Financial Banks and Utah

Utah is one of the few states where Financial Banks, or Industrial loan companies, thrive. 7 of the top 10 largest of these banks operate within Utah including the top 3 (Merrill Lynch Bank, UBS Bank, and American Express Centurion). 

Why is this? That's where it gets tricky. Utah is a very conservative state and the voters are more lax on financial regulations. Consequently, Utah has one of the lowest unemployment rates making the business sector stronger than most of the rest of the nation. 

These relaxed financial regulations draw in big financial institutions and innovative businesses. Myriad Genetics, at the University of Utah's Research Park, is one of the most innovative companies in the nation, for example. Adobe also recently opened up shop in Lehi making I-15 the epicenter of Utah's thriving business sector. 

With Lehi growing exponentially and Salt Lake City boosting development downtown, it is hard to see the state kicking its financial success anytime soon.

First can be Worst

Sometimes being number one is not a good thing. Utah may excel in unemployment but the state also tops the list as the state where women make least compared to their male counter parts. While its obvious this needs to change, there are some logical reasons why this is.

Utah is stuck in the 1950's. Most of the state is Mormon and many women get married at a young age and begin having children, meaning they have less education than men in the state, on average. This limits the job options for women without a degree and also having multiple children makes it harder to work 40 hours a week.

This trend of young mothers has been decreasing in recent years, however the wage comparison has stayed roughly at the same rate. With mid term elections around the corner, the tide could change in regards to this statistic.