Tag: state economies

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Ranking the States

The American Legislative Exchange Council (ALEC) has released its annual ranking of the fifty states.

According to ALEC, “The 2015 economic outlook ranking is a forward-looking measure of how each state can expect to perform economically based on 15 policy areas that have proven, over time, to be the best determinants of economic success.”

The five states with the best prospects are Utah, North Dakota, Indiana, North Carolina and Arizona. The five with the worst prospects are Oregon, New Jersey, Connecticut,  Minnesota,  Vermont and New York.

From best to worst, here are ALEC’s state rankings:

1 Utah 2 North Dakota 3 Indiana 4 North Carolina 5 Arizona 6 Idaho 7 Georgia 8 Wyoming 9 South Dakota 10 Nevada 11 Texas 12 Virginia 13 Wisconsin 14 Alaska 15 Florida 16 Oklahoma 17 Tennessee 18 Kansas 19 Alabama 20 Mississippi 21 Colorado 22 Arkansas 23 Ohio 24 Michigan 25 Iowa 26 Louisiana 27 Missouri 28 Massachusetts 29 New Hampshire 30 Kentucky 31 Nebraska 32 South Carolina 33 Maryland 34 New Mexico 35 Washington 36 West Virginia 37 Hawaii 38 Delaware 39 Rhode Island 40 Illinois 41 Pennsylvania 42 Maine 43 Montana 44 California 45 Oregon 46 New Jersey 47 Connecticut 48 Minnesota 49 Vermont 50 New York

The policy areas include the top marginal personal income tax rate, top marginal corporate income tax rate, personal income tax progressivity, property tax burden, sales tax burden, remaining tax burden, existence of estate/inheritance taxes, recently legislated tax changes, debt service as a share of tax revenue, public employees per 10,000 of population, state liability system survey, state minimum wage, average workers’ compensation costs, right to work legislation, and the number of tax expenditure limits.

CNN Money http://money.cnn.com/interactive/economy/state-unemployment-rates/ compared unemployment ratings in the states.  From best to worst:

     
1 NORTH DAKOTA
2 NEBRASKA
2 UTAH
4 SOUTH DAKOTA
4 VERMONT
6 HAWAII
6 NEW HAMPSHIRE
6 WYOMING
9 IOWA
9 MINNESOTA
11 MONTANA
11 OKLAHOMA
13 IDAHO
14 KANSAS
15 TEXAS
16 COLORADO
17 LOUISIANA
17 VIRGINIA
19 MAINE
20 MASSACHUSETTS
20 WASHINGTON
22 OHIO
22 PENNSYLVANIA
22 SOUTH CAROLINA
25 WISCONSIN
26 INDIANA
27 MARYLAND
28 ARKANSAS
28 DELAWARE
28 FLORIDA
31 WEST VIRGINIA
32 ALASKA
32 MISSOURI
32 NEW JERSEY
32 NORTH CAROLINA
36 CONNECTICUT
36 NEW MEXICO
36 NEW YORK
39 ILLINOIS
40 OREGON
41 ALABAMA
41 ARIZONA
43 TENNESSEE
44 CALIFORNIA
44 DISTRICT OF COLUMBIA
44 KENTUCKY
47 MICHIGAN
47 NEVADA
47 RHODE ISLAND
50 GEORGIA
51 MISSISSIPPI

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Boom in Energy Spurs Industry in the Rust Belt

This article was submitted by Ted Flint, a radio commentator with significant experience in state legislative affairs

“A Real Game Changer,” read the headlines in a recent edition of the New York Times. A dramatic surge in domestic oil production is transforming the economies of many states across the country. This seismic shift in the fortunes of these once decaying states is directly attributed to hydraulic fracturing: horizontally drilling thousands of feet below the earth’s surface to extract natural gas deposits trapped in shale.

35 states allow ‘fracking’ and the economic turnaround in many of these states has been significant. Pennsylvania, Ohio, the Virginias and more than 30 others are reaping the benefits of the boom.

Why do some states refrain from taking advantage of this bonanza?  Consider a prime example: New York.

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Opponents of ‘fracking’ have conveyed the demonstrably incorrect belief that the process contaminates ground water and exposes residents to air pollution. There is a growing body of evidence that debunks this assertion. According to a recent column by Chris Faulkner, CEO of Breitling Energy Corp., and author of “The Fracking Truth,” Pennsylvania’s Department of Environmental Protection monitored numerous fracking sites across the state and found that nearby levels of carbon monoxide, nitrogen dioxide, sulfur dioxide and other key pollutants did not exceed federal air quality standards. Similar studies were done in Texas and West Virginia and they reached the same conclusion: oil and gas operations do not endanger air quality.

The issue for the Left has never been about fear of groundwater contamination, because there has never been one incident when that has happened, it’s all about reducing consumption in order to “save the planet.” If gas prices were under two dollars a gallon (where they were when George W. Bush left office) Americans would have more disposable income and could spend their hard-earned dollars on things other than transportation.

The scientifically wrong position taken by environmental extremist’s is harming not only the American consumer, but Europeans as well.  Due to the limited supply from the U.S., Moscow, with its abundant resources, has been able to blackmail European nations who require Russian energy for their economic survival.