Texas, Florida Top Chief Executive Magazine's 2019 CEO Poll of Best and Worst States for Business

STAMFORD, Conn., May 6, 2019 /PRNewswire/ -- Chief executives—who traditionally favor low-tax, low-regulation environments—once again ranked Texas the best state in the U.S. for business, according to Chief Executive magazine's 2019 "Best and Worst States for Business" survey.

CEOs put Texas—which was number one last year as well—in the top slot, followed by Florida, Tennessee (up 3 slots since last year), North Carolina and Indiana. "Texas encourages business and gets out of the way," said one CEO who does business there, echoing sentiments from many of his peers. "They also have a low tax rate and lots of great people to hire. It is far easier to get tech people here than in CA because they want to move here."

California ranked last in the survey, followed by New York, Illinois, New Jersey and Connecticut. All five drew low marks from CEOs for taxes and regulation. California, in particular, was singled out by many of those polled thanks to the state's perceived hostility to business. "The rules, regulations and taxes for everything in California have been ridiculous," said one CEO who is now shying away from doing business there. "Every time we do a project there, we have some surprise rule or reg that costs both us and our clients a lot of money. Far worse than any other state."

Compared with 2018, Idaho made the largest improvement in the CEO survey, rising 9 spots to number 19, while Kansas, reckoning with a painful political environment and, as one CEO put it, a "degraded education system," dropped 10 slots.

The survey is among the most important barometers in the world of economic development nationally because it is based solely on the opinions of CEOs, says Dennis Cuneo, and veteran economic-development consultant and former Toyota executive who led the company's site selection efforts. "If you're not doing business in a state, your impressions are based on what other CEOs say about it, and they keep reinforcing one another," Cuneo says. "The Chief Executive ranking is the best one out there, because it reflects what decision-makers are saying. And it's what they think that counts."

For complete results, including individual state rankings and additional information about each state's business climate and economic development initiatives, please visit https://ChiefExecutive.net/best-worst-states-business/

About Chief Executive/Chief Executive Group
Chief Executive Group is the leading community for business leaders worldwide. It publishes Chief Executive magazine (published since 1977), ChiefExecutive.net, Corporate Board Member and BoardMember.com, as well as conferences and roundtables that enable CEOs to discuss key subjects and share their experiences with their peers. The Group also runs the Chief Executive Network, the leading CEO membership organization arranged by industry, and facilitates the annual "CEO of the Year," a prestigious honor bestowed upon an outstanding corporate leader, nominated and selected by a group of peers. Visit www.ChiefExecutive.net for more information.

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SOURCE Chief Executive