Texas Is No. 1 State for Business;
It Continues to Outshine All Other States in Driving Business
The longhorn state leads the U.S. in Chief Executive’s Best & Worst States for Business
and is the only Southwest state to make the top 5
Greenwich, Conn., May 7, 2015/PRNewswire/ -- Chief executives have shown that they favor pro-growth, low-tax states, by ranking Texas the best state for business in Chief Executive magazine’s 2015 “Best and Worst States for Business” survey. This is Texas’ 11th year on top.
In the annual survey, completed by 511 CEOs across the U.S., states are measured across three categories to achieve their overall ranking: Taxes and regulations, quality of the workforce, and living environment, including such considerations as quality of education, cost of living, affordable housing, social amenities and crime rates.
Following Texas in the top 5 are Florida, North Carolina, Tennessee, and Georgia. Since the recession began in December 2007, 1.2 million net jobs have been created in Texas, while 700,000 net jobs were created in the other 49 states combined.
According to one CEO, “California and Oregon are essentially anti-business, whereas Texas and Tennessee do everything possible to make business comfortable and more successful.”
Another CEO told Chief Executive, “Texas is pro-business in terms of taxes, licensing, and incentives, as well as quality of workforce.” A third respondent reported that, “Texas ‘gets it’ with incentives, workforce development and low taxation, but everyone cannot move there.”
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.
States in the Southwest region ranked as follows:
36 New Mexico
CEO ratings, in addition to information on taxation and regulation, workforce quality, and living environment, also provide 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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