With all the good economic news coming out of Raleigh lately, we thought we’d add a little frosting to the cake.
A day before Forbes Magazine declared last week “A Great Week For North Carolina Taxpayers,” Chief Executive Magazine came out with its annual “Best and Worst States for Business” list, compiled by surveying over 500 CEOs across the United States.
This year, North Carolina was ranked the third best state in the country for business — behind only Texas and Florida — and up one notch from last year, edging out Tennessee, which is now fourth.
The business executives rated each state across three key different categories: 1) taxes and regulations, 2) quality of the workforce, and 3) living environment (which included such considerations as quality of education, cost of living, affordable housing, social amenities and crime rates).
Perhaps not coincidentally, Texas, Florida, North Carolina and Tennessee all have state legislatures with strong conservative Republican majorities. Conversely, states that ranked at the bottom for business (Massachusetts, New Jersey, Illinois, New York and California) have state legislatures dominated by liberal Democrats. According to a press release, CEOs gave these states the lowest ratings because of their high tax rates and regulatory environments.”The good states ask what they can do for you,” said one CEO. “The bad states ask what they can get from you.”
In 2014, Forbes Magazine also ranked North Carolina the third best state in the country for Business and Careers. And earlier this year, a senior economist at Wells Fargo said that “North Carolina’s economy has clearly shifted into high gear.”