A new nationwide survey by CNBC shows Connecticut is ranked eighth worst for its business environment. The state is particularly hurt by low scores in the cost of doing business, infrastructure and cost of living.
It’s a big drop for the state, which was ranked 33rd overall in 2015.
The survey, conducted by the television business network CNBC, said Connecticut is ranked 47th for both cost of doing business and infrastructure, and 46th for its cost of living.
The state’s best ranking comes in workforce and education: both in the 18th spot. The workforce ranking is based on the education level of the workforce, the number of available employees, and the states’ demonstrated abilities to retain college-educated workers. For education, in addition to K-12 factors, the survey looked at the number of higher-education institutions in each state, as well as long-term funding trends for higher education.
Utah was ranked the best state overall for doing business, including the previously mentioned factors, as well as economy; quality of life; technology and innovation; business friendliness; cost of living; and, access to capital.
Rhode Island was ranked last.
