R.I. ranks 37th on best states for businesses list

RHODE ISLAND ranked 37th - or 14th worst - in a survey of the best and worst states for businesses by Chief Executive magazine. / COURTESY CHIEF EXECUTIVE MAGAZINE
RHODE ISLAND ranked 37th - or 14th worst - in a survey of the best and worst states for businesses by Chief Executive magazine. / COURTESY CHIEF EXECUTIVE MAGAZINE

PROVIDENCE – While Rhode Island ranked 14th worst in a ranking of the best and worst states for businesses, it did move up three spots compared with last year.
More than 500 CEOs were surveyed by Chief Executive magazine for the 11th annual survey.
States were measured across three categories, including taxes and regulations, quality of workforce and living environment. Texas ranked first, followed by Florida, North Carolina, Tennessee and Georgia.
California was ranked the worst state for businesses.
Among the New England states, New Hampshire ranked the best at 21st. Maine was 30th. Rhode Island, at 37th, ranked higher than Vermont (41), Connecticut (45) and Massachusetts (46).
In a snapshot about the Ocean State, it said CEOs showed their pleasure with the state’s reduction in corporate income taxes “by bumping it up three spots in the rankings.” It also said that “business leaders are beginning to feel that the governor is on their side.” Key companies such as CVS Health Corp., Hasbro Inc., Textron Inc. and United Natural Foods Inc. were noted.
Among the categories, Rhode Island fared best in living environment, earning three out of five stars, while it only received 2.5 stars for workforce quality and one star for taxes and regulations.

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