Missouri is one of 10 states leading the nation in improving results for taxpayers by using cost-benefit analyses to drive policy decisions, according to a new report released this week. Gov. Jay Nixon today said the report from the Pew-MacArthur Results First Initiative demonstrates the state's commitment to making government as efficient and effective as possible.
"This report demonstrates how the responsible and fiscally disciplined approach we've taken over the past four and a half years is generating big returns for taxpayers and our economy," Gov. Nixon said. "That same commitment to fiscal discipline has kept our spotless AAA credit rating intact and our unemployment rate below the national average for 46 months straight. By continuing to pursue proven, pro-growth policies, we will keep our economy growing and our state moving forward."
The study, "States' Use of Cost-benefit Analysis: Improving Results for Taxpayers," is the first comprehensive study of how all 50 states and the District of Columbia analyze the costs and benefits of programs and policies, report findings, and incorporate the assessments into decision-making.
According to the study, "Ten states led the way nationally in the production, scope and use of cost-benefit analysis to support data-driven policymaking...The top states - Florida, Kansas, Minnesota, Missouri, New York, North Carolina, Utah, Virginia, Washington and Wisconsin - each generally released more studies than mixed or trailing states, systematically assessed the costs and benefits of multiple program alternatives, and used results to inform policy or budget decisions."
The study, which can be found here, covered a four-year period from 2008 to 2011. The Pew-MacArthur Results First Initiative is a project of The Pew Charitable Trusts and the John D. and Catherine T. MacArthur Foundation.
Earlier this month, Missouri was again ranked in the Pollina Corporate Top 10 Pro-Business States for 2013, an annual study considered the most comprehensive in the economic development industry. Among other factors, Missouri received "A" grades from Pollina for its corporate tax index, unemployment insurance, and electricity costs. This is the fourth consecutive year that Missouri has been listed in the top ten.