Delaware ranks 37th in list of best states for starting a business

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Delaware finished 37th in a list of the best states for starting a business.

The ranking came from WalletHub, a financial advice website.

Delaware was among a cluster of I-95 corridor states that ranked low on the list. Sun Belt states and even the high tax state of California ranked higher. States with more rapid population growth and younger residents tended to rank higher. 

(Click on individual states in map to see the ranking). 

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Source: WalletHub

WalletHub compared the 50 states across 25 key indicators of startup success to determine the most fertile grounds in launching and growing an enterprise

Delaware had higher rankings in the business environment and access to resources categories but ranked eighth from the bottom when it came to business costs. New Jersey ranked 50th, with Maryland.

Delaware has been seeing low rankings, due in part to slow growth in incomes and the number of jobs. Other reports cite the state’s high income tax rate.

The state has struggled with the loss of manufacturing jobs over the past decade, due to the loss of both auto assembly plants and other plant closings. The job gains for 2018 were revised upward after more detailed payroll figures

Click here for the full report.

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