California is the Worst State for Business 2012

No. 50

California

Taxation and Regulations
Workforce Quality
Living Environment

Based on CEO Survey by ChiefExecutive.net

Key Metrics
State GDP 
  • % Growth ’07-’10: -2.08
  • % Growth ’07-’10 v. Nat’l Avg. (-0.33%): -1.74

Unemployment

  • Unemployment Rate Dec. 2011 %: 11.10
  • Comparison with Nat’l Rate (8.50%): 2.60

Domestic Migration

  • Domestic Net Migration ’00-’09: -1,490,105
  • Rank: 49

State Government

  • Debt per Capita Fiscal Year ’10 ($): 4,008
  • State & Local Gov’t Employees per 10k Residents: 504.56

State-Local Tax Burden

  • Rate (%): 10.59
  • Compared to Nat’l Avg. (9.8%): 0.79
Key Companies
  • Apple Inc.
  • Chevron Corporation
  • Visa
  • Google
  • Oracle Corp.
  • McKesson
Development Trend Indicator: Negative
Sucking sound continues as frustrated businesses leave state for friendlier climes.
CEO Comments
“California continues to head in the wrong direction as its tax policies will drive more businesses and people to relocate in other states. State politicians feel business and commerce are “necessary evils” that provide the funds to enable pursuit of their misguided agendas.”

“California government is difficult to work with and very bureaucratic. Taxes and regulation are high and unruly.”

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

Chief Executive

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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