The WSJ reports in the past five years California has lost a net 150,000 residents to Texas. In the same time span Texas gained 400,000 jobs while CA lost 640,000. Tx was responsible for 47% of national net job creation.
All the state in the top 10 are pure red, that is with republican control of both the Executive branch and the Legislature, and nearly all the bottom 10 have long been run by Dems.
Ca. is now deemed the most ruinously contentious place to operate, 254 companies moved jobs out of state in 2011, five times as many as in 2009. With the passage of prop 30 raising taxes up the wazoo, including a new top rate of 13.3% for 7 years—up from 10.3%. An in depth investigation of the management of each state, checking credit ratings, budget deficits, GDP growth, education, exports, unemployment, debt per capita and taxes the WSJ was able to calculate how successful a state had managed its resources.
CA. in the #50 spot can be found in almost all of the states faring poorly in the study. The only state to have a substandard Standards and Poor’s credit rating of A- until Illinois joined the bad credit club in January thanks to its $96.8 billion unfunded liabilities to 5 states pension systems. Moody’s sorry rating of A2 for Illinois places it in the same league as the impoverished third-world country of Botswana.
Most of the states in the top 20 are right to work states. Louisiana is the most improved state, jumping 32 spots in just 5 years, in 2006 it ranked 47th it is now 13th. They have active government push to reduce taxes and regulation and to encourage new industry to relocate to the state.
Florida enacted business tax and regulatory reforms that have contributed to the creation of more than 140,000 private sector jobs and an unemployment drop of 2.1%. a United Van Lines study of customer migration patterns found people deserting Blue States, NJ had the highest ration (62%) of people moving out compared to those moving in followed by Illinois (60%) and NY (58%) NC, SC,AZ and Fl have the highest ratios of people moving in. NY lost over 1.6 million and CA lost 1.5 million.
The top ten worst states for business:
Sources—limbaugh, forbes, wsj, chief executive, usa today