9. Rhode Island
Solution Provider 500 Companies: 4
High labor/business costs (No. 48) and unfavorable taxes and regulations (No. 48) took their toll on Rhode Island's overall ranking. In our analysis, the state had the worst score among all states in regulatory environment criteria and in the cost of unemployment insurance taxes. And, the state's high cost of living and sales taxes bring down its quality of life/personal cost of living ranking to an undesirable No. 44.
While Rhode Island's ranking for innovation and growth (No. 41) is also poor, its No. 17 rank in business opportunity (helped by a high score for economic diversity) is a factor in the state's favor. The state also scores fairly high for its educated, experienced workforce (No. 15).
Rhode Island has one solution provider each on the Tech Elite 250, Next-Gen 250, and Fast Growth 100 and 50 Up-And-Comers lists.