An oasis rising out of the desert, Salt Lake City was founded in the arid and inhospitable Salt Lake Valley in north-central Utah. Although Salt Lake developed a huge industrial footprint, mining nearby steel and transporting it all over the country, her modern economy is stoked by service-oriented industries. Government, professional, and business services, along with trade, transportation, and utilities comprise Salt Lake’s economic sectors.
Recreational tourism accounts for a considerable chunk of Salt Lake’s economy ever since it was the host city of the 2002 Winter Olympic Games. Salt Lake City hosts two Fortune 500 companies, Zions Bancorporation and Questar Corporation. The Salt Lake suburbs support many well-known tech giants such as Adobe, eBay, Unisys, and 3M. In 2017, Salt Lake City ranked number nine in Yelp’s Local Economic Outlook, a list of cities that offer the most opportunities for small businesses to thrive. Salt Lake’s economy relies on small business success.