TEXAS IS CEOs #1 CHOICE FOR BUSINESS
In an article published May 6, 2019, PR Newswire reported that a national poll shows that Texas is ranked top of the list for doing business in the United States.
"Chief executives—who traditionally favor low-tax, low-regulation environments—once again ranked Texas the best state in the U.S. for business, according to Chief Executive magazine's 2019 "Best and Worst States for Business" survey.
CEOs put Texas—which was number one last year as well—in the top slot, followed by Florida, Tennessee (up 3 slots since last year), North Carolina and Indiana. "Texas encourages business and gets out of the way," said one CEO who does business there, echoing sentiments from many of his peers. "They also have a low tax rate and lots of great people to hire. It is far easier to get tech people here than in CA because they want to move here."
California ranked last in the survey, followed by New York, Illinois, New Jersey and Connecticut. All five drew low marks from CEOs for taxes and regulation. California, in particular, was singled out by many of those polled thanks to the state's perceived hostility to business. "The rules, regulations and taxes for everything in California have been ridiculous," said one CEO who is now shying away from doing business there. "Every time we do a project there, we have some surprise rule or reg that costs both us and our clients a lot of money. Far worse than any other state."
Compared with 2018, Idaho made the largest improvement in the CEO survey, rising 9 spots to number 19, while Kansas, reckoning with a painful political environment and, as one CEO put it, a "degraded education system," dropped 10 slots.
The survey is among the most important barometers in the world of economic development nationally because it is based solely on the opinions of CEOs, says Dennis Cuneo, and veteran economic-development consultant and former Toyota executive who led the company's site selection efforts. "If you're not doing business in a state, your impressions are based on what other CEOs say about it, and they keep reinforcing one another," Cuneo says. "The Chief Executiveranking is the best one out there, because it reflects what decision-makers are saying. And it's what they think that counts."
For complete results, including individual state rankings and additional information about each state's business climate and economic development initiatives, please visit https://ChiefExecutive.net/best-worst-states-business/"