Tennessee Ranked 11th In Economic Outlook By ALEC
Image Credit: American Legislative Exchange Council
The Center Square [By Jon Styf] –
Tennessee is ranked 11th in economic outlook in the “Rich state, poor state” rankings from the American Legislative Exchange Council.
The annual rankings from ALEC – an organization favoring limited government, free markets and federalism – rank states on 15 state policy categories including gross domestic product, domestic migration and non-farm payroll employment.
Tennessee earned top rankings for its lack of a personal income tax, lack of estate/inheritance tax, $7.25 state minimum wage using the federal mark and for being a right-to-work state.
Tennessee’s lowest rankings came from its sales tax burden and debt service as a share of tax revenue.
Tennessee was ranked 12th overall in economic performance for the time period from 2011 to 2021. Florida, Utah, Arizona and Idaho topped those rankings while Connecticut, Alaska and Louisiana were at the bottom of the rankings.
Tennessee is seventh in absolute domestic migration in the rankings, though it had its highest domestic migration year in 2022 after the rankings.
The state was 10th in state gross domestic product and 13th in non-farm payroll employment.
About the Author: Jon Styf, The Center Square Staff Reporter – Jon Styf is an award-winning editor and reporter who has worked in Illinois, Texas, Wisconsin, Florida and Michigan in local newsrooms over the past 20 years, working for Shaw Media, Hearst and several other companies. Follow Jon on Twitter @JonStyf.
