In my column in the Puget Sound Business Journal today (subscriber content), I comment on Washington’s favorable ranking in a new study by the U.S. Chamber of Commerce.

Washington ranks 10th on its measure of entrepreneurship and innovation, scoring well on STEM (science, technology, engineering and mathematics) job concentration and job growth. Other high marks were awarded for export intensity, business taxes, family income, high-speed broadband, and educational attainment.

I quote study co-author Joel Kotkin.

Ultimately, there is only one route to sustainable state economies, and that is through broad-based economic growth,” he writes. “The road to that objective can vary by state, but the fundamental goal needs to be kept in mind if we wish to see a restoration of hope and American optimism…”

As we’ve written before, there’s no single measure of economic competitiveness, which varies among industries and regions. Business costs remain high here. And the state fares poorly on the Economic Freedom Index created by the Mercatus Center.

KING 5 reports on our state’s drop in the CNBC “best places” list released earlier this week.

Washington was one of the biggest losers in CNBC’s annual study ranking the nation’s top states for business.  The Evergreen State fell five places dropping to 20th in the rankings released on Tuesday.

One of the biggest reasons the state dropped in the rankings revolves around Washington’s low markings in its cost of doing business.  This category includes a company’s tax burden, utility costs and costs of wages.  Washington ranks 43rd in this category.