“Not much has changed,” Forbes said Friday. “It is still burdened with an aging population and a weak economic forecast. Job growth projections are the worst in the U.S and only Vermont is expected to have slower household income growth over the next five years, according to Moody’s Analytics.”
Virginia was the best state for business, according to the annual rankings. Virginia got high marks because of strong business incentives, its handling of legal claims against business and its low union membership.
Maine ranked 49th in growth prospects, behind only Wyoming. The Pine Tree State did better than most states — 24th — for quality of life.
Forbes placed much of the blame for Maine’s worst-in-the-nation standing on “the state’s high corporate tax burden and lousy job and economic growth forecast.”
The lack of a statewide economic development plan is a glaring omission, according to Peter Vigue, chairman and CEO of Cianbro in Pittsfield. “You can’t run an operation or business without a strategy,” he said.
Vigue does, however, points to other factors that he thinks offset the negatives. "Compared to a number of other states there are some significant benefits of doing business in the state. I would argue that the resourcefulness of people in this state are significant and far greater than those of many, many other states in this country.”
He also cites the fact Maine has the deepest port on the eastern seaboard in Eastport. He said it needs upgrades, but the asset is there.
Read more: Maine remains worst state for business, Forbes says — Business — Bangor Daily News — BDN Maine
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