Minnesota Named Best-Run State In America
The Land of 10,000 Lakes has been named the best-run state in the country, according to a report by 24/7 Wall St.
Minnesota had been ranked as the 11th best-run state as early as 2012, but has steadily risen through the rankings since and is now the best-run state.
The study cites Minnesota’s wealth with $65,599 as the average household income, which is about $8,000 more than the average annual income throughout the country.
“With a strong tax base, the state brings in about $4,400 a year per resident in taxes, more than all but four other states,” the study said. “In Minnesota, higher tax revenue means the government can save more. The state has saved the equivalent of 10.3% of its annual spending in a rainy day fund — more than most states and greater than the 8.2% average across states.”
Minnesota’s 3.9% unemployment in 2016 was the 13th lowest in the country, while 79.8% pension funded ratio was the 18th highest. In addition, the credit outlook is stable and Minnesota has the 6th lowest poverty rate at 9.9%.
You can find the entire study here.