Washington state is bad for business? Think again because Puget Sound Business Journal says “it’s actually the best, according to a new ranking.” As the article describes, “while Seattle is sometimes pegged as being bad for business due to regulations and taxes, Washington had economic growth nearly 2.5 times the national rate” at 3.7% in 2016, and according to the latest CNBC rankings, which measure 66 metrics across 10 categories, the Evergreen State is now the number one state for business.
Having breached the top 10 for the past few years, Washington finally took the top spot thanks to its economic growth, strong base of STEM workers and lack of income tax. The state ranked third in Economy and Technology & Innovation, fifth in Workforce and Quality of Life, and eighth in Access to Capital.
“Why did we top the list? Because we’re the most talented state, the most connected state and the most innovative state in the union,” Governor Jay Inslee told CNBC.