The Five Best and Worst States for Business
Texas tops the list of best states for doing business, boasting strong job creation and the second-lowest taxes in the nation. Meanwhile, a state that typically ranks as one of the best for quality of living ranked as the worst for business.
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"[Texas] gets strong marks in all areas important for business creation, and has the second-lowest taxes in the nation. The state has created more jobs than any other -- about 250,000 last year," J.P. Donlon, editor-in-chief of Chief Executive, said in an article on ChiefExecutive.net.
The states that ranked lowest in the survey for having the least friendly business environment also happen to be two of the most popular states when it comes to lifestyle. California came in at No. 50, with New York not faring much better at No. 49. Illinois, New Jersey and Michigan rounded out the bottom five. "Not surprisingly, states with punitive tax and regulatory regimes are punished with lower rankings, and this can offset even positive scores on quality of living environment," Donlon said.
Compared to the rankings last year, Wisconsin and Louisiana posted the two biggest gains, with Wisconsin jumping 17 spots to No. 24. Alaska tumbled the most in the rankings from last year, landing at No. 31, from No. 21 in 2010.
Read more about the analysis on the best and worst states for business in 2011 at ChiefExecutive.net.