LG dismisses CNBC business survey

Acting Gov. Kim Guadagno, today dismissed a recent CNBC survey of the best states in which to do business as “not worth the paper it’s written on” because the outlet would not disclose the methodology behind the rating, which put New Jersey 41st out of 50 states.

Guadagno said a staffer contacted CNBC to find out how the rankings were compiled, but was rebuffed.

“I like to say ‘garbage in, garbage out,” she told reporters at a press conference announcing the signing of a bill to require school buses and other transportation modes for developmentally disdabled people display flashing lights when stopping to load and unload.  “Unless you are going to tell me how the ranking was attained, I don’t think we should put much stock in that ranking.”

According to the ranking released Tuesday, New Jersey tumbled 11 spots this year, receiving poor marks in the categories of “business friendliness,” (number 48), “cost of living,” (number 45) and “infrastructure and transportation” (number 41).

Texas was the top-ranked state in the survey.

The survey used 51 measures and received guidance from such groups as the National Association of Manufacturers and the Council on Competitiveness.

Other measures included quality of life and the economy.

Guadagno pointed to other recent studies of the state’s businiess climate, including one of New Jersey CEOs commissioned by the New Jersey Business and Industry Association and Rutgers University that showed they feel more confident about the economy and the responsiveness of state government.

LG dismisses CNBC business survey