July 11, 2018

CNBC: CT business climate ranked No. 37 in U.S.

Connecticut state Capitol in Hartford.

High costs and a slow-growing economy rank Connecticut's business climate among the 15 worst in the nation, according to a new study.

A "Top States for Business 2018" study by CNBC ranked Connecticut No. 37 among the 50 states. Connecticut's overall ranking fell in the annual survey by four spots from No. 33 in 2017.

The study measured the performance of U.S. states through 64 metrics across 10 categories. CNBC says it weighed grades for states based on the qualities businesses and lawmakers deem most important to luring business.

Connecticut received poor rankings for its infrastructure (47th), business costs (46th), economy (45th) and cost of living (43rd). The Nutmeg state was aided by its high education ranking (9th), workforce (16th), technology and innovation (17th) and access to capital (18th).

Under the study, Connecticut received modest scores for quality of life (22nd) and business friendliness (26th). The state dropped nine spots in workforce and improved in business friendliness by six.

Among New England states, Connecticut ranked ahead of Rhode Island and Maine (45th) and trailed Vermont (32nd), New Hampshire (24th) and Massachusetts (8th).

The top five states for business this year are Texas, Washington, Utah, Virginia and Colorado and the worst are Alaska, Mississippi, West Virginia, Hawaii and Rhode Island, according to the study.

View the rankings here

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