Home About Archives RSS Feed

Really?

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
Adams-Cheshire Weighs Emergency Amendment for Cheshire School
Mount Greylock School Looking For Regionalization Vote This Fall
North Adams Eyes Tax Title Sales For Tax Relief, Engineering
Compass Rose to Be Painted at North Adams Airport In May
Muraca Buys Nuclea Assets, Starts New Company
BCC Students to be Inducted Into National Honor Society
Local Schools Receive Olmsted Awards from Williams College
Berkshires Beat: Humane Race Kicks Off Spring
Biz Briefs: Berkshire Money Management Moving to Dalton
Norman Rockwell Museum Receives Donation from Chubb Following Return of a Stolen Painting


Categories:
Economy (11)
Finance (4)
Marketing (17)
Sales (4)
Archives:
Tags:
Seminar Williamstown Deficit Custom Business Solutions Facebook Bigcommerce Unemployment Sales Search Engine Optimization Education Civil Liberties Entrepreneur Nobel Prize Marketing Public Safety Survey Chamber Of Commerce Budget Measure Ecommerce Books Small Business Marketing Financials Web Security Security Economy Seo Berkshire County Social Media Election Cnbc Massachusetts Berkshire Direct Advertising Cash Flow Analysis
Popular Entries:
JC Penney and "black hat" SEO
Easier and easier
Chamber Seminar: Email Marketing
Holy cow!
Why does "Tea Party" have to equal "Right Wing" or "extremist"?
What will the Berkshires look like in 20 or 25 years?
Nobel Prize in Economics Awarded for Theory on Why Unemployment Remains So High
Is anyone else feeling this way?
Leadership
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