PA Losing Ground in Economic Rankings
This month, the American Legislative Exchange Council released their third annual ALEC-Laffer State Economic Competitive Index. Unfortunately, in the last three years Pennsylvania’s economic rankings not only have been near the bottom – they are only getting worse.
Since 2008, the Commonwealth has fallen both in its Economic Performance and Economic Outlook ratings to 46th and 43rd respectively; putting it among the worst ten states in nation.
The Index also touts Pennsylvania as a biggest loser for population growth, with a 2.6% increase from 1998-2008, well below the 10.0% U.S growth average. The state lost 81,976 in net interstate migration during that same period.
The ALEC-Laffer index drives this point home-taxes don’t redistribute wealth, they redistribute people.
The report offer this advice to states who want to improve-learn from the mistakes of CA, MI, NY, and NJ; avoiding high taxes on the rich, sweetheart deals (e.g. film tax credits) to bride business to come instate, and avoid generous welfare programs to the unemployed.
ALEC-Laffer Pennsylvania Rankings (1=best;50=worst)
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