Residents of New York, Vermont and New Jersey should not expect an economic boom in 2016, but Utahns, North Carolinians and North Dakotans can get ready for big economic growth.
That’s according to the new annual “Rich States, Poor States” report from the conservative American Legislative Exchange Council. The report looks at tax burdens, regulations and labor policy to predict every state’s economic outlook.
The top 12 states in the rankings have Republican governors, but some states under Democratic control are expected to do well also. Virginia comes in 13th, with Democrat Terry McAuliffe serving as its governor. Both chambers of its General Assembly are controlled by Republicans, however.
“States with lower taxes and fiscally responsible policies experience far more economic growth, job creation, and domestic in-migration than their high-tax, big government counterparts,” according to the report. “As states compete with each other for both investment and human capital, they are increasingly pursuing lower-tax, market-oriented policies that are closely associated with economic prosperity.”
The annual report is authored by Arthur Laffer, Stephen Moore with the conservative Heritage Foundation and Jonathan Williams, the vice president of the ALEC Center for State Fiscal Reform.
To find out where your state’s economic outlook ranks, take a look at the map below.
Jason Russell is a commentary writer for the Washington Examiner.
