Last month, Alec-Laffer released its annual state competitiveness rankings report. According to the index, Washington ranks at No. 2 in economic performance and No. 39 in economic growth outlook.
According to a press release, the rankings forecast a state’s current standing by looking at 15 state policy variables when specifically studying economic outlook. When looking at performance, the index looks at a state’s data across a decade.
Areas scrutinized for economic performance include the state gross domestic product, absolute domestic migration, and non-farm payroll employment. Variables looked at for the economic outlook ranking include the property tax burden, the number of public employees per 10,000 of the population, the state minimum wage, and more.
To see more details, go to the Alec-Laffer, which is available online.