Forbes: Maine worst state for business
For the second year in a row, Forbes magazine has ranked Maine as the worst state for business.
The magazine blamed the state's energy costs, which are 31% above the national average, stagnant population growth and weak growth forecasts for job and gross state product. Maine ranked best in quality of life, at No. 17, and worst for growth prospects, at No. 50. The magazine develops its ranking using six business-related categories -- costs, labor supply, regulatory environment, current economic climate, growth prospects and quality of life -- with costs of labor, energy and taxes weighted the most heavily. The magazine has published the annual list for the past six years. While Maine has ranked close to the bottom every year, it came in last in 2010.
This year, Utah was named as the best state for business, followed by Virginia, North Carolina and North Dakota. Other states at the bottom include Michigan, Rhode Island and Hawaii.
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