(The Center Square) – CEOs and business owners around the country don’t look favorably on the business climate in Illinois, according to a new survey.
Based on polling by Chief Executive magazine of nearly 700 CEOs and business owners from every U.S. state, Illinois ranked 48th in the country for best business states. Only California and New York fared worse.
Ted Dabrowski, president of the nonpartisan, nonprofit organization Wirepoints, said there are several reasons why Illinois is not business friendly.
“We’re too corrupt. Our taxes are way too high. We have way too many regulations and we have massive debts, and that is plenty of reason enough for companies to not want to locate in Illinois, not to mention the state is shrinking in population so it’s not a growth state to put your business in,” Dabrowski said.
According to the survey, Texas, Florida and Tennessee are the top three states for businesses. The author said the combination of a fast-growth population and a low-tax, low-regulation business climate is proven catnip for companies.
Texas has reported growth based on a broadening of its economy to automobile production, digital technology development as well as the traditional industries of oil, gas and refining.
Similarly, Florida and Tennessee have welcomed continuing streams of new corporate investments.
The article also suggests states that largely stayed open for business or worked with companies to stay open for business during the COVID-19 pandemic through safety protocols, instead of shutting down like Illinois, fared much better in the rankings.
Geography did not play much of a factor in the rankings as Illinois’ neighbor Indiana ranked sixth in the country for best business states, a point not lost on Dabrowski.
“It’s not just Indiana, the other Midwest states are doing relatively well and rank in the middle of the pack in the country or a little bit better than that,” said Dabrowski. “So Illinois is the outlier. Illinois is the one that sticks out like a sore thumb.”
