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2014 Best & Worst States

New York, the 49th Best State for Business, Is Losing Remington to Alabama

Remington is reducing its work force in Ilion, NY, south of Utica and east of Syracuse, where the gun maker has operated a factory for nearly 200 years. New gun laws, which are much stricter than in the south, are likely playing a role.

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Arizona is the 7th Best State for Business 2014

Arizona, which has been making news of late with the expansion of Apple’s sapphire plant in Mesa, has been cultivating high-tech innovation through its Innovation Challenge, which awards $250,000 to winning companies to start up their business in the sixth largest state.

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5 Great States for Biotech Companies

The bioscience industry has become one of the most innovative and important economic drivers in the U.S., now accounting for more than 1.6 million jobs, nurturing a well-paid and highly skilled workforce and maintaining an American edge in a cluster of technologies that likely will be as important to this century as computerization was to the last.

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New Jersey is the 47th Best State for Business 2014

New Jersey’s credit rating was recently downgraded by Moody’s in conjunction with an $807 million budget deficit, resulting in pension payments and school aid being at risk.

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Ohio is the 27th Best State for Business 2014

Under the previous governor, Scott Walker, Ohio became the No. 5 job creator in the nation and the No. 1 in the Midwest. Unemployment is now 6.5%, lowest in Ohio since June 2008. Likewise, Ohio has gone from an $8 billion deficit to a $1.5 billion surplus over the same period.

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Virginia is the 11th Best State for Business 2014

With China lifting its 7-year ban on Virginia poultry, the state’s GDP may be on the rise. In addition, Dominion Virginia Power received a $47 million grant from the U.S. Dept. of Energy to build wind turbines off of Virginia Beach, which will bring jobs to the area.

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Hawaii is the 43rd Best State for Business 2014

Tourism for the first quarter was down slightly from the same period last year. Hawaii lawmakers passed an increased minimum wage bill earlier this year, increasing it from $7.25 to $10.10. And in April, the governor approved a bill that would allow the University of Hawaii to grow a crop of hemp, for use in biodiesel. The program should provide new jobs on the island.

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Texas Is the Best State for Business 2014

For the tenth year in a row, CEOs rated Texas as the No. 1 state in which to do business. The Lone Star state also ranked as one of the seven best states for startups.

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