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New Jersey was named as one of the worst states in the nation to do business, ranking #45 out of 50 in this year's Best & Worst States Survey by Chief Executive Magazine. Last year, New Jersey ranked #47. Below is the listing for the top-ranked and worst-ranked states. A full list can be found here. Texas is best, followed by Florida and North Carolina; worst states are California, New York and Illinois.

GREENWICH, CT, May 3, 2012 - For the eighth year in a row, CEOs rate Texas as the #1 state in which to do business, according to Chief Executive magazine's annual Best & Worst States Survey, released today.  Florida rose one spot to take the #2 rank, while North Carolina slipped to #3.  Tennessee remained at #4 while Indiana climbed a spot to capture the #5 rank. CEOs named the worst states to do business as California, New York, Illinois, Massachusetts and Michigan.

The Best & Worst States Survey measures the sentiment of CEOs on business conditions around the nation.  For the 2012 survey, 650 CEOs from across the country evaluated the states on a broad range of issues, including regulations, tax policies, workforce quality, educational resources, quality of living and infrastructure.  The survey was conducted from Jan. 24 to Feb. 26, 2012.

Louisiana was the biggest gainer in the survey, rising 14 spots to be the #13th most attractive state in the country to do business. The biggest loser was Oregon, which dropped nine spots to #42.

CEOs surveyed said California's poor ranking is the result of its hostility to business, high state taxes and overly stringent regulations, which is driving investment, companies and jobs to other states. According to Spectrum Locations Consultants, 254 California companies moved some or all of their work and jobs out of state in 2011, an increase of 26 percent over the previous year and five times as many as in 2009.

"CEOs tell us that California seems to be doing everything possible to drive business from the state. Texas, by contrast, has been welcoming companies and entrepreneurs, particularly in the high-tech arena," said J.P. Donlon, Editor-in-Chief of Chief Executive magazine and ChiefExecutive.net.  "Local economic development corporations, as well as the state Texas Enterprise Fund, are providing attractive incentives. This, along with the relaxed regulatory environment and supportive State Department of Commerce adds up to a favorable climate for business."

Inhospitable business environments mean less jobs, as entrepreneurs and established corporations seek more cost-efficient and tax-friendly locales, reports Marshall Cooper, CEO of Chief Executive magazine and ChiefExecutive.net.  "This survey shows that states that create policies and incentives are rewarded with investment, jobs and greater overall economic activity."

For complete results, including individual state rankings on multiple criteria, methodology and more, please visit ChiefExecutive.net.

Best 5 States for Business: Rank 2012/Rank 2011

Texas - 1st/1st

Florida - 2nd/3rd

North Carolina - 3rd/ 2nd

Tennessee - 4th/4th

Indiana - 5th/6th

Worst 5 States for Business:Rank 2012/Rank 2011

California - 50th/50th

New York - 49th/49th

Illinois - 48th/48th

Massachusetts - 47th/45th

Michigan - 46th/46th

2012 Biggest Gainers: Positions Gained

Louisiana: +14

Mississippi: +8

West Virginia: +8

Ohio: +6

North Dakota: +6

2012 Biggest Losers: Positions Lost

Oregon: -9

Kentucky: -8

New Hampshire: -8

Nebraska: -7

Minnesota: -7

Chief Executive Group produces Chief Executive magazine (published since 1977), ChiefExecutive.net, and conferences and roundtables that enable top corporate officers to discuss key subjects and share their experiences within a community of peers.  The Group also facilitates the annual "Chief Executive of the Year," a prestigious honor bestowed upon an outstanding corporate leader, nominated and selected by a group of his or her peers. Visit  <http://www.chiefexecutive.net> www.chiefexecutive.net for more
information.