Maine Ranked Among Worst State Economies in America, New Report Finds

We tend to love writing about positive reports that shine a beautiful light on Maine. However, that is not always the case. And that couldn't be more evident than in a recent study that places Maine near the very bottom when it comes to having a healthy state economy.

WalletHub.com, the popular personal finance site, recently released its rankings of state economies, and it was nothing but bad news for the Pine Tree State. Maine finished 48th out of 51 entries (Washington, D.C., was also included) and dead last in New England. Not great, Bob!

Maine scored a chilly 33.76 out of a possible 100 points. That's a pretty rough report card. The rankings were based on three major categories: Economic Activity, Economic Health, and Innovation Potential. Those categories were then broken down into 28 subcategories to produce the most accurate results possible. You can read more about the methodology here.

Where Does Maine's Economy Shine and Struggle?

The best ranking Maine could muster was in Economic Health, where it finished 25th. The good news is that Maine isn't facing some of the same unemployment and uninsured worker challenges as many other states. Still, a middle-of-the-pack finish isn't exactly something to celebrate.

Next up was Maine's Innovation Potential ranking, where the state landed a disastrous 41st. Apparently, high-tech entrepreneurship hasn't fully arrived in Maine just yet. It would certainly be nice to see the state attract more research and development firms, but that doesn't seem likely to happen anytime soon.

And finally, with a ranking of 50th, we have Economic Activity. That's right, Maine is nearly dead last in what is arguably the most important category of them all. Then we wonder why so many young Mainers leave the state to start their careers elsewhere. Maine needs more opportunities across every industry because the current situation simply isn't sustainable.

Not much more can be said other than this feels like a punch to the gut. According to this report, Maine has a long way to go if it hopes to improve its economic standing.

How Does Maine's Economy Compare to Other New England States?

As I mentioned, Maine not only struggled nationally but also finished last among the New England states. Here's how the rest of the region performed:

1. Massachusetts 
13. New Hampshire
16. Connecticut
29. Vermont
47. Rhode Island

It's not surprising to see Massachusetts near the top of the rankings. The bigger story might be New Hampshire cracking the Top 15. Apparently, it pays to "Live Free or Die."

READ MORE: Who’s Driving Maine’s Workforce? Meet the Top 25 Private Employers

As for the bottom spot, that dubious honor belongs to West Virginia. I guess those country roads aren't bringing the economy home.

You can find the complete rankings here.