With a one-year gross domestic product increase of 2.6 percent, Louisiana ranked second worst among the 50 states behind West Virginia for its environment for business, according to a report by a 24/7 Wall St. study released last month.
The website ranked states according to 42 measures including economic conditions, business expenses, infrastructure conditions, skilled worker availability, quality of life, regulatory framework, living costs and the state of technology.
In Louisiana, workers earn an average of $53,239 annually, according to the study. And 24.3 percent of state residents have a bachelor’s degree or greater.
Beginning a business venture is risky, according to 24/7 Wall St., with about 50 percent of all businesses going under in their first five years of operation. At the same time, the environments states create for businesses – involving factors such as tax codes and transportation infrastructures – can vary widely around the nation, the study found.
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Best States in Which to Do Business
| Rank | State | 1st-Year Real GDP Change | Average Earnings per Job | Adults With Bachelor’s Degrees | 2018 Venture Capital Deals (per 100,000 People) |
| 1 | Massachusetts | 3.10% | $75,637 | 44.50% | 9.6 |
| 2 | Utah | 3.70% | $52,364 | 34.90% | 3.4 |
| 3 | Colorado | 3.50% | $61,617 | 41.70% | 5 |
| 4 | Washington | 5.80% | $71,390 | 36.70% | 4.9 |
| 5 | North Dakota | 3.60% | $56,681 | 29.70% | 0.9 |
| 6 | North Carolina | 2.40% | $55,086 | 31.90% | 1.8 |
| 7 | Idaho | 4.00% | $47,812 | 27.70% | 1.5 |
| 8 | Virginia | 2.60% | $63,281 | 39.30% | 1.7 |
| 9 | Maryland | 2.50% | $68,242 | 40.80% | 2.3 |
| 10 | Wyoming | 0.10% | $55,122 | 26.90% | 0.9 |
| 11 | Vermont | 1.20% | $50,054 | 38.70% | 3.8 |
| 12 | Delaware | 0.00% | $61,817 | 31.30% | 5 |
| 13 | California | 4.30% | $73,815 | 34.20% | 7.7 |
| 14 | Connecticut | 0.50% | $75,497 | 39.60% | 2.5 |
| 15 | New Hampshire | 2.30% | $61,626 | 36.80% | 2.4 |
| 16 | Minnesota | 2.60% | $61,415 | 36.70% | 2.2 |
| 17 | South Dakota | 1.90% | $50,991 | 29.20% | 0.3 |
| 18 | Texas | 4.00% | $61,875 | 30.30% | 1.5 |
| 19 | Montana | 2.60% | $46,321 | 31.70% | 1.1 |
| 20 | Florida | 3.20% | $50,879 | 30.40% | 1.1 |
| 21 | Iowa | 2.20% | $52,556 | 29.00% | 1.1 |
| 22 | Georgia | 2.40% | $56,843 | 31.90% | 1.1 |
| 23 | Oregon | 3.80% | $58,347 | 34.00% | 2.4 |
| 24 | Arizona | 4.10% | $55,254 | 29.70% | 1.2 |
| 25 | New York | 1.20% | $79,182 | 37.20% | 5.4 |
| 26 | Nevada | 4.20% | $53,543 | 24.90% | 1.3 |
| 27 | Nebraska | 0.90% | $56,544 | 32.40% | 1 |
| 28 | Michigan | 2.50% | $57,748 | 29.60% | 1.1 |
| 29 | Alaska | 0.70% | $68,844 | 30.20% | 0.4 |
| 30 | Indiana | 2.00% | $55,600 | 27.10% | 1.4 |
| 31 | South Carolina | 2.60% | $50,893 | 28.30% | 0.8 |
| 32 | New Jersey | 2.20% | $71,228 | 40.80% | 1 |
| 33 | Tennessee | 3.10% | $56,656 | 27.50% | 1.2 |
| 34 | Wisconsin | 2.40% | $55,896 | 30.00% | 1.3 |
| 35 | Arkansas | 1.70% | $47,272 | 23.30% | 0.9 |
| 36 | Rhode Island | 1.20% | $58,670 | 34.40% | 2.2 |
| 37 | Kansas | 2.10% | $54,727 | 33.80% | 0.7 |
| 38 | Maine | 2.20% | $50,247 | 31.50% | 1.8 |
| 39 | Oklahoma | 2.60% | $54,282 | 25.60% | 0.3 |
| 40 | Pennsylvania | 2.60% | $63,578 | 31.80% | 2.1 |
| 41 | Ohio | 1.90% | $57,319 | 29.00% | 1.3 |
| 42 | Illinois | 2.10% | $66,044 | 35.10% | 2 |
| 43 | Kentucky | 1.40% | $50,682 | 24.80% | 0.9 |
| 44 | Alabama | 2.80% | $50,165 | 25.50% | 0.5 |
| 45 | Missouri | 2.40% | $54,349 | 29.50% | 1.1 |
| 46 | Mississippi | 1.30% | $43,769 | 23.20% | 0.2 |
| 47 | New Mexico | 2.50% | $49,530 | 27.70% | 0.9 |
| 48 | Hawaii | 2.40% | $59,573 | 33.50% | 0.4 |
| 49 | Louisiana | 2.60% | $53,239 | 24.30% | 0.2 |
| 50 | West Virginia | 2.30% | $51,099 | 21.30% | 0.1 |
Source: 24/7 Wall St.
This is a revised article first published by The Center Square.
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