Annual state ranking just released by nation’s CEOs shows stability up and down, but reveals significant pressure from newcomers Arizona.
BRENTWOOD, Tenn., April 26, 2022 /PRNewswire/ — The perennial favorite of CEOs Texas once again in the lead General director‘s Best and Worst States for Business list this year, continuing an unbroken streak since the list’s debut in 2001.
This is a testament to the strong reputation of the state among business leaders in the country. Unlike other lists of this type, General directorRankings are compiled from a single source: the opinions of CEOs and business owners in the United States. Nearly 700 CEOs, with representation from every state, participated in this year’s survey, conducted in January 2022. The full report is available here: https://chiefexecutive.net/best-worst-states-business/
Rounding out the top 5 are Florida and Tennesseeretaining second and third place again this year, Arizona at #4 (up 6 places since last year) and North Carolina #5 (minus 1). CEOs say low taxes, low cost of doing business, talent pools and a higher quality of life are among the reasons for their ranking of these five states.
Amid a resurgence of large-scale economic development projects throughout the country’s industrial heartland, Indianarated 6and overall, remained the highest-ranked state in the Midwest. Utahrated 10and overall, was the first state in the Mountain West region. Delawareranked 15andwas the highest-ranked state in the Mid-Atlantic region, and New Hampshire#21, the first state in the northeast.
The biggest movers this year, besides Arizonaincluded #13 Colorado (+7) and #22 Oklahoma (+6). CEOs praised the Centennial State for its balanced leadership, business-friendly policies, top talent, and quality of life, while others acknowledged the simplicity of the state’s tax code and regulations from the most early, which they believe pave the way for business. to do business without having to jump through hoops.
Ranking shows #12 Caroline from the south (-6) and #26 Louisiana (-7) have both fallen out of favor this year. CEOs say these states offer fewer opportunities to recruit talent than many of their neighbors, and the potential for natural disasters increases risk there.
At the very bottom of the list was #46 Washington#47 New Jersey#48 Illinois#49 New York and #50 California – all unchanged in their rankings from previous years. High taxes, high regulation, and high cost of living continue to taint state opinion at this end of the scale.
SOURCE General Management Group
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SOURCE General Management Group