Mass. Drops In CNBC Business Rankings
Massachusetts' sixth place spot in an annual CNBC ranking of the best states for businesses has in the past been bragging material for Gov. Deval Patrick and other politicians.
But in the sixth annual ranking, released Tuesday afternoon by the satellite and cable business news channel, the Bay State fell from sixth place to a decidedly mediocre 28th place.
One reason Massachusetts fell was the cost of doing business in the state. It declined from 41st to 49th this year. The only state that fared worse on that metric was Hawaii.
Patrick pointed to a number of positive economic indicators in a statement yesterday.
"Over the last several years, Massachusetts has cut corporate taxes and burdensome regulations, reduced health care and energy costs and continued record investments in education, innovation and infrastructure. Our growth strategy consistently gets results – we've seen sixth straight months of job growth, and our unemployment rate is well below the nation's as well as many of the states listed in CNBC's top ten," Patrick said. "These rankings confirmed our strengths in access to capital, education and technology and innovation. We will build off of them and continue to advance our proven growth strategy until the commonwealth's economic recovery is complete."
Massachusetts ranked first in access to capital, up from second place in 2011, and it ranked third in education, up from fourth.
Texas finished in first place overall. Rhode Island ranked last for the second year in a row.
The rankings and methodology can be viewed here http://www.cnbc.com/id/46414199/
Material from the State House News Service was used in this report.
Image credit: freedigitalphotos.net
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