Connecticut dropped four places on Forbes Best States for Business and Careers list this year, ranking as the 39th state in the nation.
The state ranked the 47th in business costs, 37th in regulatory environment and 35th in economic climate.
The magazine noted the cost of business is 14 percent higher than the national average, partly because energy costs are 79 percent higher. On a positive note, the state ranked 3rd for quality of life.
Utah,Virginia and North Dakota topped the list while Hawaii, Rhode Island and Maine were ranked last.