Due to an input error the State Competitiveness Report 2005
rankings were revised in January 2006. We regret any inconvenience
this may have caused. The press release below reflects the
revisions. The metro rankings were released in May 2006.
Frank Conte, Communications
releases Metro Area and State Competitiveness Report 2005
the second year in a row, The Beacon Hill Institute has found
that Massachusetts outranks all other states in terms of its
economic competitiveness. For the first time, the Boston metropolitan
area ranks number one. Despite population loss and slow job
growth for the region and the state at large, the states
economic fundamentals are strong, making it the state most
able to sustain a high standard of living for its residents
and best equipped to enjoy economic growth.
- Massachusetts and the Boston metropolitan region rank number
one for economic competitiveness. According to a new study,
Area and State Competitiveness Report 2005, and just released
by the Beacon Hill Institute at Suffolk University in Boston,
Massachusetts leads the nation for its strength across a broad
variety of economic indicators while the Boston region leads
the metro ranking.
found itself in the top position for the second straight year.
Boston finished first after last year's fourth place finish.
the state ranking, Utah finished second while New Hampshire
ranked third, improving from its 7th place ranking in 2004.
Louisiana finished last. The Los Angeles metropolitan area finished
last due to its poor performance in several broad measures.
The Institute defines competitiveness as "the policies
and conditions that ensure and sustain a higher level of per
capita income and its continued growth."
2005 Report assigns more than three dozen variables to eight
categories - government and fiscal policy, security, infrastructure,
human resources, technology, business incubation, openness,
and environmental policy - and combined these eight measures
into a single "competitiveness index".
year's report should go a long way toward dispelling recent,
gloomy assessments of the state's economy," said David
G. Tuerck, BHI Executive Director. "Looking at just one
or two economic indicators can, as we see, prove misleading.
Despite slow job growth and population loss, Massachusetts
continues to be an attractive place to live and work. In fact,
chambers of commerce and planners across the nation should
look to Massachusetts as a role model for economic competitiveness."
and Boston rise to the top based on its competitive advantages
in technology, business incubation, human resources and openness.
These strengths more than offset areas in which the state
is weak: infrastructure and environmental policy.Colorado,
Maryland, Minnesota and Washington are high-tech states that
continue to challenge Massachusetts' competitiveness.
New Hampshire benefits from its ability to attract and cultivate
human resources (highly-educated workers), security (low-crime)
as well as its ability to export its products and services.
New Hampshire also improved its performance for the government
and fiscal policy measure.
Boston in this year's ranking are the metro areas of Raleigh,
Seattle, Denver, Austin, Minneapolis, Portland, Washington
D.C. Salt Lake City and Charlotte. With the exception of Tennessee
and Washington D.C. most of the metro areas are in states
that also did well in BHI's state competitive rankings.
report shows that so-called "red" and "blue"
states are equally likely to be competitive (or uncompetitive).
is the fifth year
that BHI has published a Competitiveness Report. All competitiveness
reports will be available at www.beaconhill.org. The 2005
report is here.
09/21/2006 4:31 PM
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