Vermont's low ranking among states in a new Forbes magazine survey is evidence that the state is overtaxed and over regulated. And hardworking Vermonters are on the losing end of the state's anti-business policies.
According to Forbes' "Best States for Business" survey-which gets a lot of notice in CEO offices around the world-Vermont is ranked 45 of 50, making only five other states worse.
Nearby Maine ranked lower than Vermont; it was at the bottom as the worst state for business in the USA. Fiscally conservative Utah was ranked no. 1, as the best state for business in the USA.
Forbes placed Vermont at 42 in business costs, 45 in government regulations, 39 in economic climate and 45 in economic growth-not the kind of news the state's cheerleading section will be shouting about anytime soon.
What is the long and the short of the Forbes' survey? Businesses will likely be looking elsewhere to set up shop.
The National Federation of Independent Business in Vermont places the blame for the state's dismal business performance directly under Monpelier's golden dome.
According to Shawn Shouldice, director of the National Federation of Independent Business in Vermont, the state's ranking should make voters steamed in the waning days of Campaign 2010. Shouldice also said that
See BUSINESS, page 17
From page 1
voters must give economic issues their full attention inside the voting booth.
"Ninety-six percent of the employers in Vermont are small business owners, and they are among the most heavily taxed and over-regulated business owners in the country," said Shouldice.
"Our local businesses are competing regionally, nationally and globally, and they can't afford policies that make Vermont one of the least competitive places in the country any longer. The numbers make it easy to understand why our economy has been stagnant. There's no question that excessive state taxes and regulations are a drag on the economy and that they are costing us jobs, opportunities and revenue," Shouldice noted.