Connecticut notches its best ever finish in CNBC state business rankings

Connecticut logged its best-ever finish in CNBC’s 20th annual America’s Top States for Business rankings, moving up five spots to 23rd place. CNBC’s lead analyst, Scott Cohen, said the improvement may reflect better business friendliness, but that high costs and aging infrastructure still prevent the state from reaching the top tier nationally. A central change in this year’s methodology is greater emphasis on how quickly states approve permits and move projects through the regulatory process, with CNBC adding a measure of “red tape” to the business friendliness category. Connecticut also scored well on quality-of-life factors tied to worker recruitment, including health, inclusiveness, and education. Despite the gains, Connecticut remained 40th for cost of doing business and 44th for cost of living. The biggest weakness was infrastructure and “site readiness,” areas CNBC said are increasingly important for companies seeking shovel-ready sites.