Kevin O’Leary Shares Surprising Insight on Business Investments in Blue States

Kevin O’Leary explains why blue states are losing appeal for business investment.

At a Glance

High taxes, extensive regulations, and unfavorable business climates deter investors in blue states.
Kevin O’Leary focuses on policy impacts over political affiliations.
Endorses states like North Dakota, Oklahoma, and West Virginia for their business-friendly environments.
Criticizes policies like the Inflation Reduction Act as unnecessary.

Business Climate in Blue States

During a recent discussion with Chris Cuomo, Kevin O’Leary, known for his role on “Shark Tank,” voiced his concerns over the business investment landscape in blue states. He highlighted high taxes, extensive regulations, and generally unfavorable business climates as primary hurdles for investors. According to O’Leary, these policies make it challenging for businesses to expand and achieve profitability, ultimately rendering blue states less attractive for investment.

Kevin O’Leary emphasized that his investment decisions are driven by policy impacts rather than political affiliations. Over the past three years, he has engaged with politicians from both parties to understand and navigate the policy landscape better. O’Leary’s primary focus remains on how policies will affect business environments in specific states such as Michigan, Pennsylvania, and Iowa.

Kevin O’Leary isn’t called Mr. Wonderful for nothing. Democrats have a very poor understanding of economics and blue states will feel this.

I personally know business owners that have left California bc of the awful business climate created by their politicians.

How long are… https://t.co/zJxRbq3IYx

— Check One Two 🎙 (@hcasan0va) September 3, 2024

Criticism of the Current Administration and Economy

O’Leary has been critical of Vice President Kamala Harris, urging for better execution skills from leaders. He mentions that independent voters in key states will play a crucial role in the upcoming election. Furthermore, he attributes the Democrats’ less favorable reputation in job creation to poor marketing, despite positive unemployment figures.

“Mr. Wonderful” also highlighted the significant issue of inflation, criticizing the necessity of the Inflation Reduction Act. He expressed that while the U.S. economy is strong, the impact of inflation cannot be underestimated. He further noted that the economic strength should not be attributed to politics but to effective policy management.

Kevin O’Leary Explains Why Blue States Are 'Uninvestable'https://t.co/uwaIHrR6kS

— PJ Media (@PJMedia_com) September 3, 2024

Investing in Business-Friendly States

Unfavorable business conditions in blue states have led O’Leary to endorse more business-friendly states like North Dakota, Oklahoma, West Virginia, and Montana. He has launched the “Competitive States Investment Tour” to promote these states’ favorable investment climates actively. For instance, West Virginia privatized its workers’ compensation system, resulting in lower rates, which is a significant advantage for businesses.

O’Leary wants to be clear, “I want to do policy that helps create jobs in America, and I don’t care whether they’re red or blue or independent jobs.”

O’Leary has already managed a $45-million direct-investment program in North Dakota and praises Oklahoma for its competitive taxes and efficient processes for large projects. In contrast, he criticizes New York for its high taxation and punitive policies, making it unattractive for significant capital investments, even though it has potential in data-center construction due to low-cost hydropower.