New Study: Connecticut 4th Worst State for Fiscal Health
In a study just released by George Mason University’s Mercatus Center, Connecticut ranked 47th out of 50 states in fiscal health.
To clarify: We’re worse than New York and Rhode Island and far behind states such as Florida (#5) and Missouri (#14) that have recently poached Connecticut jobs.
Only Massachusetts, New Jersey, and fiscal basket case Illinois trail the Nutmeg State.
The study ranked states for cash and budget solvency as well as long-run fiscal condition, ability to pay for services, and trust fund solvency.
Poor fiscal conditions place a burden on future taxpayers and create uncertainty that could impact business planning decisions.
Only 16 of the states were rated positively, but Connecticut is conspicuously among the worst.
The Mercatus Center’s ranking is just one of many that measure and compare the states on matters ranging from economic competitiveness to quality of life, education, and workforce productiveness.
Just two weeks ago, Connecticut jumped 13 places — from 46th to 33rd — in this year’s CNBC America’s Top States for Business rankings based on a top-drawer workforce and an improving economy.
“It turns out that Connecticut has some definite strengths,” said CNBC, “and those strengths play directly to what businesses are looking for most these days.”
This year, CNBC switched its ranking focus away from measuring the cost of doing business in the states to the strength of their skilled workforce. That change resulted in Connecticut pole-vaulting all the way up to 33rd after last year’s discouraging showing at 46th.
CBIA is a founding member of CT20X17: a nonpartisan coalition of residents, associations and businesses working together to drive public policies that strengthen the state’s economy, with the goal of driving Connecticut into the top 20 states for economic competitiveness by 2017.
Connecticut performs well in some rankings, and as this latest study from the Mercatus Center suggests, not so well in others. To see how we’re working to leverage our strengths to help #MoveCTUp, visit www.ct20x17.org.
EXPLORE BY CATEGORY
Stay Connected with CBIA News Digests
The latest news and information delivered directly to your inbox.