When it comes to economic development, population growth can be a wonderful thing. A growing population helps fuel demand for homes, apartments and scores of goods and services. In states with growing populations, franchises expand. New retailers open their doors. Additional restaurants set up shop. Builders add to their crews. Companies add new offices for new employees.
States with a growing population, especially an educated one as in Utah, also tend to attract more out-of-state business expansion because companies have little trouble finding good workers. Many times, these expansions in turn add to Utah’s population growth as a number of people relocate to the state for new job positions.
So it’s no surprise then that the states like Utah, which have high rates of population growth, also often have some of the highest rates of employment growth. Check out this slide show of states with the highest population growth. Four of the five states with the highest rate of population growth – Utah, Arizona, Texas and Idaho – also are among states with the highest rate of job growth in the nation. And the good news? The population growth-job-growth cycle, if it continues, can create economic prosperity for years to come.