Frank Conte, Communications
releases Metro Area and State Competitiveness Report 2006
the third year in a row, The Beacon Hill Institute has found
that Massachusetts outranks all other states in terms of its
economic competitiveness. Despite persistent worries about
population loss, the threat to its high tech base and high
housing costs, 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 over the long term. It reaches this finding in its
6th annual State Competitiveness Report, released today.
Massachusetts continues to rank number one for economic
competitiveness. According to its latest study, entitled State
Competitiveness Report 2006, the Bay State leads the nation
across a broad variety of economic indicators. Two states
that finished second and third last year, Utah and New Hampshire,
also ranked second and third this year.
Institute defines competitiveness as the policies and
conditions that ensure and sustain a high level of per capita
income and its continued growth. The 2006 Report assigns
42 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
continued strong showing is sure to confound the pessimists
among us, said David G. Tuerck, BHI Executive Director.
But the facts are clear: on key measures the Commonwealth
is fundamentally strong. He added, Dwelling on
the bad news based on one or two economic indicators such
as the high cost of housing or the loss of population is certainly
missing the forest for the trees. Diverse in its economic
makeup, Massachusetts continues to be an attractive place
to live and work. Other states would be wise to look at our
rises to the top based on its competitive advantages in technology,
business incubation, human resources and openness. For all
seven indicators comprising the technology subindex, Massachusetts
was in the top five states. These strengths more than offset
areas in which the state performs poorly for example,
infrastructure and government policy.
North Dakota, Idaho and Wyoming, Minnesota, South Dakota and
Virginia rounded out the top 10 this year. The report shows
that even so-called rural states such as North Dakota, South
Dakota, Idaho and Wyoming can be competitive. These states
benefit from strong infrastructure and environmental policy
ratings as well as adequate openness, business incubation
and human resources. In contrast Missouri and Maryland dropped
dramatically compared to last years ranking. Missouri
dropped 14 spots to 31st due to increases in crime and pollution..
Meanwhile, Maryland dropped 13 places to 23rd primarily because
of an increase in travel time to work and higher than nationwide
average increase in prices for electricity.
published this years Competitiveness Report in conjunction
with Suffolk Universitys Centennial celebration. BHI
will release the complete 2006 report that includes rankings
of the top 50 Metropolitan areas in the United States in late
Press Release file with Tables
Report in PDF
12/19/2006 8:18 AM
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