Bay State, New England Fare Poorly In Economic Ranking
The annual American Legislative Exchange Council “Rich States, Poor States” report ranks Massachusetts 26th in the nation for economic competitiveness and is even less kind to the rest of New England.
The ALEC-Laffer State Economic Competitiveness Index, which is contained in the report, ranks Utah, Colorado, Arizona, Virginia and South Dakota as the top five most competitive states. The ranking is based on the states’ economic growth, personal income growth, income growth per capita and population growth over 10 years.
Massachusetts was hurt by its high level of corporate income taxes, the presence of a state “death tax,” and an overall state debt load.
The report is hard on the Northeast overall.
Connecticut ranked 32nd on the index followed by New Hampshire at 37 and Maine, Rhode Island and Vermont at 47, 48 and 49, respectively.
New York ranked last on the index.
WBJ Web Partners
Most Recent
Most Recent
0 Comments