Most Favorable, Least Favorable Business Climates
Submitted by CARPE DIEM
“A View from Corporate America: Winning Strategies in Economic Development Marketing” is the fifth installment in a series of surveys of senior U.S. executives and their advisors. Similar surveys were conducted by DCI in 1996, 1999, 2002 and 2005.
From the 2008 report, the six states with the most favorable business climates are Texas (highest ranking), North Carolina, Geogia, Florida/Tennessee (tie) and Nevada.
Among executives who named Texas as having a favorable business climate, the factors mentioned most frequently are: Tax climate (31%); Labor/Workforce (Cost and availability) (29%) and Pro-business climate (26%). Among those who named North Carolina as having a favorable business climate, the factors mentioned most frequently are: Labor (Education levels, cost) (30%); Pro-business climate (22%); and Low costs (19%), mirroring the reasons provided by those who named Georgia: Labor (Low cost, good quality) (32%); Pro-business climate (29%) and Low costs (29%).
The five states with least favorable business climates are Califorinia (lowest ranking), New York, Michigan, New Jersey and Massachusetts.
California was cited for having “too much regulation and an anti-business climate” by 58% of respondents, while 37% mention “high costs” and 28% said “taxes.” Among those who named New York as having a “least favorable” business climate, the factors mentioned most frequently are taxes (65%), costs (32%) and anti-business regulation/climate (23%). Michigan’s poor economy (34%), high taxes (31%), and unions (17%) earned it a position in this list.
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