Looking to start a new woman-owned business, open a new office to expand an existing business or thinking about doing some business traveling? Then you may want to pay close attention to this article.
CEOs from around the country were polled for Chief Executive magazine’s annual “Best & Worst States Survey” and the lone star state of Texas came out on top as the best place to do business. Not surprising since the state managed to do so for seven years prior, making this the eighth consecutive year the state has held the title.
Coming in at No. 2 is Florida. The state, which appeared at No. 3 on the list in 2011, rose one spot and knocked North Carolina to No. 3. Rounding out the top five are Tennessee and Indiana.
On the lower end of the survey are the states voted the worst places to do business. Those states include Michigan at No. 46, Massachusetts at No. 47, Illinois at No. 48, New York at No. 49 and California closing out the survey at No. 50. Unfortunately, California has consistently ranked in the bottom. It appeared at No. 50 on last year’s list.
“CEOs tell us that California seems to be doing everything possible to drive business from the state,” J.P. Donlon, Editor-in-Chief of Chief Executive magazine and ChiefExecutive.net said in a statement. “Texas, by contrast, has been welcoming companies and entrepreneurs, particularly in the high-tech arena.”
“Local economic development corporations, as well as the state Texas Enterprise Fund, are providing attractive incentives,” he added. “This, along with the relaxed regulatory environment and supportive State Department of Commerce adds up to a favorable climate for business.”
States seeing considerable gains in the survey include Louisiana (which shot up a whopping 14 positions), Mississippi, West Virginia, Ohio and North Dakota.
The “Best & Worst States Survey,” conducted from January 24 to February 26, 2012, measures the sentiment of CEOs on business conditions around the nation. For this year’s survey, 650 CEOs from across the country evaluated the states on a broad range of issues, including regulations, tax policies, workforce quality, educational resources, quality of living and infrastructure. The full results can be found on ChiefExecutive.net.