Chief Executive magazine ranks New York as the 49th worst state for business in the opinion of CEOs questioned.
The ninth annual survey of CEOs blamed New York’s high taxes, bureaucracy and a regulatory system that is difficult to navigate. It found New York just better than California. Most larger states with strong labor unions faired poorly in the rankings.
CEOs liked Texas most for the ninth straight year, followed by Florida, North Carolina, Tennessee and Indiana.
The ranking comes as New York Gov. Andrew Cuomo is continuing a “New York Open for Business” campaign with commercials that say the Empire State is now far more welcoming of business and employers.