Colorado Moves Up Five Spots, Coming in as the 11th Best State for Business
CEOs praise the quality of life and a growing technology sectorGreenwich, Conn., May 7, 2015/PRNewswire/ -- Chief executives, who favor pro-growth, low-tax states, ranked Colorado as the 11th best state in the U.S. for business, an improvement of five places compared to 2014, according to Chief Executive magazine’s annual “Best and Worst States for Business” survey.
In the annual survey, completed by 511 CEOs across the U.S., states are measured across three key categories to achieve their overall ranking: Taxes and regulations, quality of the workforce, and living environment, which includes such considerations as quality of education, cost of living, affordable housing, social amenities and crime rates.
Colorado excels with a high quality workforce and strong quality of life for employees, but high regulations and taxation continue to present challenges to attract new businesses to the state.
One CEO stated, “Colorado is an excellent environment for recruiting quality people.” However, the effect of legalizing marijuana is problematic for attracting new business to Colorado.
Companies with headquarters or large holdings in Colorado include Sports Authority, Hensel Phelps Construction, ProBuild Holdings and Cargill.
Colorado is among 4 Western states made the top 20, while 6 landed a spot on the top 30:
State governments use the survey results to help determine how to improve their regulatory environment to attract more businesses, while corporations use the data to decide where to build facilities and attract vibrant workforces.
In addition to CEO ratings on taxation and regulation, workforce quality, and living environment, the survey also provides data on state GDP, unemployment rate, domestic migration, and state/local tax burden.
For complete results, including individual state rankings on multiple criteria, CEO comments, methodology and more, please visit http://chiefexecutive.net/best-worst-states-business/2015/.
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