Over the past several years Utah has regularly been recognized as one of the  “best place for business”, “best managed”, “fittest”, “healthiest”, ”most volunteers”, ”most livable” or “happiest” “state in the nation.

Now Forbes magazine has published a ranking that may shed a new light on one of the key reasons Utah enjoys these accolades; debt or the relative lack of it!.

Among all 50 States, Utah came out first in its prudent handling of debt. Forbes magazine considered a dozen or so factors, including unfunded pension liabilities, changes in tax revenue, debt as a percentage of GDP, debt per capita, growth expectations for employment and the state economy. Other considerations that went into the Forbes scorecard were net migrations and a “moocher ratio” that compares government employees, pension burdens and Medicaid enrollees to total private-sector employment.
Utah finished first overall thanks to AAA ratings from both Moody’s and Standard & Poors. A low debt per capita of only $447 also helped elevate Utah to first place.

“As Governor, I am happy to accept this No. 1 ranking on behalf of everyone involved in keeping our great state financially sound. From the Legislature’s continued fiscally conservative nature to our state agencies’ prudent management of their budgets, our mutual efforts continue to benefit all citizens of the State of Utah,” Governor

Gary R. Herbert said. “Despite current economic conditions, we have been able to meet our most critical needs and, I believe, will continue to do so while protecting public and higher education and not burdening Utahns with economy-stifling tax increases.”

Spencer Eccles, executive director of the Governor’s Office of Economic Development noted, “This ranking from Forbes will go a long way to help us in our daily effort to increase business growth and job development in the State.”

New Hampshire, Nebraska, Texas and Virginia followed Utah in the top five states . California, Connecticut, New York and Illinois were among the states with the worst debt ratios.