Citing high taxes and onerous regulations, Chief Executive magazine named New York state the 49th best state for business in its May issue.
New York was ranked ahead of California based on a survey of CEOs by the magazine, published by Greenwich-based Chief Executive Group L.L.C.
“New York”™s taxes on the job creators are broken and taxing authorities are too bureaucratic,” said unnamed CEOs who spoke to the magazine. “Lots of regulations and high taxes make states like New York bad options.”
The article stated New York is an awful place to operate a facility or employ people due to the state”™s out-of-control spending, budget mismanagement and corruption.
“We will do almost anything possible to minimize our exposure to these anti-business environments,” said unnamed CEOs. “It is nearly impossible to make a good profit, and not worth the management effort and the investment.”
The magazine gave New York one star out of five for taxations and regulations, three stars for workforce quality and 2.5 stars for living environment.
John Ravitz, executive vice president of The Business Council of Westchester said that businesses see Westchester as a pro-business environment.
“I think it is critical to continue to attract businesses to come, stay and grow,” Ravitz said. “That message is starting to take hold. We need to sell Westchester and make improvements.”
Ravitz said Albany needs to provide mandate relief and cut regulations and unnecessary fees to make the state more business friendly.
“We”™ve seen some improvements but more have to happen,” Ravitz said. “We have to stop putting more taxes on the backs of businesses. Things are getting better; we have to really keep pushing to sell Westchester to businesses.”
Amy Allen, managing director of the Westchester County Association, said she was not surprised by the state”™s low ranking.
“This is nothing new,” Allen said. “We have high taxes, high energy costs, and too many regulations. The numbers don”™t lie. This is more of the same. These rankings are not good for anybody.”
Michael Durant, New York state director for the National Federation of Independent Businesses, said the state earns its low ranking.
“The best way to change perception is to change the truth,” Durant said in a news release. “Despite all the slick television advertising and the star-powered endorsements, the truth is that New York remains one of the worst places in the country to do business.”
Durant said New York needs lower taxes and fewer regulations.
