In yet another survey illustrating the vastly different economic policies of California and Texas, Chief Executive magazine released its annual "Best & Worst States" survey Thursday, noting Texas to be the No. 1 state in which to do business and California the worst.
For ideal business locations, North Carolina and Florida took the No. 2 and No. 3 spots, respectively, while other major U.S. economic powerhouse New York was ranked as the second worst state for business, followed by Illinois in third.
The survey reflects a number of other studies on tax structures, entrepreneurial viability, and regulatory environments that have positioned the two economic rivals at opposite ends of the spectrum.
"Anywhere But California," said T.J. Rodgers, CEO of Cypress Semiconductor, a California-based computer chip maker. "It's expensive, it's hostile to business and environmental regulations are more of a drag on business than protecting the environment."
The survey questioned more than 500 CEOs from across the country on topics ranging from regulations to taxes, with Texas acknowledged for its cultural aversion to high taxes. Currently the Lone Star Sate is moving to balance a $27 billion shortfall without raising taxes, which is already encouraging many California entrepreneurs to consider forming an LLC in Texas.
Tags : ca, operations, small business management, tx
Posted: May 6th, 2011