3 Reasons Utah is Taking the Tech World by Storm
Once upon a time, mentioning the ‘Silicon Slopes” would result in looks of confusion all around. It’s a very different story now.
Now, Silicon Slopes is known as a tech hub where the greatest minds have come together to bring exciting new innovations and revitalize the tech industry. Move over, Silicon Valley – there’s a new tech hub to watch.
The Silicon Slopes is an area in Salt Lake City that encompasses Provo, Midvale, Park City, and surrounding areas. So, it’s not surprising that Sleek Capital named Utah the number one state for startups in the U.S.A.
Read on to discover three reasons why the Silicon Slopes utah tech hub has caught the attention of entrepreneurs, startups, and investors from all around the world.
1. A Tech Boom That Was Years in the Making
While the Silicon Slopes tech boom has only been on people’s radar in recent years, it has actually been years in the making.
The evolution of this exciting new tech hub began in the 70s, with tech giants such as Novell, Evans & Sutherland, and WordPerfect emerging, growing, and finding massive success in Salt Lake City.
There was a lull in the activity in the Silicon Slopes for two decades, then the tech industry began to boom again in the early 00s and late 90s.
Tech giants such as Omniture, Vivant, and Ancestry.com set up in Utah. In fact, Omniture, which had acquired Adobe, also brought Adobe’s headquarters to Salt Lake City.
2. Affordable Housing and a Low Cost of Living
Many tech startups and entrepreneurs choose to start in Utah’s Silicon Slopes. When you look at the price of real estate and the low cost of living in Utah, it’s easy to see why.
Compared to Silicon Valley, the Silicon Slopes offer larger properties for lower prices, mitigating the cost of perks and amenities.
Tech companies in Salt Lake City can focus on providing premium amenities to their growing workforces – such as setting up offices with in-house gyms, cafeterias, and other luxury office perks – to attract top talent.
Utah also attracts industry leaders and employees from all over the world due to the lower cost of living and abundant, affordable housing. In fact, the IT trade association CompTIA reported that from 2016 to 2017, Utah had the most significant increase in tech positions in the U.S.
3. A Supportive State Government
Utah’s name appears in the top five best states to do business in every year, and there’s a reason for that.
Utah’s government has spent decades focusing on the state’s education and the partnership between businesses and the community – fostering a unique environment where the tech industry could thrive.
One example of the government’s support of Silicon Slopes is Governor Michael Leavitt. Leavitt frequently traveled to Silicon Valley in the 90s to try and convince existing tech companies to relocate to Salt Lake City – and it worked. Shortly after, eBay opened its research operations and main customer service center offices in Silicon Slopes.
Another example of the Utah government’s efforts to foster a thriving tech industry was providing a $150 million tax incentive for Facebook to persuade it to house its data center in Utah.
