CEOs appreciate North Carolina's low taxes and minimal business regulations
GREENWICH, Conn., May 7, 2015 /PRNewswire/ — Chief executives showed that they favor pro-growth, low-tax states when they ranked North Carolina as the third best state for business in Chief Executive magazine's 2015 "Best and Worst States for Business" survey.
In the annual survey, completed by 511 U.S. CEOs, states are measured across three categories to achieve their overall ranking: Taxes and regulations, quality of the workforce, and living environment, which includes such considerations as quality of education, cost of living, affordable housing, social amenities and crime rates.
CEOs reported that North Carolina offers an exceptional living environment, while companies benefit from a high quality workforce and low taxes and regulations. One executive reported, "I respect North Carolina's early initiatives to encourage corporate emigration."
Companies headquartered in North Carolina include Bank of America, Burt's Bees, Champion, Deere-Hitachi and Duke Energy. Airplanes are the most valuable product exported from North Carolina, according to the Triangle Business Journal, while laptops are the most common exported item. Tobacco, cotton and soybeans are North Carolina's top three crops.
North Carolina also ranked third in the U.S. this year for the number of families moving into the state for jobs, according to the Journal.
With their ocean ports and other strong transportation options, Southeast states dominated the top 5 ranking this year:
2 Florida
3 North Carolina
4 Tennessee
5 Georgia
7 Louisiana
State governments use the survey results to help determine how to improve their regulatory environment to attract more businesses, while corporations use the data to decide where to build facilities and attract vibrant workforces.
CEO ratings, in addition to information on taxation and regulation, workforce quality, and living environment, also provide data on state GDP, unemployment rate, domestic migration, and state/local tax burden.
For complete results, including individual state rankings on multiple criteria, CEO comments, methodology and more, please visit http://chiefexecutive.net/best-worst-states-business/2015/.
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