Behind The Sound Bite: BEST/WORST STATES FOR BUSINESS
Massachusetts has long had a reputation for being unfriendly to business. That reputation was reinforced early this month when Chief Executive, a print and online medium for corporate leaders, ranked the Bay State a very low 47th out of the 50 states in its annual survey of the best and worst states in which to do business. Is it deserved?
Why did Massachusetts rank so low?
The survey of chief executives rated the states on three factors: taxes and regulations, workforce quality and living environment, each on a scale of 1 (lowest) to 5 (highest). The Bay State rated a “2” on taxes and regulations, a “4” on workforce quality. Living environment rated a “3.”
One comment from the report: “California (which ranked last), Massachusetts and Vermont (38th) have enacted anti-business policies that are detrimental, especially to the medical device industry.”
But is that feeling widespread?
Not really. In its own annual survey, Forbes magazine ranked Massachusetts 18th, using six measurement criteria rather than three. Yes, the Bay State ranked last in business costs and middle-of-the-pack 23rd in regulatory environment. But it ranked first in quality of life, 18th in labor supply and 14th in economic climate.
Is that the best we can do?
Well, if you look at CNBC's survey from 2011, Massachusetts looks even better, ranking No. 6. CNBC, which developed its survey with the help of a variety of business groups, graded the states on 10 categories. The Bay State ranked in the top five in access to capital (2nd), technology and innovation (3rd) and education (4th), and 10th in quality of life. On the other hand, it ranked No. 41 in cost of living and cost of business.
So, what states are the best?
There are four states that ranked in the top 10 of each of the three surveys we looked at: Texas, North Carolina, Virginia and Utah. n
WBJ Web Partners
Most Recent
Most Recent
0 Comments