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NEW: Best States for Business - Forbes Magazine

Wednesday, November 23, 2011

 

Forbes Magazine has listed its rankings for the best states for doing business and the New England states took their lumps.

According to the 6th Annual report issued by Forbes, Utah ranked #1 as a business environment and the New England states rank between #18 and #50.

Forbes measured:

Business costs rank
Labor supply rank
Regulatory environment rank
Economic climate rank
Growth prospects rank
Quality of life rank

Rhode Island and New England

Rhode Island came in at #48 for best for business scoring ahead of only Hawaii (#49) and Maine (#50).  Rhode Island's best scores were for Growth Prospects - where the state ranked #17 and for Quality of Life #18.

According to Forbes, "The worst states for business continue to be dominated by those in the northeast including: New Jersey (No. 44), Vermont (No. 45), Rhode Island (No. 48) and Maine which lands at No. 50 for a second straight year. Maine suffers from energy costs 31% above the national average, stagnant population growth and anemic forecasts when it comes to job and gross state product growth."

Massachusetts was the highest rakning in New England at #18, followed by New Hampshire at #27, Connecticut #35, Vermont #45, Rhode Island #48, and Maine #50

Massachusetts ranked #1 for Quality of Life.

Rhode Island ranked #50 for Regulatory environment.

 

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