There are many factors that determine a state’s overall economic performance. Take our 6 question survey and tell us: how does your state stack up?
Select a State Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District Of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming
We rated state performance based on overall job growth from 2002-2012, with special attention to the years 2010-2012. We also examined growth in gross domestic product (GDP) as well as per capita personal income.
When it comes to job growth and per capita income, how would you rate your state’s overall economic performance today?
With 95% of the world’s customers now living outside our borders, trade with other countries is a key part of our economy that will continue to be important long into the future. To determine the strength of each state’s exports, we looked at exports as a share of the gross state product (GSP), and state export growth from 2002-2011.
How would you rate the condition of your state’s export economy?
Fostering an enterprise-friendly business environment involves a tax and regulation environment that allows for owners to continuously innovate without burdensome costs and onerous delays. For each state, we looked at the tax environment (for both newer and older firms), the cost of living, as well as the general rate of establishment closures.
When it comes to taxes and regulation, what quality of environment does your state provide for businesses?
To determine whether innovation and entrepreneurship are being supported in each state, we looked at the following: the percentage of growth in science, technology, engineering, and mathematics (STEM) jobs; the number of high-tech businesses; and the proportion of funds allocated to academic research and development as a share of the gross state product (GSP).
When it comes to innovation and entrepreneurship, how do you see your state performing?
Is your state promoting education, workforce development and entrepreneurial mentoring to continually fill the talent pipeline? For each state, we examined the number of degrees awarded per resident age 18-24, the percentage of undergrad tuition as a share of disposable income, and the percentage of high school seniors taking an AP exam in 2011.
How do you feel your state is doing when it comes to managing its ‘talent pipeline?’
Investing in infrastructure that meets the operating requirements of business and connects businesses to markets and customers is critical. We looked at each state’s overall road and bridge quality as well as the number of households that have access to standard broadband Internet.
In what condition is your state’s physical and technological infrastructure?
(That places it what others surveyed said about the state.)