Utah ranks fifth on index of 'economic freedom'

Utah is fifth in a Pacific Research Institute ranking of economic freedom among the 50 states.

Published in association with Forbes magazine, the new Economic Freedom Index rates states based on more than 100 variables, including taxes and regulatory obstacles.

Kansas jumped from 10th in 1999 to take the top spot as the most economically free state, followed by Colorado, Virginia and Idaho. At the bottom of the list were Rhode Island, Connecticut, California and New York.

The report surmised that if all states were as free as Kansas, the annual income of an average working American would rise 4.42 percent, or $1,161, putting an additional $87,541 into his or her pocket over a 40-year working life.

The 2004 index updates and refines the report "Economic Freedom in America's 50 States," published by the State Policy Network in 1999.