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Washington Ranks as 33rd Best State for Business in Chief Executive’s “Best & Worst States for Business 2014” Survey


Strong job growth defies nation’s highest minimum wage at $9.32 an hour

FOR IMMEDIATE RELEASEGREENWICH, CT, May 14, 2014 – CEOs rated Washington the 33rd best state in which to do business, according toChief Executive magazine’s annual Best & Worst States for Business survey. The state jumped three positions from 36th in 2013.

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.

In Washington state, small businesses are adding jobs faster than in any other state in the country, according to CCNMoney.com. The jobless rate was just 6.7% in March, with 6,700 new jobs created, according to GeekWire. In Seattle, the jobless rate was even lower, at 5.2%. The city plans to raise it’s minimum wage to $15/hour.

“CEO perceptions are important, because there’s always something more we can do to improve our business climate,” Gov. Jay Inslee told Chief Executive in February (in response to last year’s ranking). “For example, we’re developing a regulatory-process index to track reductions in red tape and quantify savings to businesses …”

“We know that we can’t rely upon legacy or luck for the next Amazon, Boeing, Microsoft or Starbucks to land here,” Inslee continued. “That’s why we’re collaborating on efforts that improve our capacity to commercialize university research, encourage startups, produce a pipeline of highly trained workers with advanced skills, maintain modern public infrastructure and an efficient multi-modal transportation system, generate abundant and affordable clean energy, and do our best to ensure that our communities offer quality of life and opportunity for all residents.”

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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