By Mike Sunnucks | Rose Law Group Reporter
Arizona ranks 16th in a new report looking at economic growth among U.S. states.
Filterbuy Inc., an Alabama-based HVAC firm, ranked states based on GDP, new business, income and population growth.
Other Western and Sun Belt states, that frequently compete with Arizona for jobs and business investment, top the list.
Nevada ranks first followed by Montana, Idaho, Florida, North Carolina, South Dakota and Texas.
Population growth is helping drive the fastest growing state economies, according to the report.
“While population growth has slowed at the national level, states with increases in population and employment growth are seeing an extra boost to their economies. A greater number of residents and workers means more entrepreneurs are available to start businesses and more workers are around to help companies grow. The region that has seen this effect most directly is the Mountain West, where states such as Nevada, Idaho, Utah, and Montana have seen rapid growth in both population and employment recently,” the report reads.
Maryland, Louisiana, Ohio and New York rank at the bottom of the state rankings.