Categories: Best & Worst States for Business

Hawaii is the 41st Best State for Business 2012

No. 41

Hawaii

Taxation and Regulations

Workforce Quality

Living Environment

Based on CEO Survey by ChiefExecutive.net

Key Metrics
State GDP % Growth ’07-’10: -0.56 % Growth ’07-’10 v. Nat’l Avg. (-0.33%): -0.23 Unemployment Unemployment Rate Dec. 2011 %: 6.60 Comparison with Nat’l Rate (8.50%): -1.90 Domestic Migration Domestic Net Migration ’00-’09: -29,022 Rank: 33 State Government Debt per Capita Fiscal Year ’10 ($): 5,682 State & Local Gov’t Employees per 10k Residents: 559.77 State-Local Tax Burden Rate (%): 9.62 Compared to Nat’l Avg. (9.8%): -0.18

Key Metrics

State GDP

% Growth ’07-’10: -0.56
% Growth ’07-’10 v. Nat’l Avg. (-0.33%): -0.23

Unemployment

Unemployment Rate Dec. 2011 %: 6.60
Comparison with Nat’l Rate (8.50%): -1.90

Domestic Migration

Domestic Net Migration ’00-’09: -29,022
Rank: 33

State Government

Debt per Capita Fiscal Year ’10 ($): 5,682
State & Local Gov’t Employees per 10k Residents: 559.77

State-Local Tax Burden

Rate (%): 9.62
Compared to Nat’l Avg. (9.8%): -0.18

Key Companies
Hawaiian Electric Industries Inc. Cyanotec Corp Alexander & Baldwin Hawaiian Holding

Development Trend Indicator: Neutral
Tax-and-regulate approach to business also stifles entrepreneurial gains.

CEO Comments
“Hawaii and California are incredibly unfriendly towards business. Too many regulations, restrictions, and new taxes. Local government does not care about your problems.” “Hawaii is over-regulated and over-taxed.”

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.