New Hampshire Ranks 7th in Economic Freedom

Source: Forbes Magazine, NH DRED
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New Hampshire ranks seventh out of 50 states in terms of economic freedom according to "The U.S. Economic Freedom Index: 2004 Report" published by Pacific Research Institute in association with Forbes magazine. The results were published in Forbes' May 24th issue.

The Index ranks America's 50 states according to how friendly or unfriendly their governments are toward free enterprise. The report factors 143 variables — from taxes to environmental regulations to tort laws to property rights.

The rankings were based on five types of government intervention in markets: fiscal, regulatory, judicial, size of government and welfare.

"This is great news for New Hampshire," said Governor Craig Benson. "Supporting free enterprise has always been a hallmark of our state, and now, in addition to being named the 'Most Livable State' and 'Healthiest State,' New Hampshire's many successes in the economic arena are being recognized."

In terms of the Economic Freedom Index, New Hampshire fared far better than its regional counterparts: Maine ranked 30th, Vermont 36th, Massachusetts 41st, Rhode Island 47th and Connecticut 48th.

"Regionally, New Hampshire is very well positioned in terms of economic growth," said New Hampshire Department of Resources and Economic Development Commissioner Sean O'Kane. "With our favorable tax structure, excellent quality of life and entrepreneurial spirit, we're certainly viewed as a preferred business destination by expanding or relocating companies."