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The&nbsp;<a href="https://www.richstatespoorstates.org/publication/rich-states-poor-states-17th-edition/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=top-10-states-for-franchise-growth-in-2024-insights-from-the-alec-laffer-report-2727705" target="_blank" rel="nofollow">2024 ALEC-Laffer state economic competitiveness index</a> ranks all 50 states by both economic outlook and performance, providing invaluable insights for entrepreneurs and franchise owners looking to expand. The states ranking highest on the list secured their spots due to their favorable tax systems, strong employment growth and business-friendly policies, making them ideal locations for franchise opportunities.Other strong performers like Idaho, Arizona and North Carolina join Utah, which tops the list for the 17th consecutive year. Each of these states showcases unique strengths, from low corporate tax rates to effective tax changes, cementing their positions as the best places for business growth and franchise success.Let’s take a closer look at what makes these 10 states stand out for 2024.<h3>Utah</h3>Economic Outlook:&nbsp;1Economic Performance: 3Key Contributors:<ul><li>Personal Income Tax Progressivity:&nbsp;$0.39 (Rank 12)</li><li>Remaining Tax Burden per $1,000 of Personal Income: $12.27 (Rank 7)</li><li>Average Workers’ Compensation Costs per $100 of Payroll: $0.86 (Rank 6)</li></ul><h3>Idaho</h3>Economic Outlook:&nbsp;2Economic Performance:&nbsp;2Key Contributors:<ul><li>Debt Service as a Share of Tax Revenue: 3% (Rank 2)</li><li>State Minimum Wage: $7.25 (Rank 1)</li><li>Recently Legislated Tax Changes: -$12.89 (Rank 1)</li></ul><h3>Arizona</h3>Economic Outlook:&nbsp;3Economic Performance:&nbsp;4Key Contributors:<ul><li>Remaining Tax Burden per $1,000 of Personal Income:&nbsp;$9.58 (Rank 1)</li><li>Public Employees Per 10,000 of Population:&nbsp;382.5 (Rank 2)</li><li>Average Workers’ Compensation Costs per $100 of Payroll:&nbsp;$0.87 (Rank 8)</li></ul><h3>North Carolina</h3>Economic Outlook:&nbsp;4Economic Performance: 11Key Contributors:<ul><li>Top Marginal Corporate Income Tax Rate: 2.5% (Rank 4)</li><li>Right to Work State? Yes (Rank 1)</li><li>Property Tax Burden per $1,000 of Personal Income: $20.71 (Rank 9)</li></ul><h3>Indiana</h3>Economic Outlook: 5Economic Performance: 19Key Contributors:<ul><li>Public Employees per 10,000 of Population: 469.8 (Rank 8)</li><li>State Minimum Wage: $7.25 (Rank 1)</li><li>Average Workers’ Compensation Costs per $100 of Payroll: $0.86 (Rank 6)</li></ul><h3>Texas</h3>Economic Outlook: 6Economic Performance: 6Key Contributors:<ul><li>Recently Legislated Tax Changes: -$4.63 (Rank 6)</li><li>Top Marginal Personal Income Tax Rate: 0% (Rank 1)</li><li>Top Marginal Corporate Income Tax Rate: 2.56% (Rank 5)</li></ul><h3>South Dakota</h3>Economic Outlook: 7Economic Performance: 17Key Contributors:<ul><li>Personal Income Tax Progressivity: $0.00 (Rank 2)</li><li>State Liability System Survey: 72 (Rank 10)</li><li>Recently Legislated Tax Changes: -$2.80 (Rank 15)</li></ul><h3>Wyoming</h3>Economic Outlook:&nbsp;8Economic Performance: 44Key Contributors:<ul><li>State Liability System Survey: 73.1 (Rank 4)</li><li>Personal Income Tax Progressivity: $0 (Rank 2)</li><li>Top Marginal Personal Income Tax Rate: 0% (Rank 1)</li></ul><h3>Oklahoma</h3>Economic Outlook: 9Economic Performance: 32Key Contributors:<ul><li>Property Tax Burden per $1,000 of Personal Income: $17.42 (Rank 4)</li><li>Top Marginal Corporate Income Tax Rate: 4% (Rank 7)</li><li>Debt Service as a Share of Tax Revenue: 3.57% (Rank 6)</li></ul><h3>North Dakota</h3>Economic Outlook: 10Economic Performance: 37Key Contributors:<ul><li>Top Marginal Corporate Income Tax Rate:&nbsp;4.31% (Rank 8)</li><li>Estate/Inheritance Tax Levied? No (Rank 1)</li><li>State Liability System Survey: 72.6 (Rank 6)</li></ul>For more on the ALEC-Laffer report, visit&nbsp;<a href="https://www.richstatespoorstates.org/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=top-10-states-for-franchise-growth-in-2024-insights-from-the-alec-laffer-report-2727705" target="_blank" rel="nofollow">https://www.richstatespoorstates.org/</a>. Find more information on top franchise opportunities at&nbsp;<a href="https://1851franchise.com/growth-club">https://1851franchise.com/growth-club</a>.&nbsp;&nbsp;

ALEC-Laffer Top 10 States - 1851 Franchise

ALEC-Laffer Report 2024: Top 10 States for Franchise Growth

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Each year, the ALEC-Laffer report ranks all 50 states based on both economic performance and outlook. This year, states like Utah, Arizona, Texas and Wyoming occupied the highest ranks.

Top 10 States for Franchise Growth in 2024: Insights from the ALEC-Laffer Report

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Children's Lighthouse

How Children’s Lighthouse Stands Out Among Other Children’s Education, Childcare, and Daycare Franchises

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The Growth Coach

The Growth Coach Franchise Costs, Fees, Profit and Data for 2025

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Why One Hour Heating & Air Conditioning Sees People as the Power Behind Franchise Growth

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Lawn Doctor

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How a 20-Year Industry Veteran Tripled His Sales With a Lawn Doctor Franchise

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Fitness Premier

The Secret to Fitness Franchise Success? It's Not Just the Workouts

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