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(WBIR) A study released last week shows the cost of goods and services in the Volunteer State goes farther than other states in the U.S.

The study from the Tax Foundation, a Washington D.C.-based 'think tank' shows the value of $100 state-by-state. In Tennessee, that $100 is really $110.25, which is 16th in the nation.

The organization told 10News the study is based on 2013's tax numbers, and said the results were based on three other factors: value of land, transportation, and tax and business laws. In Tennessee, with the Mississippi River and Interstate 40 in the boundaries, the cost of goods will be less.

"A very important thing to recognize is that within this region, people earn relatively less than the national average," University of Tennessee economics professor Matt Murray commented on the study. "So lower costs of living are also associated in Tennessee and other southern states result in lower earnings."

Tax Foundation added with the state's high sales tax, the value of $100 is still more than other states, like California and Hawaii.

To see the results, click on the Tax Foundation's website.

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