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CEOs Rank Best, Worst States for Business

Texas, North Carolina, Florida Top List as Best States; California, New York, Illinois Rank as Worst


News provided by

Chief Executive Group

May 05, 2011, 08:10 ET

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GREENWICH, Conn., May 5, 2011 /PRNewswire/ -- For the seventh year in a row, CEOs rate Texas as the #1 state in which to do business and California as the worst. North Carolina maintained its #2 rank, while Florida rose three positions to the #3 spot. Tennessee fell one slot from last year to #4 while Georgia climbed two positions to claim the #5 rank.

Chief Executive magazine's annual "Best & Worst States" survey takes the pulse of CEOs on business conditions around the nation. For the 2011 survey, 550 CEOs from across the country evaluated the states on a broad range of issues, including regulations, tax policies, workforce quality, education resources, quality of living and infrastructure.

"A handful of states have made business-friendly policies a priority," says J.P. Donlon, Editor-in-Chief of Chief Executive magazine and ChiefExecutive.net. "These forward-thinking states are the exception rather than the rule and include Utah, Arizona, Florida, Tennessee, Louisiana, Texas and Oklahoma."

CEOs voted California as the worst state in 2011, with New York, Illinois, New Jersey and Michigan rounding out the bottom five.

"ABC -- Anywhere But California," said T.J. Rodgers, CEO of Cypress Semiconductor, a $668 million chip maker headquartered in San Jose, California, and with plants in 10 countries. "It's expensive, it's hostile to business, and environmental regulations are more of a drag on business than protecting the environment." Cypress Semiconductor's headcount in California peaked at 1,500. It's now down to about 600.

With finances in shambles due to the weak economy, many states have been increasing tax rates.

"Today's 'soak the rich' mentality hits business leaders especially hard," says Marshall Cooper, CEO of Chief Executive magazine and ChiefExecutive.net. "CEOs and entrepreneurs vote with their feet -- and also pack up jobs and investment with them when they leave."

For complete results, including individual state rankings, an interactive map and methodology, please visit chiefexecutive.net.


Best 5 States for Business

Rank 2011

Rank 2010

Texas

1st

1st

North Carolina

2nd

2nd

Florida

3rd

6th

Tennessee

4th

3rd

Georgia

5th

7th


Source: Chief Executive magazine (ChiefExecutive.net)


Worst 5 States for Business

Rank 2011

Rank 2010

California

50th

50th

New York

49th

49th

Illinois

48th

45th

New Jersey

47th

47th

Michigan

46th

48th


Source: Chief Executive magazine (ChiefExecutive.net)


Biggest Gainers

Positions Gained

Wisconsin

+17

Louisiana

+13

Indiana

+10


Source: Chief Executive magazine (ChiefExecutive.net)


Biggest Losers

Positions Lost

Alaska

-10

West Virginia

-8

Pennsylvania

-7


Source: Chief Executive magazine (ChiefExecutive.net)

About Chief Executive

Chief Executive Group produces Chief Executive magazine (published since 1977), ChiefExecutive.net, and conferences and roundtables that enable top corporate officers to discuss key subjects and share their experiences within a community of peers. The Group also facilitates the annual "Chief Executive of the Year," a prestigious honor bestowed upon an outstanding corporate leader, nominated and selected by a group of his or her peers. Visit http://www.chiefexecutive.net for more information.

Contact:
J.P. Donlon
Chief Executive magazine
203-930-2704
[email protected]

This press release was issued through eReleases(R).  For more information, visit eReleases Press Release Distribution at http://www.ereleases.com.

SOURCE Chief Executive Group

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