Chief Executive Magazine Ranks Nevada as No. 5 'Best State to Do Business'

LAS VEGAS, June 14 /PRNewswire-USNewswire/ -- Lt. Gov. Brian Krolicki, chair of the Nevada Commission on Economic Development, announced today that Nevada was ranked No. 5 in Chief Executive magazine's list of Best States for Business in 2010.

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"I'm thrilled that Nevada is continuing to receive national attention for being a pro-business state that understands the value of industry growth in creating jobs," said Krolicki.  "Nevada is committed to continuing its concerted and coordinated efforts toward a strategically diversified economy, which will provide new job opportunities and allow us to compete and thrive in the national and global economies"

In Chief Executive's annual survey of best and worst states for business, conducted in late January of this year, 651 CEOs across the United States again gave Nevada high honors, while neighboring California was ranked the worst state.

According to one chief executive officer respondent in the survey, "The leadership of California has done everything in its power to kill manufacturing jobs in this state. As I stated at our annual meeting, if we could grow our crops in Reno, we'd move our plants tomorrow."

Bill Dormandy, chief executive officer of San Francisco medical device maker ITC, also stated: "California has a good living environment but is unfavorable to business, and the state taxes are not survivable. Nevada (is) encouraging business(es) to move to (the) state with lower tax rates and less regulatory demands."

Survey respondents were asked to rate each state in three general categories: taxation and regulation; quality of workforce; and living environment. Within each category respondents graded states in five subcategories, as well as ranking each in terms of its importance to the respondent and how individual states measure up.

Nevada officials said that among other advantages of having a business in Nevada are: a stable regulatory environment, cooperative government, trained or trainable workforce, and affordable/desirable housing options.

About the Nevada Commission on Economic Development

The Nevada Commission on Economic Development promotes a robust, diversified and prosperous economy based on innovation, human ingenuity and sustainability.  This is achieved through programs including national and international Business Development, Community Development Block Grants, Procurement Outreach and the Nevada Film Office.  NCED has offices at 808 W. Nye Lane in Carson City and at 555 E. Washington Ave., Suite 5400 in Las Vegas.  More information can be accessed at www.diversifynevada.com or by calling 800-336-1600.

SOURCE Nevada Commission on Economic Development