CNBC: R.I. third-worst state for business

PROVIDENCE – Rhode Island is the third-worst state for businesses, according to a CNBC study.

The poor ranking is still an improvement for the Ocean State when compared to 2014’s last-place standing.

Rhode Island’s best score was in quality of life, where it ranked 12th, jumping seven spots from last year. It also ranked high for education at 13th, a five-spot improvement. It came in last for infrastructure, however, and 45th for business friendliness and access to capital. Cost of doing business placed it at 44th.

In its ninth year, the study rates states on more than 60 measures of competitiveness using publicly available information to determine the best ones for businesses. Workforce, cost of doing business, economy, business friendliness, cost of living, technology and innovation, and access to capital are all taken into account.

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According to CNBC, Minnesota is the best state for businesses, followed by Texas, Utah, Colorado and Georgia. Hawaii was named the worst state for businesses.

Among New England states, Massachusetts ranked highest at 20th, followed by New Hampshire at 30th, Connecticut at 33rd, Vermont at 42nd and Maine, 44th.

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