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Tennessee is the 4th Best State for Business 2012

No. 4 Tennessee Taxation and Regulations Workforce Quality Living Environment Based on CEO Survey by ChiefExecutive.net Key Metrics State GDP  …

No 4: Tennessee

No. 4

Tennessee

Taxation and Regulations
Workforce Quality
Living Environment

Based on CEO Survey by ChiefExecutive.net

Key Metrics
State GDP 

  • % Growth ’07-’10: -0.91
  • % Growth ’07-’10 v. Nat’l Avg. (-0.33%): -0.58

Unemployment

  • Unemployment Rate Dec. 2011 %: 8.70
  • Comparison with Nat’l Rate (8.50%): 0.20

Domestic Migration

  • Domestic Net Migration ’00-’09: 259,711
  • Rank: 8

State Government

  • Debt per Capita Fiscal Year ’10 ($): 922
  • State & Local Gov’t Employees per 10k Residents: 527.75

State-Local Tax Burden

  • Rate (%): 7.61
  • Compared to Nat’l Avg. (9.8%): -2.19
Key Companies
  • FedEx Services
  • International Paper Company
  • Dollar General
  • Unum Group
  • Autozone
Development Trend Indicator: Neutral
Business community awaits substantial unemployment-insurance reform.
CEO Comments
“Recently moved from New York state to Tennessee. Differences in ambience/climate/cost of living/attitude of government towards business are outstanding!”

“Good states have quality work force, affordable housing, good infrastructure and business friendly regulations with low income taxes, none of these apply to Illinois or California but do so in Tennessee and Texas.”

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

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