Innovation is transforming economies, revitalizing communities, and breaking barriers of technological limits around the country and world, and Utah is no different.

Driven by venture capital (VC) activity and a supportive business environment, a new study reveals that small and medium-sized cities are blossoming into regional tech hubs. Through VC investments, we’re witnessing a surge in tech innovations. Cities like Ogden, which experienced a 34 percent increase in the number of utility patents granted overtime per 100,000 residents, are emerging as America’s new innovation hotspots. Utah also saw a 21.5 percent increase in new business applications from 2022 to 2023.

Not only is this strengthening Utah’s economy and attracting more business to the state, but it’s also helping expand the United States’ tech ecosystem beyond the traditional coastal hubs and making America more competitive globally.

There is tremendous economic potential still to be captured by technological innovations, and American businesses right here in Utah must harness these economic benefits. Because of our startup culture and supportive policies that promote innovation, Utah ranks number one in economic outlook and gross state product growth.

Utah’s success is not a stroke of luck but a result of strategic decisions and policies. It’s a playbook that leaders across the country, on every level, should emulate. Technology, innovation, VC investments, and startup culture play an important economic role. Policymakers must support policies that promote innovation and tech developments so that more innovation hubs can emerge across the country and the United States can secure its spot as a global innovation leader.

Maren Pickett

Erda

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