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.
The same three states took top spots in the insitute's Cost-of-Doing-Business Index last year. The index, which is sponsored by the California Manufacturers and Technology Association, takes into account wage costs, taxes, electricity costs, and real estate costs for industrial and office space.
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.
