WYOMING - Wyoming ranks 8th for its economic competitiveness, improving its ranking from last year, according to the newest edition of the Rich States, Poor States report released by the American Legislative Exchange Council. Utah earned the top spot for states with the best economic outlook in 2015, followed by North Dakota, Indiana, North Carolina and Arizona.
“Once again, Wyoming’s economic outlook is one of the strongest in the nation. In Wyoming, we put our citizens first by not taxing their hard-earned income,” said Wyoming ALEC chairman State Representative Norine Kasperik.
“Wyoming’s economic competitiveness ranks in the national top ten again this year. By not levying a tax on personal or corporate income, Wyoming provides its citizens with greater economic opportunities,” said Jonathan Williams, Vice President, Center for State Fiscal Reform at the American Legislative Exchange Council and co-author of Rich States, Poor States: ALEC-Laffer State Economic Competitiveness Index.
The 15 economic policy variables used by the authors to rank the economic outlook of states have shown over time to be among the most influential variables for state growth. The top ten and bottom ten states for 2015 are:
Overall Economic Outlook for 2015
2. North Dakota
4. North Carolina
9. South Dakota
46. New Jersey
50. New York
Rich States, Poor States examines the latest trends in state economic growth. The data ranks the 2015 economic outlook of states using 15 equally weighted policy variables, including various tax rates, regulatory burdens and labor policies. The eighth edition examines the trends over the last few decades that help or hurt states’ rankings, and states with low tax rates and right-to-work laws are more likely to have a better economic outlook.
Used by state lawmakers across America since 2008, Rich States, Poor States: ALEC-Laffer State Economic Competitiveness Index, is authored by economist Dr. Arthur B. Laffer, Heritage Foundation Chief Economist Stephen Moore and Jonathan Williams, Vice President of the Center for State Fiscal Reform at ALEC.
To download a copy of Rich States, Poor States and to see individual state data, visit www.alec.org/rsps.
The American Legislative Exchange Council is the largest nonpartisan, voluntary membership organization of state legislators in the United States. The Council is governed by state legislators who comprise the Board of Directors and is advised by the Private Enterprise Advisory Council, a group of private, foundation and think tank members. For more information about the American Legislative Exchange Council, please visit: www.alec.org.