The magazine said 650 business leaders nationwide completed the annual survey, ranking states on factors including tax and regulatory policies, workforce quality and living environment.
The commonwealth rated four stars out of five for workforce quality and living environment but just two stars for its tax and regulatory environment. The state has "numerous piddly taxes" and is "regulation heavy even for very small 1-2 person businesses," the survey quoted one anonymous respondent as saying.
For the eighth consecutive year, the survey ranked Texas No. 1 and California No. 50. CEOs praised the former's tax and regulatory policies and its workforce quality. The magazine described California, conversely, as "the most ruinously contentious place to operate" and as descending "deeper into the ninth circle of business hell."
Louisiana's ranking improved the most, jumping 14 spots to No. 13. Oregon dropped the most, nine spots to No. 42.