Surveys Find New Jersey Worst State For Business

A survey of New Jersey’s small businesses recently found the state’s overall business climate not favorable. When asked in a recent survey which State has the worst business climate, the nation's corporate chief financial officers (CFOs) chose New Jersey.

To put this into context, New Jersey is now viewed as less business friendly than California, Massachusetts, New York and Pennsylvania - all competitor states with similar workforce, transportation, quality-of-life and consumer characteristics.

The chief financial officers from across the country who participated in the survey said New Jersey has the most unfair and unpredictable tax environment among the 50 States. They also said New Jersey's tax policies are the most likely to discourage companies from expanding or relocating their facilities there.

In fact, New Jersey was ranked among the five least fair or most aggressive states in seven of the eight questions asked by the survey. Respondents said New Jersey's tax policies were the most likely to dissuade companies from relocating to or expanding in the State. That's a stunning change for a State that didn't make the worst five in a single question in the same survey in 2000.