Connecticut Ranked Among America’s Strongest State Economies In New Study

According to a new study from WalletHub, Connecticut has landed among the top state economies in America, but the results reveal something pretty interesting about where the Nutmeg State stands compared to the rest of the country.

Get our free mobile app

The study looked at dozens of economic indicators, including job growth, business activity, innovation, startup opportunities and overall economic health. When all the numbers were crunched, Connecticut came in at No. 16 nationwide.

That's not exactly the economic equivalent of winning the Super Bowl, but it's also a lot better than many people might expect considering how often Connecticut residents complain about taxes, housing costs and the price of literally everything.

What's particularly Connecticut about these rankings is that they almost perfectly capture the state's personality. Connecticut didn't dominate in overall economic activity, and it didn't shine in economic health rankings. Where it really stood out was innovation potential.

In fact, Connecticut ranked seventh in the nation for innovation potential.

That feels very on-brand.

Connecticut has always had this strange identity crisis. We're not Silicon Valley. We're not Wall Street. We're not Texas-sized. But we're quietly loaded with aerospace companies, advanced manufacturing, medical technology firms, defense contractors and research institutions that most people never think about when discussing the state's economy.

While Massachusetts grabbed the top overall spot in the country, Connecticut still found itself ahead of many larger and faster-growing states. That's impressive when you consider the state's relatively small size.

The rankings also highlight something Connecticut residents probably already know: our economy doesn't always feel flashy, but it tends to be surprisingly resilient. The state continues to attract highly educated workers, major employers and industries focused on technology and innovation.

Of course, residents might argue that a strong economy doesn't always translate into an affordable life. You can have impressive economic numbers and still feel sticker shock every time you look at a mortgage payment, electric bill or grocery receipt.

Still, finishing 16th out of all 50 states and Washington, D.C. is nothing to sneeze at. In a country packed with economic powerhouses, Connecticut remains firmly in the upper tier.

Top 20 State Economies According to WalletHub

1. Massachusetts

2. Washington

3. Utah

4. California

5. Delaware

6. North Carolina

7. New York

8. Texas

9. Colorado

10. Florida

11. Idaho

12. Georgia

13. New Hampshire

14. Virginia

15. Arizona

16. Connecticut

17. Tennessee

18. South Carolina

19. Montana

20. Maryland