North Dakota ranked best-run stateNorth Dakota has been ranked the best-run state in America for the second year in a row, according to a survey conducted by financial news website Wall Street 24/7.
By: Herald Staff Reports, Grand Forks Herald
North Dakota has been ranked the best-run state in America for the second year in a row, according to a survey conducted by financial news website Wall Street 24/7.
The site published its report Nov. 21 ranking the states according to factors such as budget deficits, per capita income, standard of living and government services
One of the main reasons for North Dakota’s ranking was its unemployment rate of 3.1 percent, the lowest in the nation. The report also noted its budget surplus and booming oil production, adding to mining’s share of 10 percent of gross domestic product in 2012.
The state also had a 33.4 percent increase in property values between 2007 and 2012, the largest in the nation.
According to the article, all of the best-run states shared a few common characteristics, including abundance in natural resources, stable fiscal management and well-funded pensions.
Minnesota ranked 7th in the report, which noted the state’s high rate of high school graduation, strong economic growth and low poverty rates. It identified its business climate, tax rates and 2012 budget shortfall as weak spots.
Wall Street 24/7 ranked California as the worst-run state in the country for the last three years.