A new report this week from Washington state’s Revenue Forecast Council chief economist notes that 40 of 45 categories that comprise the Economic Climate Study were largely improved, yet there is a drop in the comparative ranking to the other states.
In this 2014 report, Washington ranked 19th in the nation, ending a five year string of 18th ranked performance. The rank is the worst since the state’s 2006 rank of 20th.
Since 2002, currently as far back as composite ranking goes, Washington’s overall rank has ranged from a low of 23rd best in 2003 to a high of 16th best in 2008. Since reaching a ranking high in 2008, Washington’s has lost ground amongst the states even as annual performance has generally improved.
This analysis is based on the premise that, while improving productivity is primarily the domain of Washington's business sector, appropriate state and local policies, particularly those relating to education, public safety, infrastructure, cost of doing business, and the environment, are essential to promote higher standards of living.
Quality of life, education and skills of the workforce, infrastructure, and the cost of doing business are the four broad categories of data incorporated in this Economic Climate Study. There were no categories where Washington’s performance showed exceptional improvements or declines.
You can read and download the entire report at this link.