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September 30, 2013

Forbes: Maine still worst state for business

For the fourth year in a row, Forbes magazine has ranked Maine as the worst state in the country for business.

In its latest listings, the magazine said that Maine’s aging population and weak economy, with low job growth projections, continue to hold the state in the last spot in the country.

The continued placement of Maine dead last in the Forbes ranking again rankled policymakers, who either view the listing as unfair or say it’s a sign that Maine needs to change economic policies.

Gov. Paul LePage said the dead-last ranking is again the fault of Democratic policies, while Democrats blamed the governor and Republicans, according to the Portland Press Herald.

The magazine said that a high corporate tax factored into the ranking again this year.

Economic development experts in the state, like Portland Regional Chamber CEO Chris Hall, said that the latest ranking doesn’t tell the full story. Dana Connors, president of the Maine State Chamber of Commerce, said the same, arguing that the ranking doesn’t take into consideration benefits of locating in the state like the quality of its people, products and places.

Filling out the five lowest-ranked states are, from the bottom, Mississippi, Rhode Island, Michigan and West Virginia.

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Forbes: Maine is second-worst state for business

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