Report: Florida No. 10 in Rich States, Poor States

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(The Center Square) – Florida is ranked No. 10 in the country in economic outlook in the 19th annual Rich States, Poor States ranking.

Fifteen state policy variables are measured in the ALEC-Laffer State Economic Competitiveness Index, released Wednesday by the American Legislative Exchange Council. Better scores go to states spending and taxing less to attain higher growth rates.

Utah, Tennessee and Idaho are the top three, respectively.

Florida was No. 15 last year and No. 14 in 2024.

“Generally speaking,” the report explains, “states that spend less – especially on income transfer programs – and states that tax less – particularly on productive activities such as working or investing – experience higher growth rates than states that tax and spend more.”

The third largest state in America has a population estimated at 23.5 million, up nearly 2 million since 2020.

The economic performance rank is No. 1. In the 15 categories scored, the state is tied or at the top as a right to work state, no inheritance tax levied, and no personal income tax rate. It is No. 2 in personal income tax progressivity ($0), third in number (two) of tax expenditure limits, and third in public employees per 10,000 of population (395.9).

The worst rankings are No. 49 for state tort system costs (3.35%), No. 37 for sales tax burden ($29.41) and No. 32 for state minimum wage ($14).