![]() This is especially important for states that lack the climate and geographic advantages those coastal states have. States that want to keep their current businesses and residents and attract new ones should avoid the high taxes, fees, and onerous regulations that California, New York, and New Jersey impose. Businesses are fleeing California, too, with hundreds moving their headquarters to other states, taking their jobs with them. But as the bad economic policies stack up, even places with weather as nice as California’s reach a tipping point: In 2022, the state’s population shrank by 138,000 people and since 2020 it has fallen by more than 500,000. States with the advantages of California and New York-major industry hubs (New York City, Silicon Valley), busy ports, world-famous cultural amenities-can still do OK despite some economic policies that discourage growth. When it comes to economic policies such as taxes, fees, and regulations, California, New York, New Jersey, and to a lesser extent Maryland, consistently land near the bottom of the various rankings. According to Cato’s land-use regulation ranking, New York is 46, California is 47, New Jersey is 49, and Maryland is 48. Higher housing prices limit economic mobility by making it harder for people to move to cities and neighborhoods with better amenities and more job opportunities. Zoning and other land-use regulations increase the price of housing by restricting supply. Finally, in its Freedom in the 50 States project, the Cato Institute ranks states along numerous dimensions including land-use policy.
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