Texas Voted Best State For Business 2010
May 17, 2010
Chief Executive magazine’s annual Best & Worst States survey measures business conditions in all 50 states, evaluating proximity to markets and resources, regulation, tax policies, workforce quality, education resources, quality of life and infrastructure.
Top executives rate Texas as the No. 1 state in which to do business for the fifth year in a row.
Top 10 states selected as the best places to do business are:
1. Texas
2. North Carolina
3. Tennessee
4. Virginia
5. Nevada
6. Florida
7. Georgia
8. Colorado
9. Utah
10. South Carolina
Bottom 5 states identified as the worst places to do business are:
1. California
2. New York
3. Michigan
4. New Jersey
5. Massachusetts
By contrast, Texas, the second-most populous state and the world’s 12th largest economy, is where 70 percent of all new U.S. jobs have been created since 2008. Unsurprisingly, it scores high in all the areas CEO’s value most. “You feel like state government understands the value of business and industry to create jobs and growth,” observed one CEO. Its tax credits and incentives to business choosing to locate or expand are among the most aggressive. The Texas Enterprise Fund is by far the largest deal-closing fund of any state, with grants totaling $377 million disbursed in 2008.
Little wonder then that while Texas gained over 848,000 net new residents in the last 10 years, according to the Census Bureau, California lost 1.5 million. New York State’s net loss exceeded 1.6 million – the highest of any state. High-tax, big- government New Jersey ranked fourth, with a net loss of almost 460,000, enough to drop it from 10th to 11th place in population.
Source: Chief Executive
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