Republican governors are once again leading the way in attracting private sector investment and jobs to their states, according to Chief Executive magazine’s 2020 Best & Worst States for Business survey. CEOs across the country offered their input to rank the states most and least appealing to business leaders, and the results validate GOP governors’ efforts to build capable workforces and enact business-friendly policies.
Eight of the top 10 states on the list are led by Republicans, while the bottom five are all controlled by Democrats. For the 16th year in a row, Texas earned first place, citing the Lone Star State’s low taxes for businesses and individuals, affordable cost of living, and common sense regulatory environment. Texas has had a Republican governor for all sixteen years that it topped the list.
Florida and Indiana maintained their positions on Chief Executive’s annual list as well, placing #2 and #5, respectively. Utah moved into the top 10, Missouri jumped up four spots, and Vermont advanced seven. These results stem from the common sense, pro-growth fiscal policies favored by Republican governors.
The contrast between Republican and Democratic governors’ approach to fostering economic and job growth is laid bare in Chief Executive’s assessment of first-place Texas versus last-place California: “Employers continue to be attracted by [Texas’] lack of an individual income tax, low business taxes, friendly regulators, reasonable cost of living, and diverse and growing labor force,” while “Business owners—especially companies that make things— continue to abandon [California] as fast as they can.”
“Republican governors were leading America’s job growth heading into the COVID-19 pandemic and they are leading America’s recovery as states continue to safely reopen their economies,” said RGA Communications Director Amelia Chassé Alcivar. “Job creators are voting with their feet and moving to states where Republican governors are enacting common sense policies that grow jobs and opportunity – not government.”