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Salt Lake City makes Fortune list of business hubs

Salt Lake City makes Fortune list of business hubs

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Best new cities for business
  • Salt Lake City, Utah
  • Austin, Texas
  • Vancouver, Canada
  • Lagos, Nigeria
  • Stockholm, Sweden
  • Santiago, Chile
  • San Jose, Costa Rica
  • Bogota, Colombia
  • Warsaw, Poland
  • Doha, Qatar
  • Ahmedabad, India
  • Gurgaon, India
  • Chengao, China
  • Chongqing, China
  • Melbourne, Australia

SALT LAKE CITY (AP) -- Salt Lake City is one of two U.S. cities making Fortune magazine's list of the world's 15 hottest up-and-coming cities for business.

Gov. Gary Herbert announced the mention in a statement Wednesday.

Fortune cited Salt Lake City's low tax rates and low-cost utilities as a reason for the ranking.

The magazine also noted start-ups emerging from the University of Utah, and a recent study pointing to Salt Lake City's workforce as the most productive in the nation.

Magazine writers spoke to corporate executives and economic development leaders to find where businesses were setting up shop. Local residents' age and personal income were key factors in the ranking.

Austin, Texas, is the other U.S. city on the list. Other cities include Vancouver, Canada; Lagos, Nigeria; Stockholm, Sweden, and Santiago, Chile.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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