Wednesday, November 19, 2008

New Hampshire's Falling Competitiveness

New Hampshire is a prime example of what Dr. Haughton warned against today in his presentation of the BHI Competitiveness Report. Complacency.

The sixth annual report, released in 2006 ranked NH #3.
The seventh annual report, from 2007, ranked NH #9.
The eighth annual report, released today, dropped NH to #17 overall.

In an apparent attempt to reverse this trend, the state, along with private donors, if offering Massachusetts business owners who are considering moving their company to NH promotional tours.
"They will be picked up at the border in a limo, whisked away to lunch, and offered hockey or skiing tickets and a night's stay in an upscale Nashua hotel...A business recruiter will pitch New Hampshire's perks over lunch before taking the business owner to visit potential relocation sites."
(HT: Nashua Telegraph)

The NH state government could affect the "live free or die" state's ability to attract and retain business and to provide a high standard of living for its residents over the long run by considering where they have relative disadvantages according to our competitiveness report. By making the state more attractive to business, the state would not need gimmicks to lure business owners.

In 4 different areas, NH ranks in the bottom 10:
  • Workers’ compensation premium rates: 46th
  • Crime index change 2006-2007, %: 43th
  • Electricity prices per million BTU: 44th
  • Science & Engineering grad. students 100,000 inhabitants: 41th

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