States: The Top Ten High Cost of Doing Business

Entrepreneur magazine (print version only) had an interesting article in their February 2009 edition, which outlined the states with the highest cost of doing business (figures were the most recent - 2007).

This matters because job creation in every state in the U.S. is critical. If costs are too high in one place, job seekers in those locations may suffer.

Taken into account were average worker's wages, tax burden, electricity costs, industrial and office space rents.

Here is the list of the states with the highest cost of doing business.

1. Hawaii
2. New York
3. Alaska
4. Massachusetts
5. Connecticut
6. California
7. New Jersey
8. Vermont
9. Delaware
10. Rhode Island

Some of the figures which are represented in the article would have been affected positively today would include the probable increase in office and warehouse space since late 2008 to the present. An increase in supply of either would logically dictate a drop in price. Well some places.

Also, wages have dropped as well as layoffs have increased in the past six months which can drive wages down.

Finally, some of these states have raised tax rates for individuals and businesses as tax revenues have dried up. They may be even higher than listed above.

Regardless, if you live in one of the above states, be aware what you are facing. The out of work in Texas for instance, have a better playing field to work with than those in New Jersey.

Author's note: I was surprised Michigan was not on this list.

Marketing Me! Would you pay for a new job?

During the 2002 "dot com" crash, I found myself looking for a new job while my then current company began to flounder. Thinking the boom was still on, I was in for a rude awakening.

First, there were very few open positions in the IT field in any capacity.
Second, positions which were open, were quickly filled by internal candidates (hence the reason we network and market ourselves!).

However, there were some openings in a few companies which I quickly applied for. Naturally, my applications ended up not with the employer, but with a recruiter retained by the company.

And then the recruiter song and dance began.

It occurred to me at that time, would it not have been easier to just have made an offer to the recruiter?

"You get me a job offer within my requirements and I will give you this percentage of my first year's commission or I will write you a check for the full amount my first day of work".

We know why this would not work in my particular scenario, but would it work in general? Would you do it?