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Alabama Is the 17th Best State for Business 2014

Alabama’s GDP growth was up 1.2% in 2012 vs. 2011, while its unemployment and tax rates were both less than the national average. The Center for Business and Economic Research at the University of Alabama is predicting a 2.4% output growth rate for 2014, which would, in turn, generate 25,000 jobs.

Previous State: Colorado Next State: Wyoming

No. 17 Alabama

Taxations & Regulations

Workforce Quality

Living Environment

Key Metrics
State GDP 

  • % Growth ’12-’13: 0.8
  • % Growth ’11-’12 v. Nat’l Avg. (2.5%): -1.3

Unemployment

  • Unemployment Rate Dec. 2013 %: 6.1
  • Comparison with Nat’l Rate (6.70%): -0.6

Domestic Migration

  • Domestic Net Migration 2013: 451
  • Rank: 21

State Government

  • State Debt per Capita Fiscal Year ’13 ($): 1,967
  • State & Local Gov’t Employees per 10k Residents: 615.3

State-Local Tax Burden

  • Rate (%): 8.2%
  • Compared to Nat’l Avg. (9.9%): -1.68%
Key Companies
  • HealthSouth
  • Regions Financial
  • Vulcan Materials
Development Trend Indicator: Neutral
Flirts with minimum-wage increase while maintaining business tax-friendliness.


Based on CEO Survey by ChiefExecutive.net

Sources:
Bureau of Economic Analysis
Bureau of Labor Statistics
NewGeography.com
The Tax Foundation

About JP Donlon

JP Donlon
JP Donlon is the Editor-in-Chief of Chief Executive magazine.