NASHVILLE, Tenn., April 24,
2024 /PRNewswire/ -- CEOs surveyed for Chief
Executive magazine's annual list of the Best and Worst States
for Business ranked Utah as the
top Western state and the ninth-best state for business overall,
moving up from last year's tenth spot. The rankings, released in
the Spring issue of Chief Executive, reflect Utah's ongoing efforts to create a welcoming
environment for businesses 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.
Utah's high ranking is due in part
to strategic policies and smart fiscal decisions.
"Utah's stellar performance as
a top state for business underscores its exceptional qualities,"
said Chris Chalk, Publisher,
Chief Executive magazine. "Its dedication to economic growth
and prosperity sets a strong example, making Utah a standout destination for businesses of
all sizes and industries."
Large tech and manufacturing deals demonstrate the growth in the
Beehive State and underscores its favorable ranking. Texas
Instruments announced in February
2023 it will invest $11
billion and create up to 800 jobs at a semi-conductor wafer
fabrication plant in Lehi, while
Proctor & Gamble Paper Products Company announced
in February 2023 a $400 million capital investment.
"Professional, scientific and technical services remain one of
the fastest growing sectors in the state, said Theresa Foxley, president and CEO of the
Economic Development Corporation of Utah. "The growth in Utah is the result of top-notch higher
education institutions and a thriving innovation economy that has
been expanding over the past decade."
Here's what some of the CEOs we surveyed had to say about why
they ranked Utah so highly:
"Large workforce, low taxes and restrictions, quality of
life"
"Utah's workforce is
exceptional."
"Friendly, welcoming business growth environment in these
states. Utah has created an
environment for active collaboration between industry and
end-users. The Utah Advanced Materials and Manufacturing
Initiative or UAMMI, is a collective group of industry
representative, private industry, Govt organizations and higher
education, which provides integration assistance between interested
parties. UAMMI has been an overwhelming success in the
State of Utah."
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/Chief Executive Group
Chief Executive Group, a leading community for business leaders
worldwide, 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. Learn more at
ChiefExecutiveGroup.com.
For media inquiries, please contact:Dan Bigman, Editor,
Chief Executive, 376648@email4pr.com, 203-889-4980
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SOURCE Chief Executive Group