( – promoted by Paul R. Ferro)
Geoff Diehl’s recent post http://redmassgroup.com/sh… mentions the annual CEO Magazine survey of then views of corporate CEO’s on the business climates of each of the 50 states. No surprise that Massachusetts ranks near the bottom (47th). But this year, CEO Magazine has posted comments from the CEOs.
What is really telling is that these comments are anonymous. CEOs are reluctant to openly criticize the governments of the states or countries in which they do business less the pols use the regulatory and taxation apparatus to attack them or their firms. Of course, there are exceptions like the CEO of Honeywell, a technology and manufacturing giant. http://bostonherald.com/busine…
Here are just the first four comments from CEO’s on doing business in Massachusetts (excerpted from CEO Magazine): http://chiefexecutive.net/mass…
“If I were designing Hell for a company, I couldn’t do as good a job as Massachusetts has. We will be leaving the state within the next year.”
“We are moving out of CA, MI, MA and NY in 2013 and terminating our employees there. The regulatory and tax environment has become untenable.”
“Massachusetts is returning to the state of Taxachusetts, thanks to Governor Deval Patrick and the overwhelming Democratic party majority in both houses of the Legislature.”
“Taxation and regulation are always the key barometers. Massachusetts and Oregon are the worst.”
There is a real cost to the tax and regulatory climate-and the hostility to the market and capitalism evidenced by the Governor, legislature and the bureaucracy. Companies are not investing in Massachusetts. According to E&Y’s recent survey, Massachusetts lags badly in private sector capital investment (at page 9). http://www.ey.com/Publication/…
CEOs are the ones who make the decisions that determine where investments in productive, good paying jobs will be made. And as far as America’s CEOs are concerned, that’s not going to be Massachusetts.
Paging Secretary Bialecki ….