Washington is the 37th Best State for Business 2012

No. 37 Washington Taxation and Regulations Workforce Quality Living Environment Based on CEO Survey by ChiefExecutive.net Key Metrics State GDP  [...]

May 2 2012 by ChiefExecutive.net


No 34: Washington

No. 37

Washington

Taxation and Regulations
Workforce Quality
Living Environment

Based on CEO Survey by ChiefExecutive.net

Key Metrics
State GDP 

  • % Growth ’07-’10: 0.21
  • % Growth ’07-’10 v. Nat’l Avg. (-0.33%): 0.54

Unemployment

  • Unemployment Rate Dec. 2011 %: 8.50
  • Comparison with Nat’l Rate (8.50%): 0.00

Domestic Migration

  • Domestic Net Migration ’00-’09: 239,037
  • Rank: 9

State Government

  • Debt per Capita Fiscal Year ’10 ($): 4,098
  • State & Local Gov’t Employees per 10k Residents: 527.25

State-Local Tax Burden

  • Rate (%): 9.31
  • Compared to Nat’l Avg. (9.8%): -0.49
Key Companies
  • Costco
  • Microsoft
  • Amazon.com
  • Starbucks
  • Weyerhauser
Development Trend Indicator: Neutral
Lack of income tax strains to hide other financial and regulatory snares for business.
CEO Comments
“Oregon, where my business is located, makes it nearly impossible to grow a business because of the tax laws here. We have a 9% state personal income tax that drives good people from the state. Washington, our neighbor, has no income tax and forces high-income quality people to move out of our state and contribute to the neighbor state.”

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