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North Carolina moves up a notch in state rankings for business

| May 19, 2015 | Business Formation & Planning |

David Letterman has made top ten lists a fixture on his Late Show. Now that he is retiring, what will happen to the daily rundown? Maybe it will be just too popular to sunset. We’ll just have to see.

Letterman’s lists are always humorous. Not all listings are. But there is one that is likely will bring a smile to the lips of anyone considering starting a business in North Carolina and facing concerns about the business-related legal issues, such as structure, taxes, compliance and contracts. North Carolina ranks number three in the eyes of many chief executive officers.

That’s the finding of the 11th annual poll of CEOs by Chief Executive Magazine. The survey of 511 executives nationally ranks Texas and Florida first and second. North Carolina moves up a step. It was number four last year.

The rankings are based on the CEOs’ assessments of three factors considered to affect a state’s business environment: taxes and regulations, quality of workforce and general quality of life.

The magazine credits North Carolina with leapfrogging other states in terms of job creation, laptop exports and agriculture. Six companies are specifically cited as being contributors to the high ranking: Lowe’s Companies Inc., Goodrich, VF Corp., Duke Energy Corporation, Progress Energy and Reynolds American.

By contrast, the bottom five states in the nation in the view of the CEOs are these:

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

Such a good ranking for North Carolina does not mean that the going is always easy for someone planning to begin a new business or grow his or her current portfolio. Consulting an experienced attorney can help pave the way to success.

Source: Citizen-Times, “CEOs call North Carolina 3rd best state for business,” Caitlin Byrd, May 8, 2015

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