Rich States, Poor States – How does Missouri match up in 2022?

April 25, 2022- Last week the American Legislative Exchange Council (ALEC) released their 15th edition of Rich States, Poor States, which features an evaluation of each independent state and key areas of policy in that state to better understand its economic trajectory.

The Economic Outlook Ranking is a forecast based on a state’s current standing in 15 state policy variables. Each of these factors is influenced directly by state lawmakers through the legislative process.

Missouri is currently ranked 29th in the United States for its economic outlook. This is a forward-looking forecast based on the state’s standing (equal-weighted average) in 15 important state policy variables. This ranking drops Missouri down 8 spots from its previous 21st ranking in 2021.

Current Economic Outlook Rankings (2022)

• Top Marginal Corporate Income Tax Rate-29th

• Property Tax Burden-12th

• Sales Tax Burden-25th

• Remaining Tax Burden-4th

• Recently Legislated Tax Changes-45th

• Debt Service as a Share of Tax Revenue-47th

• Public Employees Per 10,000 of Population-21st

• State Liability System Survey (tort litigation treatment, judicial impartiality)-44th

• State Minimum Wage-35th

• Average Workers’ Compensation Costs-37th

• Tax Expenditure Limits-1st

Economic Performance Rank

The Economic Performance Ranking is a backward-looking measure based on a state’s performance on three important variables: State Gross Domestic Product, Absolute Domestic Migration and Non-Farm Payroll Employment — all of which are highly influenced by state policy. This ranking details states’ individual performances over the past 10 years based on this economic data.

Missouri is currently ranked 32nd in the United States for its economic performance:

• Cumulative GDP Growth, 2010-2020- Rank 38th

• Cumulative Domestic Migration, 2011-2020- Rank 33rd

• Non-Farm Employment Growth, 2010-2020- Rank 25th

You can read the full economic report here.