10 Worst States for Business 2012: Slideshow

No 6: New Jersey

No. 6

New Jersey is the 6th Worst State for Business 2012

Taxation and Regulations
Workforce Quality
Living Environment

Based on CEO Survey by ChiefExecutive.net

Development Trend Indicator—Positive
Gov. Christie’s boldness rallies business, but possible minimum-wage boost looms.
CEO Comments
“New Jersey is just bad.”

“New Jersey has completely turned around its regulatory environment for the automobile insurance market for the better over the past seven years.This sustained improvement has promoted a highly competitive and efficient market that is benefiting consumers.”

“NJ makes it very difficult to do business due to all the taxes, regulations and hoops you have to jump through. We’re building a large building and had to pay a $20,000 fee just to be able to connect to city water. This was not a plumbing fee or permit, this was just a paperwork fee. Had to pay an $800 fee to move our own dirt from one spot, to another spot and then back to the original spot. This is what makes NJ so hard to do business.”

“NY, NJ – vibrant work environment.”

“I am not sure NJ wants to do business.”

“Removing barriers (taxes/regulation/premits/process/red tape) make States more attractive. This is a wake-up call to States like NY, NJ and CT who can no longer rely on their prximity to NYC as a reason a company must do business there. Today, you don’t have to live near the Big Apple to do business just as efficiently.”

“When unions rule the state, we stay away. When politicians see business as a big honey-pot to hit whenever they want money, we stay away. When politicians run to regulations as a way to solve the problems of the world, we stay away. We will go to serve a market, but couch our services in such a way that we limit our corporate and personnel exposure…i.e. California NJ and NY are too big to avoid. However, we need not live there to provide services. We find a small partner and become a major part of their revenue. We can get the services we need with an arms length relationship. Every business seeks to fix its costs and add incremental revenue.”

Click here to see an in-depth analysis of the Best/Worst States for Business 2012

 

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Chief Executive magazine (published since 1977) is the definitive source that CEOs turn to for insight and ideas that help increase their effectiveness and grow their business. Chief Executive Group also produces e-newsletters and online content at chiefexecutive.net and manages Chief Executive Network and other executive peer groups, as well as conferences and roundtables that enable top corporate officers to discuss key subjects and share their experiences within a community of peers. Chief Executive facilitates the annual “CEO of the Year,” a prestigious honor bestowed upon an outstanding corporate leader, nominated and selected by a group of peers, and is known throughout the U.S. and elsewhere for its annual ranking of Best & Worst States for Business. Visit www.chiefexecutive.net for more information.