By Dee DeQuattro, WPRO News
Rhode Island is not the worst state for business according to Forbes Magazine, Maine is but RI is a close second.
Rhode Island falls just behind Maine on the business ranking list coming in at number 49. Unfortunately Rhode Island dropped down one spot since the 2011 rankings where the Ocean State was ranked 48 for business.
According to Forbes, Rhode Island has experienced the second worst migration in the country after Michigan as residents leave in search of jobs.
Forbes also says Rhode Island has a “lousy regulatory climate.” Forbes points to Rhode Island’s “labor market freedom” and “health insurance regulations” as examples.
The study does not ignore the 38 Studios debacle noting that RI took a “public beating.”
The ranking is based on six factors business costs, labor supply, regulatory environment, current economic climate, growth prospects, and quality of life.
Also trailing the list behind Rhode Island are Hawaii #48, Michigan #47, Mississippi #46, and West Virginia #45.
