The U.S. Chamber of Commerce Foundation has released its annual Enterprising States study, offering an in-depth look at the free enterprise policies being implemented to promote economic growth at the state and local levels.
Now in its fifth edition, the Enterprising States study measures state performance overall and across five policy areas important for job growth and economic prosperity. Those five areas include:
- Talent Pipeline
- Exports and International Trade
- Technology and Entrepreneurship
- Business Climate
The 2014 report relates these policies and practices to the need for collaboration between education, workforce development, and economic development to positively combat the nation's growing skills gap.
Utah lands in the top 6 in each of the five policy categories and 3rd in overall economic performance. It is the only state to finish in the top 10 on all six lists. (Read more about Utah in our supplementary study, Utah: Collaboration as the Foundation For Growth.)
Colorado appears on 5 top 10 lists, Texas on 4, and Washington is in the top 15 of five lists.
North Dakota is another strong performer, leading by a large margin in economic performance and ranking 1st in talent metrics and 9th in business climate.
Florida and Nevada rank well on many policy measures, a sign that the economies of those states may be ripe for a turnaround.
Virginia ranks 5th in technology and entrepreneurship, and talent metrics, helping it land just outside the top 10 in economic performance.
Minnesota ranks 10th in economic performance, partly due to its second place in talent pipeline.
Past Enterprising States Reports
Enterprising States 2013 - Getting Down to Small Business
Enterprising States 2012 - Policies That Produce
Enterprising States 2011 - Recovery and Renewal for the 21st Century
Enterprising States 2010 - Creating Jobs, Economic Development and Prosperity In Challenging Times