New Hampshire
New Hampshire Tops Economic Freedom Index Again
Autumn reflection along the Portsmouth New Hampshire waterfront. It is a historic seaport and … [+]
The positive relationship between economic freedom and economic growth is one of the most robust empirical relationships in economics. This is good news for New Hampshire, which ranks number one in the latest edition of the Fraser Institute’s Economic Freedom of North America (EFNA) index.
Each year, the Fraser Institute releases its EFNA index, which ranks the 50 U.S. states, 10 Canadian provinces, and 32 Mexican states based on how free their citizens are to engage in economic activity. The three primary areas analyzed for the index are government spending, taxes, and labor market freedom. Data for the report are from 2022, which are the most recent data available due to lags in reporting across the various states and countries. Among the three countries, U.S. states are freer on average, holding every top 40 spot except for one: Alberta, Canada is tied for 12th overall. Every Mexican state is ranked below every U.S. state and Canadian province.
In the United States, New Hampshire is the freest state, followed by South Dakota and Florida. New York is the least free state, ranked just below California and Hawaii (see figure below).
Top and bottom 5 states on EFNA index
As discussed in the report, the most economically free U.S. states experienced faster population growth and more employment growth from 2013 to 2022. Population growth in the states ranked in the top 25% was 8.3% over this period. For those ranked in the bottom 25%, it was only 0.8%. Similarly, employment growth in the states ranked in the top 25% was 12%, while it was only 4% for those in the bottom 25%. Per capita incomes also grew faster on average in states that increased their economic freedom over this period, as shown in the figure below.
Average growth in per capita income and economic freedom
So, what can state policymakers do to increase economic freedom in their state? One option is tax reform. High tax rates impose large financial burdens on workers, businesses, and consumers and distort choices, such as whether to work more or invest rather than spend. Lower tax rates allow people to keep more of their money and reduce distortions, which is why lowering rates increases economic freedom.
Louisiana ranks 23rd on this year’s index, but it is likely to do better next year due to its recent tax reforms. In a recent special session that ended a couple weeks ago, Louisiana’s legislature approved a flat 3% individual income tax rate, eliminating the previous top rate of 4.25% that applied to income over $50,000. It also lowered the corporate income tax rate to a flat 5.5% from a top marginal rate of 7.5%. To offset some of the lost revenue, the sales tax rate was increased from 4% to 5%. Unfortunately, other pro-growth tax reforms that eliminated tax credits for restoring historic buildings and the film industry were defeated.
Reducing regulation is another way states can boost economic freedom. While regulation can provide benefits, too much regulation restricts consumers’ choices and imposes unnecessary burdens on businesses. America’s inability to build housing and energy and transportation infrastructure is a perfect example of what happens when regulation runs amok.
Idaho is a great example of how a state can reduce its regulatory burden. Since 2019, it has eliminated or simplified 95% of its regulations through a comprehensive process that requires agencies to periodically review regulations and eliminate or reform those that are not working. Today, it is one of the least regulated states in the country and its economy is booming: Its real GDP grew by 5.9% on an annualized basis—the highest in the country—according to the most recent data from the Bureau of Economic Analysis.
A thriving economy benefits everyone—workers, consumers, and entrepreneurs—and government has a role to play in protecting individual economic choices so people are free to innovate and create new products and services. State officials who want to improve their state’s economy should focus on increasing economic freedom.
A Massachusetts man was flown to the hospital after he was struck by a car when he stepped out of his vehicle in the breakdown lane of Interstate 93 in Londonderry, New Hampshire, on Saturday morning.
State police say 40-year-old Felix Matos Medina, of Lawrence, had stopped on the right side of I-93 south at Exit 5 just before 11 a.m. to investigate a possible mechanical issue. He was struck shortly after he stepped out of his vehicle by a Chevrolet Malibu and sustained serious injuries.
Medina was taken by medical helicopter to Lahey Hospital and Medical Center in Burlington, Mass., police said. There was no immediate update on his condition.
I-93 southbound was closed near Exit 5 for about 30 minutes to facilitate the medical helicopter’s landing. One lane remained closed for several hours to accommodate crash reconstruction and on-scene investigation.
The driver who struck Medina, identified as David Jodoin, stopped at the scene and is cooperating with investigators, according to police. No charges have been filed at this time, but all aspects of the crash remain under investigation at this time.
Anyone with information that may assist the investigation is asked to contact Trooper Evan Puopolo at 603-451-9784.
State police are also reminding all New Hampshire drivers that Sherrill’s Law requires motorists approaching a stopped vehicle displaying warning signals to slow down and give plenty of space. Drivers are also required to move out of partially or wholly blocked lanes when it’s safe to do so.
New Hampshire
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CONCORD, NH — Here are the Top 10 most popular stories and posts from around New Hampshire Patch sites last week.
- Concord Police Investigating The Death Of A Young Child In The City’s South End Neighborhood: Update: Dakin Street was closed to traffic for several hours during an investigation of a child found dead at a duplex on Friday morning.
- Facebook Marketplace Cleaning Services Hire Or Sex Sale Gone Bad Leads To Stabbing In Manchester: Court docs: Frank Miller of Manchester and Kendra Gokey, a homeless woman, were arrested on first-degree assault and other charges Sunday.
- Man Shot During Dispute On South State Street In Downtown Concord: Video: Breaking: A man was shot in the leg Saturday during a dispute; cops have South State Street from Thompson to Concord closed to traffic.
- Fast Food Chain Closing Locations | Queen City Killing | Meth Distributor Pleads Guilty | More: Nearby News: Also: Best sandwich shop in NH; untimely death; crashes; knife attack indictments; firefighter injured in explosion released from hospital.
- After The Snow Sunday And Monday, More Is Coming To New Hampshire, Forecasters Say: After the storm that is expected to bring 8 to 12 inches of snow to the state, more snowstorm fronts are expected to arrive this week.
- 6 To 15 Inches Of Snow Heading To The Granite State Sunday Night; Wind Gusts Up To 45 mph: Forecasters: Heavy, blinding snow is expected in central and southern New Hampshire, as well as the Seacoast, from Sunday night to Monday morning.
- National Fast Food Chain To Close Hundreds Of Restaurants; New Hampshire Locations May Be Impacted: The chain that closed hundreds of locations in 2024 expects to shutter approximately 360 nationwide during the first half of 2026.
- Police Arrest Man On Felony Charges After South State Street Shooting In Downtown Concord: Follow-Up: David Anziani faces first-degree and second-degree assault, reckless conduct, and felonious firearm charges after a shooting on Saturday.
- Hollis Teen Faces Assault Charge, Accused Of An ‘Unprovoked’ Attack In Downtown Nashua In November: Connor Cook was arrested in late December after being accused of punching another man in the face on Main Street and then fleeing the scene.
- How Much Income Is Needed To Be Considered ‘Rich’ In New Hampshire?: A new analysis details the annual household income required to be considered among the top 10 percent of earners in the Granite State.
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