How Does CT Fare in Business Competitiveness? Not Too Good, Says This Report

When it comes to business competitiveness, Connecticut is not a state that many companies might want to move to, according to a recent report, America's Top States for Business 2016, by business network CNBC.

In fact, the Constitution State is not among the top half of states when it comes to business competitiveness. Connecticut is ranked 43rd, only Louisiana (#44), Alaska (#45), Maine (#46), Mississippi (#47), West Virginia (#48), Hawaii (#49), and Rhode Island (#50) are considered worse.

"High costs and poor infrastructure hinder the Nutmeg State, but it scores high in innovation and quality of life," writes CNBC.

The business network looked at several criteria in coming up with its ranking, such as:

• Workforce
• Cost of Doing Business
• Infrastructure
• Economy
• Quality of Life
• Technology & Innovation

To read the full methodology click here. "Our study is not an opinion survey. We rely on tangible numbers to gauge each state's performance, scoring all 50 states on more than 60 measures of competitiveness, using publicly available data," CNBC writes.

Connecticut's best categories are Workforce (#18 overall), Education (also 18th), Technology & Innovation (tie for 19th), Quality of Life (25th) and Access to Capital (also 25th). But the state suffers with rankings in the 40s in Cost of Doing Business, Infrastructure, Economy and Cost of Living.

By comparison, the top states for business? Utah (#1), Texas (#2), Colorado (#3), Minnesota (#4), North Carolina (#5), Washington (#6), Michigan (#7), Georgia (#8), Iowa (#9) and Florida (#10).

To view the full report, America's Top States for Business 2016, click here.

Image via Shutterstock