CNBC itself didn’t expect Massachusetts to break into the top 5 for the first time in its annual survey of the top states for business. CNBC’s reporter declared that MA’s presence in the top 5 “was a bit of a surprise to me, quite frankly,” and the story on the website starts off:
One of the surprises in CNBC’s 2010 edition of America’s Top States for Business may be that Massachusetts cracked the top five for the first time. The state only made the top ten one other year (2009) and until then had only finished as high as 15 (2008).
Interesting that MA’s three highest finishes ever have been under Deval Patrick’s governorship. Sorry, Charlie. 😉
Anyway, the factors are more or less what you’d expect: costs of doing business (high wages, high rents, and high utility costs were mentioned – not, interestingly, an especially high tax burden) and the cost of living remain relatively high (MA ranked #39 and #41 respectively), but MA’s rankings in education (#1), access to capital (#2), and technology and innovation (#3), as well as quality of life (#6), pushed us to #5 overall.
You can watch the CNBC report here: