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10 Worst States for Business 2013: Slideshow

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Chief Executive

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.

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


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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.
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