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STAR-ADVERTISER
Hawaii is ranked by CNBC?as the most expensive state to live, followed by Alaska, for the second consecutive year. The Waikiki skyline.
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While Hawaii has the best quality of life, it is the worst state for business in 2015, according to a report by CNBC.
The cable business news channel based its rankings on 10 criteria that included workforce, access to capital, technology, innovation and infrastructure.
The state also ranked at the bottom in 2013.
The cost of doing business — including utility bills and office rent — is among the highest in the nation.
In addition, infrastructure, including the state’s roads and bridges, is second poorest behind Rhode Island, the study said. The report also took into account traffic congestion.
While the state’s unemployment rate is below the national average, it ranked 46th in the workforce category because of a heavy union presence and ineffective worker training programs.
The regulatory climate, high taxes, complexity of Hawaii’s tax code, and lack of tax breaks and state aid to help companies reduce costs were also factored in.
Hawaii was below West Virginia and Rhode Island at the bottom of the list, while Minnesota, Texas and Utah were the best states for business.