Forbes.com has released its second annual Top States for Business report, and the news is horrible for Wisconsin. Wisconsin ranks
#44 on the list of the best states for business. Wisconsin’s 2006 rank was
#39.Forbes.com rated the states on six different criteria: business costs, labor, regulatory environment, economic climate, growth prospects, and quality of life.
Here is how Wisconsin ranked in each of the six categories:
1) Business Costs- Wisconsin ranks #34. This index is based on cost of labor, energy and taxes.
2) Labor-Wisconsin ranks #38. This index measures educational attainment, net migration and projected population growth.
3) Regulatory Environment- Wisconsin ranks #44. This index measures regulatory and tort climate, incentives, transportation and bond ratings.
4) Economic Climate-Wisconsin ranks #38. This index reflects job, income and gross state product growth as well as unemployment and presence of big companies.
5) Growth Prospects-Wisconsin ranks #33. This index reflects projected job, income and gross state product growth as well as business openings/closings and venture capital investments.
6) Quality of Life-Wisconsin ranks #8. This is an index of schools, health, crime, cost of living and poverty rates.The data is clear. Despite the fact Wisconsin is a great place to live, as evidenced by our high quality of life, the environment for business is toxic. Wisconsin taxes and spends too much, the state over-regulates, our income growth rate is one of the lowest in the country, and the brain drain is costing us many of our best and brightest workers.
The Forbes.com report is another wake-up call to Wisconsin to take dramatic measures to significantly improve our business climate, which continues to be
abysmal.How did surrounding states fare? Minnesota ranks #10, Iowa ranks #24, Indiana ranks #27, Ohio ranks #38, Illinois ranks #40, and Michigan ranks #46.
Here is the
Forbes.com story and the table showing
the ranking of all 50 states.
