Missouri Improves Slightly, Illinois Struggles To Do Business Study Says
ST. LOUIS (KMOX) - CNBC has named America’s Top States for Business for 2013.
Missouri and Illinois did not prove to be the best places to do business in the United States.
Missouri saw slight improvement in 2013 finishing 26th overall, which was a slight bump from 27th a year ago. The Show Me state had only one top five finish which came in the Infrastructure & Transportation category. The state struggled in Workforce showing up at 48th out of the 50 states and 47th in Quality of Life. The Economy category moved 12 spots from 29th to 17th for Missouri.
Illinois posted the biggest decline, according to CNBC, falling 11 spots to 37th, after holding the 26th position a year ago. Heavy tax burden including one of the highest gasoline taxes in the country, along with high utility costs and relatively high wages, pushed Illinois into a tie for 44th place in Cost of Doing Business. The state finished 45th overall in the Economy category mostly due to the worst bond rating in the country, high unemployment and a poor housing market. Illinois, however, did land top five finishes in Infrastructure and Technology & Innovation.
South Dakota came out on top for 2013 with a point total of 1,639 out of a possible 2,500, which is the highest score logged by any state since CNBC began keeping the score in 2007, according to the report.
Texas, which has never ranked anything below second, according to CNBC, found itself behind the top state in second. North Dakota followed in third, after placing fifth last year, and Nebraska in fourth, improving from sixth place just a year ago. Utah and Virginia were second and third in 2012, respectively, but dropped to fifth overall, the first tie since the list began.
The 2013 study marks the first year in which neither Texas nor Virginia came out on top. Virginia was the top state in 2007, 2009 and 2011.
Hawaii was last on the list of 50 states.
The categories and point values for the competition included:
- Economy (375 points)
- Infrastructure (350 points)
- Workforce (300 points)
- Quality of Life (300 points)
- Technology & Innovation (300 points)
- Business Friendliness (200 points)
- Education (150 points)
- Cost of Living (50 points)
- Access to Capital (25 points)