Virginia ranks third in “Rich States, Poor States” study
- April 12, 2012
Virginia was ranked as the third-best state in the country for its economic outlook in a report released Thursday by the American Legislative Exchange Council. In its fifth edition of
“Rich States, Poor States: ALEC-Laffer State Economic Competitiveness Index,” Virginia outperformed other states on economic policy based on a ranking that uses 15 equally-weighted variables in the areas of tax, labor, and regulatory policy.
The Washington, D.C.-based ALEC is a nonpartisan individual membership organization of state legislators that favors federalism and conservative public policy solutions.
“In Virginia we are constantly working to control taxes, reduce regulation and promote economic creativity. Rich States, Poor States shows that these pro-growth initiatives translate into a thriving business community and a high standard of living for our citizens,” William Howell, the Speaker of the House for the Virginia General Assembly, said in a statement.
Compared to 2010, Virginia moved up three slots in 2011, from No. 8 to No. 3 in its economic outlook. It ranked No. 8 in economic performance, which considered personal income per capita, domestic migration, and non-farm payroll. The top five and bottom five states are listed below:
TOP FIVE STATES BOTTOM FIVE STATES
1. Utah 46. Hawaii
2. South Dakota 47. Maine
3. Virginia 48. Illinois
4. Wyoming 49. Vermont
5. North Dakota 50. New York