slides: New England’s Most Competitive States For Business—New Ranking

Email to a friend Permalink

Friday, April 12, 2013

Sabrina Abballe, GoLocalProv Contributor

The likelihood of succeeding in the business world may depend on in which state you live, and the new 2012 Beacon Hill Institute Competitiveness Index measures and ranks each state by its ability to promote economic growth.  Massachusetts' topped the list at #1 in overall competitiveness, with competitive advantages across the board

Compiling the Ranking

The BHI Competitiveness Index, published annually since 2001, is a number between 0 and 10 that measures each state’s capacity to facilitate economic growth through increasing personal income. The index is based on 43 factors in eight different subcategories: government and fiscal policy, security, infrastructure, human resources, technology, business incubation, openness, and environmental policy.  The BHI measures both advantageous and disadvantageous factors in these categories to determine each state’s ability to generate higher incomes.  Massachusetts ranked the highest at #1 for competitiveness in business, with Mississippi the worst state for competiveness at #50.

“While there are several factors that make states competitive, measures around education technology and infrastructure are the common threads that support a strong showing,” said Frank Conte, project manager for the BHI report.

The Best 10

#1 Massachusetts was the only New England state to make the top ten of most competitive states for business, followed by North Dakota (#2), Minnesota (#3), South Dakota (#4), Utah (#5), Colorado (#6), Texas (#7), Washington (#8), Virginia (#9), and Kansas (#10).  New Hampshire just missed the top ten with a #12 ranking.

See how each New England state fared, below. To view the complete BHI 12th Annual State Competitiveness Report, click here.

Related Articles

• 4 Central Mass Businesses Named 2012’s Best Places to Work
• 50 Best Cities + Towns For Doing Business in Central MA
• Changes to Worcester’s Tax Classification Will Bury Small Businesses
• GoLocalTV: Warren Answers Questions About Lack of Spending With Women Businesses
• Impact Of Patrick’s Deregulation On Small Businesses
• John Monfredo: WTHS Grant Invests in Future Business Leaders
• Julia Steiny: When a School Makes Itself Useful To Business
• 12 Biggest Business Stories in Central MA in 2012
• LEGAL MATTERS: Should You Incorporate Your Business?

Enjoy this post? Share it with others.

Email to a friend Permalink