“We’re Number 50!” In Friendliness to Business, California Comes in Last Place
To rank America’s Top States for Business, CNBC “put all 50 states through a rigorous test and graded them based on more than 60 measures of competitiveness in 10 broad categories. Each category is weighted according to how frequently states use them as a selling point in economic development marketing materials. That way, our study ranks the states based on the attributes they use to sell themselves. CNBC’s criteria was developed with guidance from a diverse array of business and policy experts and official government sources, along with input from the states themselves. And our metrics are based on publicly available data from a variety of sources.”
In the category of “business friendliness,” California ranks number 50, dead last with an “F” rating. In the category of “cost of doing business,” California also comes in at 50 and manages an overall ranking of 32, closer to bottom-feeder Rhode Island than Virginia, ranked number one overall.
This is not exactly bragging material, but not to worry. California still has the highest income and sales taxes in the nation, and recently imposed a new tax on gasoline. In May, the state senate approved Senate Bill 258, which acknowledges that “California is experiencing increased homelessness” and provides “services for pets whose owners are without a home.”