Utah is tops for 2013 economic outlook, ALEC says

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Utah holds the No. 1 spot for states with the best economic outlook in 2013, according to a report released Thursday by the conservative American Legislative Exchange Council.

"Utah's economic policies have remained strong, and because of [its] firm commitment to economic growth and competitiveness, [the state has] ranked first in all [five previous] editions of our report," said Jonathan Williams, director of ALEC's Center for State Fiscal Reform and co-author of "Rich States, Poor States: ALEC-Laffer State Economic State Competitive Index."

States with low tax rates, limited government regulations and right-to-work laws were most likely to have a better economic outlook than states with high tax rates and lots of regulations, the report said.

Rounding out the top five states were North Dakota, South Dakota, Wyoming and Virginia.

Minnesota, California, Ilinoise, New York and Vermont were the bottom five states, the report said.