May 9, 2017

Survey: CT ranked 5th worst state for business

PHOTO | Chief Executive Magazine
PHOTO | Chief Executive Magazine

Connecticut's business climate is among the 10 worst in the nation, according to the latest CEO-driven rankings by Chief Executive Magazine.

Published by the Stamford-based Chief Executive Group, the 13th annual "Best and Worst States for Business" rankings reflect more than 500 CEO's perceptions of the best and worst states. Those views are based on key measures including workforce, taxes/regulation, living environment, and best communication of business incentives.

States also were ranked by major industry, including health care, technology, financial services and retail, among others.

Connecticut was ranked 46th overall, the same as last year. The state ranked low for taxation and regulation, but fared better on such measures as workforce quality and living environment.

One CEO's comment about the Nutmeg State noted, "While we have challenges, the workforce is solid and the quality of life is strong. Its biggest challenge is location between New York and Boston, as well as a poorly run legislature on both sides of the aisle."

States that ranked worse than Connecticut were California, New York, Illinois and New Jersey. Texas, Florida and North Carolina were the top three states for business for the third straight year.

Because states themselves have varying priorities and because of the slow pace of change in many state governments, the same states have held top five spots for six years running, said Marshall Cooper, CEO of Chief Executive Group, publisher of Chief Executive magazine and ChiefExecutive.net.

For full results, visit the website.

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