(Michael McGrady) – Nevada ranks as the 6th best state for its economic outlook, according to a report measuring states’ tax policies and economic performance.
The ranking comes from the free-market American Legislative Exchange Council (ALEC), which released its annual “Rich States, Poor States” report on Wednesday. The economic index measures the amount of potential wealth and economic competitiveness in all 50 states across the United States.
“Sound tax policy and eliminating excessive government regulations continue to stand strong and true in improving states’ competitiveness, and we hope these states’ stories serve as a guide as we navigate the economic recovery following the COVID-19 pandemic,” the report’s co-author, Arthur Laffer, said in a statement.
Nevada’s 6th-place ranking is based on 15 measures such as individual income tax rates, overall property tax burden, a state’s minimum wage, and other factors like union laws.
Nevada only ranked behind Utah, Wyoming, Idaho, Indiana, and North Carolina for economic outlook.
Nevada also ranked 14th out of the 50 states for its economic performance, which is a composite of metrics that consider gross domestic product results, domestic migration, and non-farm employment.