Connecticut came in 42nd on Forbes’ annual “Best States for Business” list, while New York came in 29th.
Forbes’ list compiles its rankings on such factors as costs to do business, labor supply, quality of life, regulatory environment, economic climate and growth prospects.
Connecticut received below-average rankings in five out of six categories: business costs (41st); labor supply (33rd); regulatory environment (42nd); economic climate (42nd) and growth prospects (43rd). Its one high ranking (fifth) was for its quality of life.
New York ranked 36th in business costs; 31st in labor supply; 27th in regulatory environment; 15th in economic climate; 21st in growth prospects; and 24th in quality of life.
The state with the highest overall ranking was North Carolina, while West Virginia finished last.