“Rich States, Poor States” is a comprehensive study by the American Legislative Exchange Council and examines economic policies of the states to determine which are poised for growth, and which are not. Download a PDF copy here.
According to the study, they use years of economic data and empirical evidence from each state and identify which policies can lead a state to economic prosperity. They not only identify these policies, but also make research-based conclusions about which states are poised to achieve greater economic prosperity and those that are stuck on the path to a lackluster economy.
Not surprising, Illinois was ranked 40th in the study. Some of the highlights are:
- Illinois lost 646,867 people from 2004-2013;
- Illinois ranks dead last in terms of fiscal solvency;
- Illinois’ pension debt costs every citizen $25,740 every year.
The top five states according to the study are: Utah, North Dakota, Indiana, North Carolina and Arizona.
The bottom five are: New York, Vermont, Minnesota, Connecticut and New Jersey.