For many years, Utah’s authorities has offered quite a few assets and advantages for startups and small companies and continues to assist foster relationships between companies, training, authorities, and our communities. In doing so, Utah stays among the many high 5 states for companies within the U.S. For many small companies, social media platforms and different on-line advertising instruments have allowed them to proceed doing enterprise throughout the pandemic, enter new markets, and attain new clients on-line. Unfortunately, anti-innovation laws will prohibit this method by depriving startups potential to boost capital and threaten the instruments they use each day to achieve new and present clients, develop their enterprise, and foster financial progress.
Despite the pandemic inflicting financial lows, Utah’s economic system has been thriving. In November 2021, Utah’s unemployment rate dropped to a historic low of two.1%, half the nationwide mark of 4.2%. Utah’s tech trade represents 9.6% of our total workforce and is hiring greater than ever earlier than and over the subsequent decade, anticipated to develop greater than in another state. Utah has practically 8,200 tech companies, and the tech sector has a direct influence of $20.1 billion on Utah’s economic system. That proportion is the ninth-highest amongst all states. Our elected officers want to grasp that know-how will not be a risk however a number one software for companies and our continued financial progress. I urge our Congressional leaders to stay cautious of anti-competition payments that may in the end put our sturdy companies local weather and economic system in danger.