New York Ranks Last in Business Competitive Index, Utah at the Top

New York ranks last in a 2015 business competitive index released by the American Legislative Exchange Council, a think-tank for state public policy, while Utah is ranked first. Jonathan Williams, vice president for State Fiscal Reform at ALEC says New York's high tax rates puts it at the bottom of the list. He tells TheStreet's Rhonda Schaffler that Utah has created a solid business climate by keeping tax rates reasonable and regulations under control. He says Illinois showed improvements in competitiveness thanks to recent tax cuts. Kentucky gained ground this year, but Michigan dropped due in part to a minimum wage increase.