New Hampshire Tops Northeast in Chief Executive Magazine’s 2024 CEO Survey of Best and Worst States for Business

NASHVILLE, Tenn., April 24, 2024 /PRNewswire/ — CEOs surveyed for Chief Executive magazine’s annual list of the Best and Worst States for Business ranked New Hampshire as the top Northeastern state and the 24th-best state for business overall, moving up four spots from its location last year. The rankings, released in the Spring issue of Chief Executive, reflect New Hampshire’s ongoing efforts to invest in their local economy.

The ranking is based on a survey of more than 500 CEOs across the country who were asked to rate states based on their opinion of how easy it was to do business in that state versus others. New Hampshire’s favorable ranking is due in part to record exports and new factory development.

New Hampshire offers a competitive advantage to companies looking to establish or expand their presence in the region,” says Chris Chalk, Publisher, Chief Executive magazine. “With no state income tax, a low overall tax burden and a highly educated workforce, the state is an ideal choice for businesses looking to succeed and grow.”

The Granite State may be small, but it’s making a big name on the global stage. New Hampshire’s exports surpassed $7 billion in 2022, a record and $1 billion more than in 2021. A large portion of this was driven by electrical machinery, which is the state’s top export. State officials credit the success to the “pro-business, pro-worker agenda” and the hard work local companies have done securing new global markets during the disruption from the pandemic.

Here’s what some of the CEOs we surveyed had to say about why they ranked New Hampshire so highly:

“These states are income tax free which results in lower cost of operations due to lower labor costs.  They also are lower regulation states which makes the cost and ease of doing business there more attractive.  Because low tax states attract workers, the labor pool is growing which makes staffing easier.”

New Hampshire is great with reasonable rules and red tape is easy because you can talk with real people.”

The Top 5 States for 2024:

1.  Texas

2.  Florida

3.  Tennessee

4.  Arizona

5.  North Carolina

The Bottom 5 States for 2024:

46. Washington

47. New Jersey

48. Illinois

49. New York

50. California

Biggest Gain, 2023-24:

North Dakota, + 13 to 16th place

Biggest Loss, 2023-24:

Colorado, – 16 to 29th place

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SOURCE Chief Executive Group