State is 28th-best for business

(Sept. 12, 2006) According to a new study, Connecticut is the 28th-best state in the nation in which to do business. Virginia, Texas and North Carolina were the top three in the U.S.

“The Best States for Business,” a study by Moody’s Economy.com and published on Forbes.com, ranked all 50 states on 30 metrics in six main categories: business costs, economic climate, growth prospects, labor, quality of life and regulatory environment.

Connecticut’s highest ranking was for quality of life (#4). The state placed in the middle of the pack for prospects for growth (#23) and economic climate (#28).

But Connecticut fell behind in the rankings for business costs (#43).

The rankings generally matched the results of the 2006 Survey of Connecticut Businesses, which found executives in the state praising Connecticut’s high quality of life but decrying its high business costs.