Category: 2014 Best & Worst States

Vermont’s rank is 15 spots below New Hampshire, but well above New York, which came in second to last. Maine was 36th, while Massachusetts fell into the bottom five, at 46th.

Despite its woes, California maintains its strength as a tech hub, being the home for Silicon Valley startups and investors, as well as the headquarters location for high-tech organizations such as Apple, Google, Cisco and Intel.

New Mexico’s GDP growth is significantly lower than other states at just 0.2%, compared to Florida’s 2.4% and Texas’ 4.8%. However, both its unemployment and tax rates are lower than the national average (6.4% and 8.4%, respectively). It’s also suffering from growing pains, including traffic gluts and increased crime in the Carlsbad area. In Albuquerque, the city has received a $100,000 grant, which it plans to use to build a research district, called Innovate Albuquerque, and generate new jobs.

Improving international trade is one way to boost the economy. Recently, a Vietnamese furniture maker opened up a factory in Arkansas, investing $5 million into the local economy and adding 75 jobs, according to the Southwest Times Record.

Having jumped 31 positions from 40th in 2010, Louisiana is the Cinderella state of Chief Executive’s ranking, proving that a concerted effort to transform old habits and policies can truly pay off. The state’s labor and economic development departments are currently preparing for a job boom in the hundreds of thousands.

New York’s high-tech startup, STARTUP-NY, designed to bring jobs to New York, poses some concerns. Critics feel that it is too narrowly focused in terms of the types of companies they are trying to attract and the places where they can be located, and have complained about everything from the cost of the advertising to the political motivations behind it.

The oil boom in North Dakota is driving increases in job availability there, so much so that Census Director John Thompson told the Associated Press that North Dakota was the fastest growing state in the nation. The unemployment rate there is a full 4.1% less than the national average.

Geographically, Delaware is well-positioned for all types of commerce. There are many ways in which this small but mighty state could move forward, and it will be exciting to follow their growth strategy in the year ahead. The first state to ratify the constitution, Delaware is a favored state for incorporation while still remaining “small and personal,” Gov. Markell said.

As we eagerly await the announcement of 2014’s Best & Worst States for Business, let’s take a look at last year’s Top 10 States.