Were you wondering about where your state is headed economically? Well, a new report from the American Legislative Exchange Council can shed some light on that for you. Depending on where you live, this could come as either welcome good news, or a hint that it’s time to move.
The seventh annual “Rich States, Poor States” analysis ranks states by economic performance as well as economic outlook. Not surprisingly, Texas has the best economy out of all 50 states.
New York was awarded the worst economic outlook for the year 2014. Could it be because many conservative New Yorkers are now migrating elsewhere after the derogatory statements made by Governor Cuomo? We can only speculate.
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American Legislative Exchange Commission Director Jonathan Williams said in a statement:
“The big story in our report this year is that fundamental tax and fiscal policy reforms significantly improved the economic competitiveness rankings of North Carolina, Indiana, and Michigan. These states are now better poised to realize real economic growth.”
“Rich States, Poor States”, which was co-authored by former Reagan economic adviser Arthur Laffer and Heritage Foundation chief economist Stephen Moore, ranks states by analyzing 15 key factors. Among those factors were tax rates, regulation, labor policies and employment figures.
(See Also: How Ugly Is Your State?)
Take a look at the report’s Top 10 in each category listed below:
The Top 10 Best Economic Performance
4. North Dakota
Bottom 10 Worst Economic Performance
47. Rhode Island
48. New Jersey
Top 10 Best Economic Outlook for 2014
2. South Dakota
4. North Dakota
6. North Carolina
Bottom 10 Worst Economic Outlook for 2014
41. Rhode Island
45. New Jersey
50. New York
So, how did your state stack up? Let us know in the comments section!
H/T: The Blaze