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Gardner Institute: Utah leads U.S. growth but national headwinds and tariffs cloud Salt Lake City revenues
Summary
Natalie Goughner of the Kem C. Gardner Policy Institute told the Salt Lake City Council the state led the nation in 2024 GDP growth (~4.5%) and the city is seeing an estimated 4% population rise, but policy uncertainty, tariffs and a downturn in the visitor economy pose risks to sales-tax–dependent revenues.
Natalie Goughner, director of the Kem C. Gardner Policy Institute, told the Salt Lake City Council on May 13 that Utah led the nation in GDP growth for 2024 at about 4.5 percent while the U.S. averaged about 2.8 percent. She said provisional Gardner Institute estimates put Salt Lake City’s population just over 220,000 with about a 4% growth rate from 2023 to 2024, and noted nearly one-quarter of statewide jobs are in the city.
Goughner highlighted strengths — a well‑trained workforce, household incomes high on a cost‑of‑living–adjusted basis, and…
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