The Milken Institute recently released the latest version of its annual ranking of how states perform in terms of the cost of doing business. The list, which measures wage costs, taxes, electricity and real estate costs, doesn’t include any big surprises. In fact, 2005’s rankings look a lot like those from 2004. Hawaii continues to top the list with business costs that are 43 percent higher than the national average. Other high-cost centers include (in rank order): New York, Massachusetts, California and Connecticut. If you’re looking for cheap places to operate, check out the Great Plains and Mountain West. South Dakota has the lowest operating costs, followed closely by North Dakota. Other places with low business costs include Iowa, Idaho and Montana.
