Idaho #2 in Economic Outlook
The Gem State beats out every state except Utah when it comes to economic development says a new report. Rich States, Poor States is a yearly report compiled by the American Legislative Exchange. The top five states are Indiana at number five, then in fourth place, Nevada, followed by North Dakota in third with the report pointing to the state's recent tax changes contributing to its high ranking. To round out the top five, you'll find Idaho at number two and Utah in first place. Why? One expert said Utah got the top spot for many reasons, including its flat-rate income tax of 5% and its lack of an estate tax. You can see a discussion about Utah's ranking by clicking this link here.
According to the report, Idaho ranked as high or the highest in the following categories: minimum wage (1), estate/inherited tax levied (1), state liability system tort litigation/judicial impartiality (1), and Idaho is a right to work state.
The repeal of regulations by Governor Little and the Idaho tax code are cited as one of the many reasons Idaho rose from number 10 last year to number 2 this year. If you're wondering which five states are the worst economically?
New York (50), Vermont (49), Illinois (48), California (47), and New Jersey were the bottom 5 says the American Legislative Exchange Council. You can read the entire report by clicking the link here. No word from the governor's office or the legislature at the time of this publication. Idaho continues to be one of the fastest growing states in the country.