Maine is becoming a cheaper place to do business, according to a Milken Institute annual study. Others that are also improving are West Virginia, Virginia, Arizona and North Carolina.
The most expensive states (in order) were Hawaii, New York, Massachusetts, California and Connecticut. They ranged from 23 to 43 percent above the national average.
The cheapest places (in order) were: South Dakota, North Dakota, Iowa, Montana and Idaho. They ranged from 17 to 28 percent below the national average.
Hawaii’s industrial rent cost was over five times(!) that of South Dakota.
In today’s environment, industry and citizens can more easily vote with their feet. In today’s Cheap Revolution, (see my Oct. 4 blog) those states that are bringing down their costs will be the winners in the long-term.
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