How Bad Is The Business Climate In Rhode Island?

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CNBC releases their rankings for all 50 states for business in 2016. How do you think Rhode Island did?

For ten years, CNBC has released national rankings for state business climates. As anyone familiar with Rhode Island can guess, the state hasn’t fared well. Now the 2016 rankings have been published and things…have taken a turn for the worse.

CNBC State Rankings Business Rhode Island

Rhode Island now ranks 50th out of 50 as a place to do business.

Not only did we come out last, CNBC took it upon themselves to publish an article highlighting just how bad things are in the Ocean State…featuring a lovely pic of the Newport Bridge.

CNBC Rhode Island Worst Business Climate Newport RI

In the article, titled “America’s worst state for business in 2016 takes aim at talent drain“, the reporter talked to Governor Raimondo about the various efforts the state is making to get above its 10 year peak ranking of 48th in the country, especially efforts to stop recent graduates of Rhode Island colleges from jumping ship and heading off to more prosperous states.

Of course, most Rhode Islanders have no illusions about the Ocean State’s economy. After all, we live here. Those of us who live in Newport get constant reminders that most of the luxury and exotic cars sitting in Thames Street traffic are not registered in this state. Not many people looking to make a fortune are setting up shop here and those that do typically operate businesses that operate separate from the local economy.

We’re trying to think of an antithesis of Bill Murray’s line from Caddyshack, “So I’ve got that going for me, which is nice.” Unfortunately, at this moment, one escapes us, but you get the idea.

On the bright side, bouncing around between 48th and 50th means that things haven’t gotten that much worse. Take a look at Connecticut, who just this year dropped 10 spots to end up at 43rd or Oklahoma, which dropped 11 spots to 42nd.

While the state has little to nothing in common with Hogwarts and we’re not even sure if a state can pick itself up like an individual can, we Rhode Islanders might take solace in a little quote from a certain author on its current straits.

“Rock bottom became the solid foundation on which I rebuilt my life.”
― J.K. Rowling

-Tristan Pinnock, Blast Broke Correspondent

Tristan's just this guy, ya know?