I share this article from the Wall Street Journal’s Market Watch because it’s suggesting that Vermont is one of the 10 worst states in which to do business. Sadly, the criteria that constitutes a good environment for business is missing from the article. Perhaps, in addition to what is good for business, we should be considering what is good for society in general. An environment that only caters to the needs of business fails to acknowledge that there are many underemployed people that are not benefitting the way the corporations are… Am I missing something?
CHICAGO, May 16, 2012 BUSINESS WIRE — “If consistency counts, then the states that ranked as the Pollina Corporate Ten Worst States for Business deserve to be given awards,” says Dr. Ronald Pollina, Chairman of the American Economic Development Institute AEDI and President of Pollina Corporate Real Estate, Inc.AEDI and Pollina Corporate have joined together this year to produce the Pollina Corporate Top 10 Pro-Business States, which is known as “Gold Standard” for evaluating the pro-business status of each state. The annual study found that the lowest ranked states last year were Wisconsin, Illinois, Maine, Kentucky, Massachusetts, Vermont, West Virginia, New Jersey, Rhode Island and California.Kentucky, West Virginia, New Jersey, Rhode Island and California have been ranked among the worst ten states five out of the last five years, with California dead last.Of the other states, none has risen above the bottom 16 in five years with the exception of Massachusetts, which ranked 28th in 2007 and freefell to 46th. Although not among the bottom ten, Maryland dropped from 13th in 2007 to 36th by 2011, the greatest five-year drop of all states.”What dont they understand about the fact that a hostile business environment creates the perfect storm for unemployment?” asks Dr. Pollina. “High unemployment results in lower tax revenues, creating high state deficits and cuts in services.”With the exception of Vermont, the other states have high unemployment rates with New Jersey, Illinois, California and Rhode Island among the ten highest in the nation. These ten states have approximately 3.8 million children living in poverty, which is equivalent to the total population of the city of Los Angeles.”Cut through all of the political double talk and finger pointing, and you have ten governors and legislatures that have no effective plan for keeping their constituents employed. If they had an effective plan, they would realize that Jobs = Income = Tax Revenue = Strong State Economies. Creating jobs must be beyond their ability.” Dr. Pollina explains.”Only Vermont and West Virginia will hold a governors election in 2012. The unemployed in the remaining states must hope and pray that their leaders will be kissed by a prince and awaken from their long slumber to create jobs,” says Dr. Pollina.SOURCE: Pollina Corporate Real Estate, Inc.