Utah’s fintech industry is booming—creating jobs, boosting wages, and driving innovation. A new report from the Kem C. Gardner Policy Institute highlights just how big of a player fintech (financial technology such as banking apps) has become in the state’s economy.

67

fintech companies in Utah

8,000

jobs created in fintech
(plus 22,000 additional jobs in Utah’s economy)

$1 billion

in annual wages
(impacting $2.3 billion in wages across all industries)

$2.6 billion

in fintech industry output (generating $7.3 billion in total economic impact)

67%

of fintech companies in Salt Lake County, 26% in Utah County

$131,500

average salary—double the Utah statewide average

Data as of 2023