10 Worst States for Business 2013: Slideshow

Yet again, California takes the title of the worst state in which to do business. Here are the other states that didn’t perform well in this year’s survey.

May 6 2013 by ChiefExecutive.net


Number 8 Number 10

No. 49New York

Taxations & Regulations

Workforce Quality

Living Environment

Based on CEO Survey by ChiefExecutive.net

Key Metrics
State GDP 

  • % Growth ’10-’11: 1.1
  • % Growth ’10-’11 v. Nat’l Avg. (1.5%): -0.4

Unemployment

  • Unemployment Rate Dec. 2012 %: 8.2
  • Comparison with Nat’l Rate (7.80%): 0.4

Domestic Migration

  • Domestic Net Migration ’10-’11: -113,757
  • Rank: 51

State Government

  • Debt per Capita Fiscal Year ’10 ($): 6,694
  • State & Local Gov’t Employees per 10k Residents: 634.5

State-Local Tax Burden

  • Rate (%): 11.1
  • Compared to Nat’l Avg. (9.9%): 1.21
Key Companies
  • IBM
  • AIG
  • Pfizer
  • PepsiCo Inc.
  • JP Morgan Chase
  • Citigroup
  • Verizon
  • Phillip Morris
  • Goldman Sachs
  • American Express
Development Trend Indicator: Neutral
Gov. Cuomo seems to be less concerned now about business-friendliness.
CEO Comments
“New York’s taxes on the job creators is broken and taxing authorities are too bureaucratic–a glimpse of everything bad in the federal government; California is perpetually bankrupt and relies on market rallies to fix their budget. Their best and brightest are moving to the sunbelt with low tax burdens and pro-business governments. Only thing these states have going for them is the immigrant influx and the established industries already there.”

“90% of our business is in New York State, so I don’t have any good feedback on other states.”

Sources:
Bureau of Economic Analysis
Bureau of Labor Statistics
NewGeography.com
The Tax Foundation