Louisiana ranked the second worst state to do business in U.S.

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.

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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