Each state in America is ranked in terms of the cost of living; the top of the list being the cheapest state to live. As you progress down the list of states, they become far more expensive places to reside.
The cost of living is associated with the cost of driving a business. Wages go further when the cost of living is as low as possible.
There are a number of factors to take into account when statisticians are working out the cost of living per state in the US.
Workforce - when working out the cost of living the education of the workforce will be closely monitored, and also their employability.
Cost of Business - this includes the rent for the business, the cost of employing staff and paying their taxes. Businesses look at these costs when deciding which state their business is best suited to and a factor will be incurring these costs.
Quality of Life - the best places for businesses to locate are those with the best quality of life such as attractions, education, crime rate and access to health. As such, the highest rated states are California and Hawaii.
Economy - a healthy state is one where economic growth is steady.
Education - good higher education institutions will draw in prospective businesses as they will be able to tap into any outstanding graduates looking for employment after their studies have ended.
Business Friendliness - businesses are graded on their perceived friendliness of the regulatory and legal frameworks which they have to follow.
Technology and Innovation - states are graded in terms of the businesses support to innovation, how many patents have been issued to the residents and also the take up of broadband services.
Transportation - what is the public transport links like in each state and also are there accessible highways in which lorries and other haulage can transport from state to state as efficiently as possible.
The cost of living is associated with the cost of driving a business. Wages go further when the cost of living is as low as possible.
There are a number of factors to take into account when statisticians are working out the cost of living per state in the US.
Workforce - when working out the cost of living the education of the workforce will be closely monitored, and also their employability.
Cost of Business - this includes the rent for the business, the cost of employing staff and paying their taxes. Businesses look at these costs when deciding which state their business is best suited to and a factor will be incurring these costs.
Quality of Life - the best places for businesses to locate are those with the best quality of life such as attractions, education, crime rate and access to health. As such, the highest rated states are California and Hawaii.
Economy - a healthy state is one where economic growth is steady.
Education - good higher education institutions will draw in prospective businesses as they will be able to tap into any outstanding graduates looking for employment after their studies have ended.
Business Friendliness - businesses are graded on their perceived friendliness of the regulatory and legal frameworks which they have to follow.
Technology and Innovation - states are graded in terms of the businesses support to innovation, how many patents have been issued to the residents and also the take up of broadband services.
Transportation - what is the public transport links like in each state and also are there accessible highways in which lorries and other haulage can transport from state to state as efficiently as possible.
