Hawaii, New York, and Alaska are the most expensive states for businesses, but Connecticut has the highest costs associated with wages, according to a report by the Milken Institute, an economic think tank.
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The states with the highest and lowest costs in those individual categories are:
| |
Highest |
Lowest |
| Wages |
Connecticut |
South Dakota |
| Taxes |
Vermont |
New Hampshire |
| Electricity Costs |
Hawaii |
Idaho |
| Industrial Space Costs |
Hawaii |
Iowa |
| Office Space Costs |
New York |
Iowa |
The ten most expensive and least expensive states for business overall follow. An index score of 100 means that the state is equal to the U.S. average.
Ten Most Expensive States
| Rank |
State |
Index |
| 1 |
Hawaii |
151.5 |
| 2 |
New York |
130.9 |
| 3 |
Alaska |
130.8 |
| 4 |
Massachusetts |
130.6 |
| 5 |
Connecticut |
127.5 |
| 6 |
California |
122.9 |
| 7 |
New Jersey |
120.9 |
| 8 |
Vermont |
110.2 |
| 9 |
Delaware |
110.1 |
| 10 |
Rhode Island |
108.0 |
Ten Least Expensive
| Rank |
State |
Index |
| 50 |
South Dakota |
70.2 |
| 49 |
Iowa |
79.7 |
| 48 |
North Dakota |
81.3 |
| 47 |
Nebraska |
82.3 |
| 46 |
Idaho |
82.8 |
| 45 |
South Carolina |
82.9 |
| 44 |
Montana |
84.1 |
| 43 |
Missouri |
84.6 |
| 42 |
Tennessee |
85.2 |
| 41 |
Arkansas |
85.4 |