Tennessee is the 3rd Best State for Business 2014

CEOs responded that Tennessee, a right-to-work state, was good for both manufacturing and high tech, “especially in the Nashville area.” Another respondent called Tennessee “outstanding.”

May 8 2014 by JP Donlon


Previous State: Florida Next State: North Carolina

No. 3 Tennessee

Taxations & Regulations

Workforce Quality

Living Environment

Key Metrics
State GDP 

  • % Growth ’12-’13: 1.7
  • % Growth ’11-’12 v. Nat’l Avg. (2.5%): 0.8

Unemployment

  • Unemployment Rate Dec. 2013 %: 7.8
  • Comparison with Nat’l Rate (6.70%): -1.1

Domestic Migration

  • Domestic Net Migration 2013: 12,649
  • Rank: 11

State Government

  • State Debt per Capita Fiscal Year ’13 ($): 911
  • State & Local Gov’t Employees per 10k Residents: 527.8

State-Local Tax Burden

  • Rate (%): 7.7%
  • Compared to Nat’l Avg. (9.9%): -2.15%
Key Companies
  • FedEx Services
  • International Paper Company
  • Dollar General
  • Unum Group
  • Autozone
Development Trend Indicator: Negative
Rock-solid labor reputation takes a hit from VW dalliance with UAW.
CEO Comments
“In Tennessee, a right-to-work state, the factors listed above are all good for manufacturing as well as high tech, especially in the Nashville area.” 

“Tennessee is outstanding.”


Based on CEO Survey by ChiefExecutive.net

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