Tuesday, December 17, 2019

These are the 10 states where the economy is strong and opportunities are growing

These are the 10 states where the economy is strong and opportunities are growingThese are the 10 states where the economy is strong and opportunities are growingLooking for a new job? You may want to consider moving to a different state.TheU.S. News World Reports Best Statesjust released their annual rankings that measures how well states economies are performing. They looked at 77 metrics across eight categories, provided by McKinsey Companys Leading States Index, including economic status. Data points that fell under the economy growth umbrella includeJob growthGrowth of each states GDP between 2013 and 2016Business environment (monthly birth rate for new businesses)Unemployment rateParticipation in labor force for everyone 16 and olderNumber of people moving in and out of a state was taken into accountTax burdenThe number of top company headquarters per capitaVenture capital disbursedEntrepreneurship (business birth rate)Patent creationSo who took the top prize? Well if you are currently on either coast, consider heading towards the middle of the country as Colorado and Utah took the top spots, while Idaho and Texas made it into the Top 10 as wellColoradoUtahWashingtonCaliforniaFloridaOregonIdahoTexasMassachusettsDelawareFor the first time this year, the rankings looked at Quality of life which includeddrinking water quality, pollution, voter participation and community engagement.Utah, Colorado, Washington, and Massachusetts also all made it into the top 10 list for Best States Overall.Colorado and Utah growing in the tech sectorColorado taking the No. 1 slot is leid a big surprise as its unemployment rate has been low for a while for the state with a population of 5.54 million. It is home to multiple booming industries including tech, agriculture, real estate, energy, tourism, craft beer, and everyones new favorite, cannabis.The states tech scene has become particularly relevant as the state employs hundreds of thousands of employees. Lets also not forg et that Googles new Boulder campus plans to hire thousands of people this year. Colorado also continues to be a hub for startups andInc.even dubbed Boulder Americas Startup Capital.Similar to Colorado, Utah (population 3.05 million) is also seeing huge growth in the tech space. Nicknamed the Silicon Slopes, Utah is home toOverstock.comand Omniture. And because of the tech boom, there is also a strong, venture capitalist community present as well. It should also be noted that Utah came in at No. 3 for Opportunity which took into account metrics including education, income inequality, and tools for economic success.

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