California ranks worst state for business
May 6, 2011
For the seventh year in a row, California tops the list as the worst state to do business, according to Chief Executive magazine’s annual “Best & Worst States” survey which took the pulse of 550 CEOs across America.
The executives evaluated the states on a variety of issues, including regulations, tax policies, workforce quality, education resources, quality of living, and infrastructure.
Texas maintained its rank at number one — the best state for business. North Carolina and Florida rounded out the top three.
California is joined at the bottom by New York, Illinois, New Jersey and Michigan which make up the five worst states for business.
“A handful of states have made business-friendly policies a priority,” said J.P. Donlon, Editor-in-Chief of Chief Executive magazine.
Cypress Semiconductor CEO T.J. Rodgers told the magazine, “ABC — Anywhere but California. It’s expensive, it’s hostile to business, and environmental regulations are more of a drag on business than protecting the environment.”
The $668 million chip maker headquartered in San Jose is accustomed to business environments across the world, having plants in 10 countries.
“Today’s ‘soak the rich’ mentality hits business leaders especially hard,” says Marshall Cooper, CEO of Chief Executive magazine. “CEOs and entrepreneurs vote with their feet — and also pack up jobs and investment with them when they leave.”