In the American Legislative Exchange Council's 2014 economic outlook ranking, released Tuesday, Florida comes in 16th in this measure of how each state can expect to perform economically.
The Sunshine State's economic performance, on the other hand, ranked only 19th.
The comparison is based on 15 policy areas that have proven, over time, to be the best determinants of economic success, according to the authors of "Rich States, Poor States: ALEC-Laffer State Economic Competitiveness Index, 2014 Edition."
ALEC says it produces the report because throughout the country, states are looking for ways to energize their economies and become more competitive. "Each state confronts this task with a set of policy decisions unique to their own situation, but not all state policies lead to economic prosperity," said the authors' summation.
Using years of economic data and empirical evidence from each state, the authors identify which policies can lead a state to economic prosperity. "Rich States, Poor States" claims it not only identifies these policies, but it makes sound research-based conclusions about which states are poised to achieve greater economic prosperity and those that are stuck on the path to a lackluster economy.
Utah is No. 1, with the highest economic outlook ranking, New York is No. 50, with the lowest.
Said Jonathan Williams, director of the Tax and Fiscal Policy Task Force at ALEC,"North Carolina is the largest winner in this year's index, moving from 22 to 6. Michigan and Indiana also enjoyed significant gains in the 2014 edition of 'Rich States, Poor States.'"
See how Florida and other states fared in all 15 policy areas by clicking here. Be sure to scroll to the end for state-by-state breakdowns.
The evidence is clear," say the authors. "Economic prosperity is attainable for those states that exercise discretion and discipline in spending and taxation."
"Rich States, Poor States" is an annual economic competitiveness study authored by economist Arthur Laffer, Stephen Moore, chief economist at the Heritage Foundation, and ALEC's Williams.