NJ is ranked 46th by magazine for business

Last year, it was the CNBC survey that said New Jersey is one of the worst states for business.

This year another periodical gives the Garden State similarly low marks.

Chief Executive Magazine ranked New Jersey 46th out of 50 states, down one notch from number 45 last year.

Texas took the top spot, as it did last year, followed by Florida, North Carolina and Tennessee.

It did point out one positive trend: the current tax cut debate.

“At least now the debate is over which tax to cut rather than to cut or raise taxes,” the magazine said.

The state ranked 47th in domestic migration, having lost more than 450,000 residents between 2001 and 2009.

Between 2010 and 2011, the state lost 54,098 residents, the article said.

New Jersey has 593 state and local government employees per 10,000 residents, which is not unusual.

The article listed the following typical CEO comments about doing business in New Jersey.

“New York and New Jersey have high costs of doing business and favor local companies to a greater extent than other states favor their local companies,” one comment reads.

“New Jersey is more proactive for business opportunities.”

“New Jersey actually seems like it is trying to get a little bit more business friendly. But historically, I have never dealt with a state that had more of a ‘gotcha’ attitude and treated businesses like they were guilty until proven innocent,” a third comment reads.

The state’s GDP fell 0.5 percent between 2010 and 2011.When compared to the national average, New Jersey’s national average is 2 percent lower in that same time period.

For what it’s worth, New Jersey’s neighbors didn’t fare much better. New York (49), Massachusetts (47), Connecticut (45), Pennsylvania (42) and Maryland (41), all ranked in the bottom 10.

NJ is ranked 46th by magazine for business