Texas came in first place in yet another ranking based on growing jobs and the economy. In a survey of CEOs, Texas, for the fourth year in a row, ranked as the #1 best place to do business:
As the nation’s unemployment figures continue to reach new heights, Chief Executive magazine’s 2009 "Best & Worst States" survey took CEOs’ pulse on what the best and worst places for jobs and business growth are. For the fourth year in a row, CEOs rated Texas as the #1 state to do business and California as the worst.
Chief Executive's fifth annual survey asked 543 CEOs to evaluate their states on a broad range of issues, including proximity to resources, regulation, tax policies, education, quality of living and infrastructure. Providing additional insight to the evaluations, CEOs were also asked to grade each state based on the following criteria: 1) Taxation & Regulation, 2) Workforce Quality, and 3) Living Environment.
Texas maintained its #1 spot in the ranking for the fourth year in a row, as North Carolina, Florida, Georgia and Tennessee all jumped up in ranks, taking the #2, 3, 4 and 5 spots, respectively.
“Texas and the Carolinas are great for business,” said one CEO. “South Carolina's Research Authority is exemplary in terms of creating new economic growth and Texas is strategically centered, has low taxes, and outstanding demographics.”
As a testament to this statement, in contrast to much of the nation, in fiscal 2008, Texas’ gross state product grew by 4.2 percent, compared to 1.9 percent for the national economy.
Conclusion: The U.S. could see a huge outflow of educated, productive, upper-middle-class families from the high-tax urban blue states to more congenial places.
Investment implications? Look at two vibrant states that have no income taxes and have reasonable house costs. One is Washington State, especially in the urban centers of Seattle, Tacoma and Spokane, as well as in Vancouver, Wash., a suburb of Portland, Ore., which is the perfect tax arbitrage: no income tax in Washington, no sales tax in Oregon. The second state is Texas, which also has no income tax. Snoop around the high-tech areas of Dallas and Austin, as well as the better neighborhoods of energy-producing Houston.
Governor Perry has filled out his bracket for the 2009 NCAA Men's Basketball Tournament and now you can compete against him!
Simply visit the Governor's Facebook page, become a supporter, and follow the link posted on his wall. Once you add the free CBSsports.com Brackets application, you can join the Governor's group. Make your picks for your bracket, and wait for the games to begin! You can track your success, along with the Governor's, automatically in the group.
Not a member of Facebook?
Joining is free and easy. Become a supporter of the Governor on Facebook and tell your friends about the competition!
The winner of the bracket challenge gets to meet Governor Perry and get a picture taken with him.
During these tough economic times, Texas employers are working harder than ever to move products to market, make payroll and create jobs. The last thing they need right now is government burdening them with higher taxes and expanded obligations.
That is exactly what the unemployment insurance stipulations in the new federal stimulus bill will do, ultimately increasing the burden borne by Texas employers and directly affecting the people they hire (and those they won't be able to hire as a result).