Chief Executive magazine recently released the results from its latest annual survey about best and worth states to do business, and the results are from Chief Executive magazine’s annual survey and are based on a variety of factors from taxation and regulation, to workforce quality and living environment. Hundreds of CEOs have ranked the best and worst states for business in 2011. Since 2005 Texas continues to hold the top spot as the best state to do business while California and New York remain on the bottom, ranking as the worst.
CEOs look to do business in areas based on a state’s attitudes and policies towards businesses which are essential to successful growth. Factors from the work ethic of the people to the schools in the area play important roles in their decision to start a business as well. Texas continues to rank high based on these factors as well as its labor market flexibility and low taxes. Over the last decade Texas has attracted 4.3 million people to the state and in the last year alone created over 250,000 jobs, attracting the largest amount of job seekers to their state then any other in the country.
A major quality that CEOs look for when entering into a state to do business is its flexibility in employment laws. The top ranking states possess qualities in allowing for company freedom in deciding employee terms and benefits. CEOs want to be able to hire the appropriate employee for the position and have found that most of the lower ranking states have implemented regulations that make this hard for their business.
Donlon, J P. "Best/Worst States for Business." Chief Executive 3 May 2011: n. pag. Web. 16 May 2011. <http://chiefexecutive.net/best-worst-states-for-business>.
