Forbes Ranks Vermont 48th for Business Climate

by Rob Roper

As the legislature plans its agenda for the 2018 session, our elected leaders might consider addressing some of the issues highlighted by the business magazine, Forbes, regarding our economic situation. Out of the fifty states, Forbes ranks Vermont 48 for business climate. Only Alaska and West Virginia project a more dismal future than we do.

Among the categories the magazine looked at, Vermont ranked 47th for business costs, 44th in regulatory environment, 44th in economic climate, and, most worrisome, 49th in growth prospects. The “bright spots” for our state were middling scores in labor supply (28th) and quality of life (23rd). That poor score on quality of life for Vermont, where we usually score in the top ten, was a bit of a shocker.

The report also notes that the cost of doing business in Vermont is 12 percent above the national average, our job growth rate for 2017 was just 0.9 percent, and our net migration in 2016 was -1900.

From the report:

At $31 billion, Vermont has the smallest economy in the U.S. Its five-year average unemployment rate of 4% was the fourth lowest among states, but Vermont suffers from business costs that are 12% above the national average. The state’s economic outlook is also weak—projected to be the second worst in the U.S. over the next five years. Income growth is also expected to badly lag the rest of the country. 

The policies and Progressive political philosophies of the past several decades have put us in this mess. Getting out will require a very different mindset and priorities. It can be done. In just a few political cycles, North Carolina has reformed its tax and regulatory environment dramatically. Forbes now lists it as the Number One state for business.

Rob Roper is president of the Ethan Allen Institute.

{ 0 comments… add one now }

Leave a Comment

Previous post:

Next post:

About Us

The Ethan Allen Institute is Vermont’s free-market public policy research and education organization. Founded in 1993, we are one of fifty-plus similar but independent state-level, public policy organizations around the country which exchange ideas and information through the State Policy Network.
Read more...

Latest News

Condos Still Misinformed/Misinforming About Residency Requirements

by Rob Roper A recent Op-Ed back and forth between Secretary of State Jim Condos and Deb Bucknam, the attorney who prevailed in the Victory, Vermont, vote fraud...

Nuclear phase out threatens greenhouse gas goals

April 20, 2018 by John McClaughry The news site Axios recently published an article about a report from the think tank Third Way. It looked at the effect of...

Vermont’s “Taking Game” and Universal Background Checks

April 19, 2018 by John Klar At times, government rightly employs the power of eminent domain to “take” property – for railroads, roadways, prisons, power plants, etc. But...

A Fair Way to Tax Internet Sales

April 18, 2018 by Rob Roper The Supreme Court is hearing arguments about if and how we should tax sales made over the internet. As of now, retailers...

Bernie Sanders: Too Big And Failed

April 16, 2018  by Chris Campion A couple of weeks back, Communism’s own Bernie Sanders took time out of his failed presidential bid to sit down with Jake...

Video