California Last Again in CEO Business Climate Ranking
Silicon Valley / San Jose Business Journal , May 3, 2012
California finished at the bottom again this year in Chief Executive magazine's annual "Best & Worst States Survey."
Texas was ranked No. 1 again this year.
The ranking is based on responses from 650 CEOs across the country on a broad range of issues, including regulations, tax policies, work force quality, educational resources, quality of living and infrastructure.
"CEOs tell us that California seems to be doing everything possible to drive business from the state. Texas, by contrast, has been welcoming companies and entrepreneurs, particularly in the high-tech arena," said J.P. Donlon, editor of the magazine, in a prepared statement.
The magazine said that CEOs surveyed said California's poor ranking is because of its hostility to business, high state taxes and overly stringent regulations, which it said is driving investment, companies and jobs to other states. According to Spectrum Locations Consultants, 254 California companies moved some or all of their work and jobs out of state in 2011, an increase of 26 percent over the previous year and five times as many as in 2009.
One Silicon Valley company that is moving is CafePress Inc., which said this week that it will take its headquarters to Kentucky. The company said ...