keyboard_arrow_up

Maine Slips One Spot to 36th in Chief Executive’s “Best & Worst States for Business 2014” Survey


Fiscally tight Gov. LePage is battling tax increase efforts by the legislature

FOR IMMEDIATE RELEASEGREENWICH, CT, May 15, 2014 – CEOs rated Maine the 36th best state in which to do business, according toChief Executive magazine’s annual Best & Worst States for Business survey. The northeastern most U.S. state slipped one position from last year.

The Best & 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.

Maine ranked lower than New Hampshire (24th), but higher than the remainder of its neighbors, including Vermont (39th), New York (49th), Massachusetts (46th), Rhode Island (40th) and Connecticut (44th).

The state’s GDP growth is lower than the national average at 0.5%. It’s unemployment rate is also lower at 6.2%, but it’s state-local tax burden is higher at 10.3%.

The heavily forested land is home to INDEXX Laboratories, Wright Express and Camden International. Looking forward, the University of Maine forecasts that young lobster replenishment in the area will slow down within the next few years.

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

About Chief Executive

Chief Executive Groupproduces Chief Executive magazine (published since 1977), and chiefexecutive.net, including e-newsletters and online content, as well as conferences and roundtables that enable top corporate officers to discuss key subjects and share their experiences within a community of peers. The Group also facilitates the annual "CEO of the Year," a prestigious honor bestowed upon an outstanding corporate leader, nominated and selected by a group of peers. Visitwww.chiefexecutive.net  for more information.

 

Contact:

J.P. Donlon

Editor in Chief                                                                                                

Chief Executive magazine

203-930-2704

jpdonlon@chiefexecutive.net