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New York Ranks Second to Last in Chief Executive’s “Best & Worst States for Business 2014” Survey


Texas is No. 1, followed by Florida, Tennessee, North Carolina and South Carolina

FOR IMMEDIATE RELEASEGREENWICH, CT, May 12, 2014 – New York CEOs have spoken—and they’re not happy. They rated 49th out of 50, making it the second worst state in which to do business for the fourth year in a row, according toChief Executive magazine’s annual Best & Worst States for Business survey. New York also ranked last three times, in 2007, 2008 and 2009.

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.

“New York, and in particular NYC, needs to be more supportive of businesses, or all the jobs will leave with the businesses,” one CEO said. “Too many taxes, too much regulation, and too much government corruption,” said another.

New York’s high-tech startup, STARTUP-NY, designed to bring jobs to New York, poses some concerns. Critics feel that it is too narrowly focused in terms of the types of companies they are trying to attract and the places where they can be located, and have complained about everything from the cost of the advertising to the political motivations behind it.

For complete results, including individual state rankings on multiple criteria, CEO comments, methodology and more, visithttp://chiefexecutive.net/2014-best-worst-states-for-business.

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Chief Executive magazine

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