The modern economy of Salt Lake City is service-oriented. In the past, nearby steel, mining and railroad operations provided a strong source of income with Geneva Steel, Bingham Canyon Mine, and oil refineries. Today the city's major industries are government, trade, transportation, utilities, and professional and business services. The city is known as the "Crossroads of the West" for its central geography in the western United States.
Local, state, and federal governments have their largest presence in the city proper itself, and trade, transportation, and utilities also take up a significant portion of employment, with the major employer being the western North America Delta Air Lines hub at Salt Lake City International Airport.
Since Utah is one of seven states that allow the establishment of commercially-owned industrial banks, the vast majority of industrial banks in the U.S. have established their headquarters in the Salt Lake City area. High-tech firms with a large presence in the suburbs include e-Bay, Unisys, Siebel, Micron, L-3 Communications and 3M. |