Texas Ranks 1st in Chief Executive magazine’s Annual CEO Poll, “Best & Worst States for Business 2014 Survey”
Florida, Tennessee, North Carolina and South Carolina round out the top five
FOR IMMEDIATE RELEASE – GREENWICH, CT, May 8, 2014 – For the tenth year in a row, CEOs rated Texas as the No. 1 state in which to do business, according to Chief Executive magazine’s annual Best & Worst States for Business survey, released today.
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.
“Texas is the best state for business and I don't see anything to slow [it] down,” one CEO said. “The education and quality of eligible employees is excellent right now. Business is booming and growing quicker and more rapidly in 2014 than any other year. It's an exciting time in Texas.”
Texas also ranked as one of seven best states for startups. The Economist reports that it takes just six to eight weeks to open up a new restaurant in Texas, compared to two years in California.
The Lone-Star state tied for 5th in the Kauffman Index and ranked 11th in the Tax Foundation list, including No. 7 in the crucial “individual income” category. In the last legislative session, the legislature passed a $1-million tax deduction for Texas businesses.
“Texas is not just good at one or two of the necessary things it takes to make a state great for business, it has the whole package—a combination of low business taxes, quality workforces and excellent living environments,” said Marshall Cooper, CEO of Chief Executive magazine and ChiefExecutive.net. “The question now becomes whether Texas can improve its infrastructure to keep up with its business growth.”
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.
Source: Chief Executive magazine/ChiefExecutive.net
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