Texas and Florida Top Chief Executive Magazine's 2024 CEO Survey of Best & Worst States for Business

NASHVILLE, Tenn., April 24, 2024 /PRNewswire/ -- CEOs surveyed for Chief Executive magazine's annual list of the Best and Worst States for Business has once again ranked Texas and Florida as the best states for business, with Texas maintaining its number one position on the list as it has since the list debuted in 2001. The rankings, released in the Spring issue of Chief Executive, reflect the states' continued ability to attract companies of all sizes and industries.

The ranking is based on a survey of more than 500 CEOs across the country who were asked to rate states based on their opinion of how easy it was to do business in that state versus others. Texas and Florida's high rankings showcase unmatched business-friendly regulatory environments and economic diversification.

"Texas and Florida's consistent ranking at the top of lists for best states to do business in reaffirms their status as economic powerhouses," said Chris Chalk, Publisher, Chief Executive magazine. "Their pro-business environments, robust infrastructure, and skilled workforce continue to attract businesses and drive economic growth. These states serve as prime examples of how strategic policies and investments can create opportunities for success."

While there's been a diverse mix of economic growth in the Lone Star state, semiconductor manufacturing is making big waves, with manufacturing facilities drawing over $30 billion in investments and thousands of new jobs from companies like Samsung and Texas Instruments.

Florida remains the fastest-growing state in the nation. The influx of companies, low cost of living and quality of life are attracting many residents from the Northeast in search of "job opportunities and paradise," said Craig Richard, president and CEO of Tampa Bay EDC.

Here's what some of the CEOs we surveyed had to say about why they ranked Texas and Florida so highly:

"Texas is business friendly, lower taxes, and good work force."

"Business friendly, ease of market entry, balanced politics, educated talent that remains in the state."

"The ease of getting started, the lack of government red tape and the lack of excessive taxation."

"Texas is easy to do business with good laws to protect both buyer and seller."

"The growth rate is tremendous due to the elimination of a state tax."

"Friendly business climate, favorable labor laws, good tax structure, attractive to hire and retain talent and talent is generally available in those states."

"Despite economic headwinds in the furniture business, these states continue to generate revenue for our business. Florida in particular has seen growth in an overall down market."

"Florida is incredibly business friendly and has business policies that make sense. Florida's business climate is attractive and their people want to work."

The Top 5 States for 2024:

1. Texas
2. Florida
3. Tennessee
4. Arizona
5. North Carolina

The Bottom 5 States for 2024:

46. Washington
47. New Jersey
48. Illinois
49. New York
50. California

Biggest Gain, 2023-24:
North Dakota, + 13 to 16th place

Biggest Loss, 2023-24:
Colorado, - 16 to 29th place

Enhanced Coverage online: https://chiefexecutive.net/best-worst-states-business/

About Chief Executive Group

Chief Executive Group, a leading community for business leaders, exists to improve the performance of U.S. CEOs, CFOs, CIOs, CHROs and corporate directors. We publish Chief Executive magazine, ChiefExecutive.net, Corporate Board Member magazine, BoardMember.com, StrategicCFO360.com, StrategicCIO360.com and StrategicCHRO360.com, and run some of the nation's most essential peer-networking communities, including The CFO Leadership Council, Chief and Senior Executive Networks, Corporate Board Member Network and The American College of Corporate Directors.

For media inquiries:
Dan Bigman, Editor, Chief Executive, 203-889-4980, [email protected]

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SOURCE Chief Executive Group