Mississippi climbed up one spot in an annual “Top States for Business” ratings by business news television network CNBC this week, but stayed in the bottom five with a designation as the nation’s 46th-ranked state for business.
Texas claimed the top spot from previous Number One Virginia, which fell to a third place ranking. With North Carolina at Number Four, the South took three of the five top spots. Utah (2) and North Dakota (5) rounded out the business news network’s top five. Georgia made the Top 10 with a Number Nine ranking.
Making up the bottom five were Mississippi (46), Alaska (47), West Virginia (48), Hawaii (49) and Rhode Island (50).
Mississippi remained in the bottom five despite overhauls of tort law and workman’s compensation regulations in recent years that shifted the rules in favor of businesses. In fact, the survey awarded the state a ranking of 44 in the category of “Business Friendliness,” though the ranking did represent a one step improvement from last year’s 45.
In describing its “Business Friendliness” assessments, CNBC said “regulation and litigation are the bane of business. Sure, some of each is inevitable. But we graded the states on the perceived ‘friendliness’ of their legal and regulatory frameworks to business.”
While The Magnolia State scored well in categories such as the “Cost of Doing Business” ( with a ranking of 18), “Workforce” (20) and “Cost of Living” (8), it fared poorly in such categories as “Quality of Life” (41), “Economy” (48), “Education” (44), “Technology and Innovation” (42), “Business Friendliness” (44), and “Access to Capital” (48).
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