After legalizing recreational marijuana, legislation develops first banking system to accommodate the sector
FOR IMMEDIATE RELEASE – GREENWICH, CT, May 12, 2014 – CEOs ranked the rocky mountain state the 16th best state in which to do business, according to Chief Executive magazine’s annual Best & Worst States for Business Survey.
TheBest & Worst States Survey gauges the sentiment of CEOs on a variety of measures that they themselves have viewed as critical. These include the tax and regulatory regime, the quality of the workforce, and the quality of the living environment. Five hundred CEOs participated in the 2014 survey. The rankings are crucial, as CEO sentiment drives investments in offices, factories and other facilities that bring jobs to a region.
In addition to the business activity that legalized marijuana is driving, Colorado is also considered a good state for startups, ranking No. 6 in the Kaufmann Index with its legacy of technology and new-age food companies. Four of Colorado’s cities—Boulder, Fort Collins-Loveland, Denver and Colorado Springs—were considered top U.S. metro areas for high-tech startup density.
CEO’s comments were not as accommodating. “With Colorado's new drug laws, I would definitely hesitate to locate a new business there,” one CEO said. “Colorado is trying to imitate California,” said another. “We are Colorado headquartered, but the majority of our capital expansion plans will be in Texas.”
“Colorado is definitely going to suffer some growing pains over the next year,” said Marshall Cooper, CEO of Chief Executive magazine and ChiefExecutive.net. “To move progress in a positive, forward-thinking direction, the federal government will need to keep the best interests of businesses and residents in mind.”
For complete results, including individual state rankings on multiple criteria, CEO comments, methodology and more, visit http://chiefexecutive.net/2014-best-worst-states-for-business.
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