Home About Archives RSS Feed


Allen Jezouit, @BerkshireCountyBusiness

Massachusetts Ranked #5 in CNBC's Top States for Business 2010!

Can you imagine? Massachusetts was ranked #5 in CNBC's recent survey of the top states for business in 2010. While it should come as no surprise that the top four are:

1) Texas (1508 points)
2) Virginia (1477)
3) Colorado (1456)
4) North Carolina (1381)

I have to admit that as a small business owner who consults with a lot of other small businesses I am stunned about Massachusetts earning a #5 ranking, up from #8 in 2009 and #12 in 2007. To hear most people talk, Massachusetts is one tough place to do business. How did it happen?

Let's dig into the numbers a bit. According to CNBC.com, the states are ranked on 40 different metrics in 10 key categories. The maximum score possible is 2,500. #1 Texas scored 1,508 while Massachusetts scored 1,375. Although Massachusetts ranked relatively low in such areas as Cost of Doing Business (#39 out of 50), Transportation & Infrastructure (#39), and Cost of Living (#40), we ranked very well in such areas as Education (#1), Access to Capital (#2), Technology & Innovation (#3), and Quality of Life (#6).

Berkshire County's neighboring states certainly do not fair was well. New York is ranked #24, Connecticut is #35, and Vermont is #37. However, New York was second only to Pennsylvania in terms of year over year improvement in overall rank. Pennsylvania moved up from #33 in 2009 to #20 in 2010, while New York improved 12 spots from #36 to #24. PA's Economy improving from #37 to #15 fueled their big move. Likewise New York's economy improving from #20 to #2 drove their big gain in overall rank. At the other end of the spectrum, Vermont was the biggest decliner in 2010 versus 2009, falling seven spots from #30 to #37.

Looking at the specifics of how NY, CT, and VT faired ... New York is ranked #50 in Cost of Doing Business, #49 in Workforce, #45 in Business Friendliness, and #43 in Cost of Living. Those 4 low scores really hamper New York's ability to compete. Connecticut is #47 in Cost of Doing Business and #45 in Cost Living. Vermont went from #35 in 2009 to #42 in 2010 for the Cost of Doing Business factor and from #36 to #40 on Access to Capital which contributed to the decline in their overall ranking.

The rest of the Northeast/New England struggles, too. New Hampshire is overall #19, Maine is #39, and Rhode Island is #49 (ouch!), making Massachusetts truly the jewel of the Northeast. So, while it is expensive to do business here, you get what you pay for:

- an educated workforce who enjoy the quality of life they get here

-a tradition of incubating innovative, high-tech companies in and around our world-leading education institutions

- banks willing to finance the innovation.

Let's hear it for Massachusetts!

Tags: massachusetts, entrepreneur, cnbc      
News Headlines
6th Annual Cop On Top Returns To Pittsfield Walmart This Weekend
Pittsfield Fires Police Union President For 'Misconduct'
Holiday Cards Support CATA Artists With Disabilities
Berkshire Tidbits: Time for Hanukkah, Christmas Foods
YMCA Hosts Free Youth Snowboarding Program
Ohio Baptists Erecting Monument in Cheshire to John Leland
Williamstown Elementary Again Closed by Heating Issue
North Adams Happenings: Nov. 25-Dec. 3
Cultural Pittsfield This Week: Nov. 27-Dec. 3
North Adams Housing Authority Sells Flood House

Economy (11)
Finance (4)
Marketing (17)
Sales (4)
Budget Marketing Custom Business Solutions Massachusetts Public Safety Berkshire Direct Measure Search Engine Optimization Advertising Civil Liberties Cash Flow Analysis Economy Berkshire County Sales Web Security Small Business Marketing Seo Ecommerce Financials Election Education Cnbc Chamber Of Commerce Williamstown Survey Seminar Facebook Books Unemployment Security Bigcommerce Social Media Deficit Entrepreneur Nobel Prize
Popular Entries:
JC Penney and "black hat" SEO
Easier and easier
Why does "Tea Party" have to equal "Right Wing" or "extremist"?
Chamber Seminar: Email Marketing
Holy cow!
Nobel Prize in Economics Awarded for Theory on Why Unemployment Remains So High
What will the Berkshires look like in 20 or 25 years?
Is anyone else feeling this way?
Invade my privacy all you want
Recent Entries:
Chamber Seminar: Email Marketing
That didn't take long
Holy cow!
JC Penney and "black hat" SEO
Easier and easier
Chamber Seminar on eCommerce
Gotta love 2011 so far!
Mass., NY could lose more seats in Congress
The 12 Days of Holiday Revenue Maximization for Your Online Store
5 New Online Services Perfect for Small Businesses