and residents alike to look upon fondly,” he added. During the 2022-23 winter season, 25,980 jobs were filled across the state.
Multiple top-rated ski resorts are within about an hour’s drive from Salt Lake City, so northern Utah receives a leg-up regarding economic income from the outdoor industry.