Connecticut ranks 35th – just behind Massachusetts – among the nation’s best places for business in 2009, losing ground from its ranking a year earlier, according to Forbes.com.
New England states overall showed poorly — with Rhode Island placing dead last — on the latest ranking by the business-information publisher.
Virginia topped the list at No.1.
Georgia, where engine-maker Pratt & Whitney Co. is moving some of the 1,000 jobs it is cutting from Connecticut, ranks No. 6.
Forbes.com said today its 2009 ranking measures six vital categories for businesses: costs, labor supply, regulatory environment, current economic climate, growth prospects and quality of life. It also factored in 33 different points of data to determine the ranks in the six main areas.
Business costs that include labor, energy and taxes were weighted the most heavily, Forbes said.
Connecticut ranked near the bottom in four of six major categories.
According to Forbes, the state is 45th in business costs; 18th in labor supply; 33rd in regulatory environment; 31st in economic climate; and 37th in growth prospects.
Connecticut’s best showing was in quality of life at No. 3, behind No. 1 Virginia and No. 2 Massachusetts.
Rounding out New England, Forbes ranked New Hampshire No. 19 overall for business, just ahead of its 20th spot a year ago; Massachusetts improved to No. 34 from 36th place; Maine rose to No. 41 from 46th; Vermont was No. 47, down from 36th; and Rhode Island was No. 50, down from No. 45 last year.
Reader response:
“And we wonder why businesses are leaving CT. When are our elected officials going to wake up and address the high direct and indirect taxes on our businesses and employees? Only after an announcement of another pending business closing or layoffs, do these politcal “leaders” rush out with some ridiculous, grand standing proclamation. Do they think we are so stupid as to give them any credibility? Well, since we keep re-electing them, they must think so. And what are we thinking? Next election we should vote against every incumbment, regardless of party affliation who voted for any new “revenue sources”, taxes, increases in spending, or did not veto the same. If enough of them lose their re-election bid, perhaps the others will get the message.” — Curtiss Clemens, Century 21 Clemens & Sons
“The Forbes article highlights some important concerns about the high costs of doing business in CT, an onerous regulatory regime and limited prospects for growth.There are two bright signs, one of which was reported in the Forbes table, the other was buried a bit deeper. Our quality of life ranking was 3rd, which is not a big surprise. The other is derived from the population and production data – dividing production by population to get production per capita. At $50.7K, CT ranks 2nd in the country. The great risk is that a continuing hostile business environment will drive out those producers who are over taxed and over regulated.” — Tom Keogh, information security consultant
“Does this really surprise anyone?? I have already known this for years, Our Governor and reps etc need to wake up and do something about it!” — Patricia Bruhn Pebbles Graphics
“I wonder what would happen if the largest employer in the state were to pack up and leave. Gee, wait a minute, the largest employer in the state now is the state. Where did they all go? One look at the list and you can see that the trend will continue. Our state government doesn’t care because they aren’t going anywhere and guess who foots the bill? The few remaining few. Maybe we should ship most of these state jobs down to Georgia. Then we wouldn’t have to watch this nonsense on the local news anymore. I think we should petition for a bill that if you are convicted of being a politician then you have to serve twenty years hard labor working for your own small business.” — Greg Gondek, C&G Holdings LLC
“It is unfortunate that Connecticut continues to decline. What is more unfortunate there is no comprehansive, cohesive and visonary economic development plan for the state. We see a great deal of political grandstanding but no real thoughtful action.Now more than ever, state policy leaders, business leaders, academicians and others expert in economic issues must come together and set a viable, visionary economic course.” — Paul Moran, Jobs For New England Now
“The best economic developemnt program is lower taxes, less regulation, and tort reform. Major problems in CT are the role that unfunded mandates from the legislature have on local budgets as well as the onerous and unfair ‘binding arbitration’ rules which routinely hamstring local boards from holding the line during hard economic times as well as when the good times roll. I suggest that we throw the bums out in 2010! If anyone voted for this budget, then they have to go.” — Rick Willard, CT NFIB Leadership Council
