Colorado ranks second among the states for economic outlook and 10th for economic performance.

The American Legislative Exchange Council gave the state high marks for low tax rates, competitive workers’ compensation costs and the absence of a death tax.

The top five states for economic outlook are Utah, Colorado, Arizona, Virginia and South Dakota. The bottom five states are New Jersey, Maine, Rhode Island, Vermont and New York.

The economic performance portion was based on three variables: personal income per capita cumulative growth, from 1997 to 2007; absolute domestic migration cumulative, from 1998 to 2007; non-farm payroll employment cumulative growth, from 1997 to 2007.

Of these three, Colorado ranked 27, nine and 11, respectively.

To view the full report, visit the council’s Web site.

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