11/2/07

Right To Work law good for small business

Colorado is 11th on a lobbying group's annual ranking of the 50 states' climates for small business, based on tax and regulation policy. The rankings were released Thursday.

The Oakton, Va.-based Small Business & Entrepreneurship Council ranked the states according to 31 "major government-imposed or government-related costs" in its Small Business Survival Index for 2007.

The highest-ranking states on the council's list tend to be those with light taxes and business-friendly regulation. Among the factors evaluated are top corporate and personal tax rates, health insurance mandates, crime rate, power costs, "right to work" labor laws and state government spending.

South Dakota ranks No. 1, followed by Nevada, Wyoming, Washington, Florida, Michigan, Texas, South Carolina, Virginia, Alabama and Colorado.

New Jersey was ranked last among the 50 states, with California at No. 49, Rhode Island at No. 48 and Maine at No. 47.

"Some elected officials, policymakers and special interests believe that taxes, regulations and other governmental costs can be increased with impunity," said Karen Kerrigan, SBEC president/CEO, in a statement. "Economic reality tells a different story. Ever-mounting burdens placed on entrepreneurs and small businesses by government negatively affect economic opportunity."

Colorado was ranked No. 8 in the 2006 index and No. 10 in 2005.

(bizjournals.com)

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