With a one-year gross domestic product increase of 2.6 percent, Louisiana ranked second worst among the 50 states for its environment for business, based on 42 measures examined in a 24/7 Wall St. study released last month. 

The website’s research ranked states according to broad categories such as economic conditions, business expenses, infrastructure conditions, skilled worker availability, quality of life, regulatory framework, living costs and the state of technology. 

In Louisiana, workers earn an average of $53,239 annually, according to the study. And 24.3 percent of state residents have a bachelor’s degree or greater.

Beginning a business venture is risky, according to 24/7 Wall St., with about 50 percent of all businesses going under in their first five years of operation. At the same time, the environments states create for businesses – involving factors such as tax codes and transportation infrastructures – can vary widely around the nation, the study found.

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Best States in Which to Do Business

RankState1st-Year Real GDP ChangeAverage Earnings per JobAdults With Bachelor's Degrees2018 Venture Capital Deals (per 100,000 People)
1Massachusetts3.10%$75,63744.50%9.6
2Utah3.70%$52,36434.90%3.4
3Colorado3.50%$61,61741.70%5
4Washington5.80%$71,39036.70%4.9
5North Dakota3.60%$56,68129.70%0.9
6North Carolina2.40%$55,08631.90%1.8
7Idaho4.00%$47,81227.70%1.5
8Virginia2.60%$63,28139.30%1.7
9Maryland2.50%$68,24240.80%2.3
10Wyoming0.10%$55,12226.90%0.9
11Vermont1.20%$50,05438.70%3.8
12Delaware0.00%$61,81731.30%5
13California4.30%$73,81534.20%7.7
14Connecticut0.50%$75,49739.60%2.5
15New Hampshire2.30%$61,62636.80%2.4
16Minnesota2.60%$61,41536.70%2.2
17South Dakota1.90%$50,99129.20%0.3
18Texas4.00%$61,87530.30%1.5
19Montana2.60%$46,32131.70%1.1
20Florida3.20%$50,87930.40%1.1
21Iowa2.20%$52,55629.00%1.1
22Georgia2.40%$56,84331.90%1.1
23Oregon3.80%$58,34734.00%2.4
24Arizona4.10%$55,25429.70%1.2
25New York1.20%$79,18237.20%5.4
26Nevada4.20%$53,54324.90%1.3
27Nebraska0.90%$56,54432.40%1
28Michigan2.50%$57,74829.60%1.1
29Alaska0.70%$68,84430.20%0.4
30Indiana2.00%$55,60027.10%1.4
31South Carolina2.60%$50,89328.30%0.8
32New Jersey2.20%$71,22840.80%1
33Tennessee3.10%$56,65627.50%1.2
34Wisconsin2.40%$55,89630.00%1.3
35Arkansas1.70%$47,27223.30%0.9
36Rhode Island1.20%$58,67034.40%2.2
37Kansas2.10%$54,72733.80%0.7
38Maine2.20%$50,24731.50%1.8
39Oklahoma2.60%$54,28225.60%0.3
40Pennsylvania2.60%$63,57831.80%2.1
41Ohio1.90%$57,31929.00%1.3
42Illinois2.10%$66,04435.10%2
43Kentucky1.40%$50,68224.80%0.9
44Alabama2.80%$50,16525.50%0.5
45Missouri2.40%$54,34929.50%1.1
46Mississippi1.30%$43,76923.20%0.2
47New Mexico2.50%$49,53027.70%0.9
48Hawaii2.40%$59,57333.50%0.4
49Louisiana2.60%$53,23924.30%0.2
50West Virginia2.30%$51,09921.30%0.1

Source: 24/7 Wall St.