The nation's CEOs have voted Georgia as the eighth best state for businesses. The results come following a survey by Chief Executive magazine that asked 650 company heads to grade states on factors like quality of workforce, living environment and tax regulations.

Georgia was ranked number eight, dropping from its ranking as fifth on the 2011 report. The state received four out of five stars in all of the areas on the survey. The magazine cited the conservative statehouse as a positive trend for big business in Georgia because taxes are being controlled more tightly. The talent of the local workforce was also listed as a plus for businesses.

Key companies in Georgia include Atlanta-based Coca-Cola Company, Home Depot Inc., United Parcel Service Inc. and Delta Airlines. AFLAC Inc. in Columbus is also listed as a major company rooted in the state.

Survey respondents who commented on doing business in Georgia mentioned transportation, low cost of living, weather and talent pool as positive factors for businesses.

Georgia is ranked fifth in the nation for migration into the state. From 2000 - 2009, an estimated 550, 369 people moved into Georgia. This has added to the talent available for employers, even during the recession years. The state-local tax burden is 9.12 percent in Georgia, which is lower than the national percentage of 9.8.

The top-ranked state on the list was Texas. It is the second year in a row that Texas received the top honor and the magazine lists job creation as the main reason. Since the end of the recession in June 2009, Texas has been responsible for the creation of 328,000 new jobs. This number represents 47 percent of net job growth in the entire U.S.

In addition to job creation, other business-friendly attributes of Texas include non-union labor, proximity for exports, inexpensive real estate and Spanish-speaking workers.

Florida grabbed the number two spot on account of job creation and drop in unemployment rates. Since Florida's governor Rick Scott took office, over 140,000 private sector positions have been created and the state's unemployment rate has dropped over two percent.

Both Texas and Florida also have the biggest migration rate in the years 2001 to 2009.

Rounding out the top five are North Carolina (3rd), Tennessee (4th) and Indiana (5th).

The states that ranked the worst include: California (50th), New York (49th), Illinois (48th), Massachusetts (47th), Michigan (46th) and New Jersey (45th).

Despite being towards the bottom of the list, the magazine praised legislators in New York and New Jersey for making strides to improve the business atmosphere in the states by lifting burdensome taxes and regulations.

For a full list of results, visit www.chiefexecutive.net.