Chief Executive Magazine’s annual survey of the Best & Worst states for business puts California in a familiar spot: #50. California was named the worst place to do business while Texas retained its position as the best.
The survey was conducted with 650 CEOs from across the country who were asked to evaluate states on a number of issues such as regulations, tax policies, workforce quality, educational resources, quality of living and infrastructure.
The magazine’s editor–in-chief, J.P. Donlon said, “CEOs tell us that California seems to be doing everything possible to drive business from the state.”
According to a release that accompanied the issuing of the 2012 survey, “CEOs surveyed said California’s poor ranking is the result of its hostility to business, high state taxes and overly stringent regulations, which is driving investment, companies and jobs to other states. According to Spectrum Locations Consultants, 254 California companies moved some or all of their work and jobs out of state in 2011, an increase of 26 percent over the previous year and five times as many as in 2009.”
This survey is another in a long line that highlights California’s inhospitable business climate. Earlier this week on this site, Rob Lapsley, president of the California Business Roundtable discussed a poll exclusive to California that revealed similar results. One would hope that the legislature would get the message that improving the business climate would also boost jobs and provide revenue needed to fund services.
As the CEO of the Chief Executive magazine, Marshall Cooper, noted, “This survey shows that states that create policies and incentives are rewarded with investment, jobs and greater overall economic activity.”
Survey results, including individual state rankings on multiple criteria, can be found on the Chief Executive website.