The Cost of Doing Business in California is

OUT OF CONTROL

California’s affordability crisis not only affects the cost of living for residents, but also the cost of doing business in the state. CNBC recently ranked America’s Top States for Business in 2024, scoring all 50 states on 128 metrics in 10 broad categories.

America’s top 10 states for doing business are:

  1. Virginia

  2. North Carolina

  3. Texas

  4. Georgia

  5. Florida

  6. Minnesota

  7. Ohio

  8. Tennessee

  9. Michigan

  10. Washington

Surprisingly, the so-called Golden State didn’t even sniff the top 10. In fact, California didn’t make the top 20, instead ranking middle of the pack in 23rd place. California did manage to score well in several of the 10 categories including quality of life (8th), technology and innovation (5th) and access to capital (1st). So what led to California’s overall bleak showing?

YOU GUESSED IT …. AFFORDABILITY!

California ranked:

50th in cost of living

45th in the cost of doing business

47th in business friendliness

Not exactly a stellar scorecard for a state that likes to boast that it’s the fifth largest economy in the world. More importantly, this confirms that California’s out of control energy, fuel, housing, insurance and food costs are tarnishing the Golden State’s image.

This should be a wake up call for the Governor, legislators and regulators. Until Sacramento politicians get the state’s worsening AFFORDABILITY CRISIS under control, more businesses will flee the Golden State for greener pastures.