Connecticut comes in a disappointing 40th in a special “State Competitive Index” put out annually by Suffolk University’ Beacon Hill Institute. The index is based on a broad array of factors such as government and fiscal policy, security, infrastructure, human resources, technology, business incubation, openness, and environmental policy. Connecticut’s neighbor to the north, Massachusetts, was ranked first.
“Massachusetts continues to capitalize on its endowment of human capital,” notes Frank Conte, project manager for the BHI report. “What’s noteworthy this year is that Texas, one of the largest states in terms of population is showing comparative strength in growing its personal income. How this holds up in the future given the decline in energy prices will be interesting to watch in the next few years. The Bay State faces high labor costs but other strengths allow it to overcome this disadvantage.”
According to a news release from BHI, “Policymakers often compare a state’s performance with that of “leading technology states (LTS).” However, these states do not always prove to be competitive. Massachusetts (1) Minnesota (5), Colorado (4), Texas (9) and Washington (10) are the only LTSs to finish in the top 10. Other LTS states ranked as follows: Virginia (12), North Carolina (13), New York (24), Connecticut (40), California (26), Pennsylvania (35), New Jersey (49).