Categories: Best & Worst States for Business

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 % 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 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

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.