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May 2008 — Vol. 86, No. 4

Connecticut by the numbers

 

Overall cost of doing business:

  • 3rd highest in U.S. (CNBC)
  • 4th highest (Moody’s Economy.com)
  • 5th highest (Milken Institute)

Workers’ compensation costs:

  • 9th highest (Actuarial and Technical Solutions annual report, 2007; comparison of 45 states)

Unemployment compensation rate:

  • 16th highest (U.S. Department of Labor yearly comparison of average employer contribution)

Energy costs:

  • 49th highest electricity rate (Energy Information Administration)

Small Business Survival Index:

  • 38th in U.S. (The Small Business and Entrepreneurship Council; includes Washington, D.C.; index consists of 31 different measures, including government, environmental, operating and regulatory costs)

Taxes:

  • 12th worst business tax climate (The Tax Foundation; measures included corporate taxes, individual income taxes, sales taxes, unemployment taxes and property taxes)
  • 8th highest state and local tax burden (The Tax Foundation, using Bureau of Economic Analysis and Department of Commerce data)

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