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| CHAMBER NEWS |
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| CEOs Weigh in on Best, Worst States to Conduct Business In an annual polling by Chief Executive magazine, CEOs ranked New Jersey as the fifth worst state to do business, which is one spot lower than last year. CEOs ranked the states with no income tax as the top two states for business – Texas and Nevada – and those highly-regulated states as the worst two – California and New York. These same states, respectively, have been ranked as the best and worst two states to do business in for the past three years. Both the top third and worst third spots experienced a change this year. North Carolina, replacing Florida, returned to the third place after coming in fourth last year. Michigan, home of the struggling auto industry, took the worst third state spot, replacing Massachusetts. Chief Executive’s fourth annual “Best & Worst States” survey was conducted right after the New Year, and asked 605 top executives to evaluate their states on a broad range of issues, including proximity to resources, regulation, tax policies, education, quality of living and infrastructure. Providing additional insight to the evaluations, CEOs were also asked to grade each state based on the following criteria: 1) Taxation and Regulation, 2) Workforce Quality, and 3) Living Environment. “Overall, the message CEOs are sending is that over-taxed and over-regulated states are not conducive to the health of their businesses,” said Ed Kopko, CEO and publisher, Chief Executive Group. “This is the message they’ve been communicating since our poll started in 2005. However, in states like California and New York, where we are increasingly facing a shrinking population, the message seems to have fallen on deaf ears, as CEOs continue to be extremely frustrated with the business-unfriendly practices in these states.” |
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