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Maine's Forbes Ranking Improves, But Not By Much

It's a statistic that's been used repeatedly by top political leaders in Maine to attack opponents in the opposing party. For the past four years, Maine has been ranked dead last in Forbes magazine's list of the best and worst states to do business in the U.S. This year, Maine's ranking improved, though not by much.

 

So first, the good news: We're no longer last! In Forbes annual list, Maine jumped from 50th to 49th place. But here's the bad news.

"There's not a huge difference between number 49 and number 50," says Kurt Badenhausen, a senior editor at Forbes, which placed only Mississippi below Maine.

Badenhausen says Maine continues to struggle with some of the same problems that have earned the state a 50th place ranking in recent years: "The high corporate tax burden and a weak job and economic growth forecast that ranks among the slowest in the U.S. over the next five years," Badenhausen says.

Badenhausen says the entire Northeast region is struggling with these problems, along with high energy costs. Eight of the 10 states topping the list are west of the Mississippi River, Including Number 1, Utah.

In recent years, Democrats have pointed to the Forbes ranking as proof that Gov. Paul LePgae's policies have been bad for Maine's economy. LePage, in turn, has used the data to argue for lowering the state's tax and regulatory burdens to attract more businesses.

In an email, the governor's press secretary, Adrienne Bennett, notes that the governor continues to advocate for these changes.

"Will Maine continue being near the bottom of the Forbes list," Bennett asks, "or will the Legislature finally allow Gov. LePage to deliver an agenda to achieve real economic prosperity for Mainers?"