10 Best States for Business 2013: Slideshow

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Number 2

No. 1 Texas

Taxations & Regulations

Workforce Quality

Living Environment

Based on CEO Survey by ChiefExecutive.net

Key Metrics
State GDP 
  • % Growth ’10-’11: 3.3
  • % Growth ’10-’11 v. Nat’l Avg. (1.5%): 1.8

Unemployment

  • Unemployment Rate Dec. 2012 %: 6.2
  • Comparison with Nat’l Rate (7.80%): -1.6

Domestic Migration

  • Domestic Net Migration ’10-’11: 145,315
  • Rank: 1

State Government

  • Debt per Capita Fiscal Year ’10 ($): 1,679
  • State & Local Gov’t Employees per 10k Residents: 563.9

State-Local Tax Burden

  • Rate (%): 8.2
  • Compared to Nat’l Avg. (9.9%): -1.68
Key Companies
  • ExxonMobil Corp.
  • AT&T Inc.
  • Dell Inc.
  • ConocoPhillips
  • AMR Corp.
  • Fluor
  • Halliburton
  • Southwest Airlines
Development Trend Indicator: Positive
Amazingly, the Lone Star State hasn’t let up and keeps building on its lead.
CEO Comments
“Glad to become part of the great “TEXodus” and moved from CA to TX — been really terrific for us…”

“Texas still stands head and shoulders above others in their business climate, employee work ethics and living environment.”

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


Number 1 Number 3

No. 2 Florida

Taxations & Regulations

Workforce Quality

Living Environment

Based on CEO Survey by ChiefExecutive.net

Key Metrics
State GDP 
  • % Growth ’10-’11: 0.5
  • % Growth ’10-’11 v. Nat’l Avg. (1.5%): -1.0

Unemployment

  • Unemployment Rate Dec. 2012 %: 7.9
  • Comparison with Nat’l Rate (7.80%): 0.1

Domestic Migration

  • Domestic Net Migration ’10-’11: 118,756
  • Rank: 2

State Government

  • Debt per Capita Fiscal Year ’10 ($): 2,155
  • State & Local Gov’t Employees per 10k Residents: 489.5

State-Local Tax Burden

  • Rate (%): 7.0
  • Compared to Nat’l Avg. (9.9%): -2.89
Key Companies
  • Office Depot Inc.
  • NextEra Energy, Inc.
  • Tech Data
  • Carnival Corp.
  • CSX
  • Jabil Circuit
  • World Fuel Services
Development Trend Indicator: Negative
Business now assessing blow of Gov. Scott’s turnabout on Obamacare.
CEO Comments
“Florida has gained significant momentum with the new Governor, who actually has Manufacturing on the top priority list of his agenda.”

“Florida is becoming a hot bed for key industry clusters such as Aviation, Life Science, Corporate HQ and Hedge funds.”

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


Number 2 Number 4

No. 3 North Carolina

Taxations & Regulations

Workforce Quality

Living Environment

Based on CEO Survey by ChiefExecutive.net

Key Metrics
State GDP 
  • % Growth ’10-’11: 1.8
  • % Growth ’10-’11 v. Nat’l Avg. (1.5%): 0.3

Unemployment

  • Unemployment Rate Dec. 2012 %: 9.4
  • Comparison with Nat’l Rate (7.80%): 1.6

Domestic Migration

  • Domestic Net Migration ’10-’11: 41,033
  • Rank: 3

State Government

  • Debt per Capita Fiscal Year ’10 ($): 1,983
  • State & Local Gov’t Employees per 10k Residents: 599.7

State-Local Tax Burden

  • Rate (%): 8.4
  • Compared to Nat’l Avg. (9.9%): -1.45
Key Companies
  • Bank of America Corporation
  • Lowe’s Companies Inc.
  • Duke Energy Corporation
  • Niuco, Progress Energy
  • Reynolds American
  • VF Corp.
  • Goodrich
Development Trend Indicator: Sideways
Still needs to fix tax and regulatory issues that have been holding it back.
CEO Comments
“North Carolina – great new Governor puting together an excellent team. Republican legislature for 1st time in 27 years. Has huge growth potential”

“North Carolina and TN seem to be pro business. NC not only offers incentives to come to the state but have incentives to stay there.”

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


Number 3 Number 5

No. 4Tennessee

Taxations & Regulations

Workforce Quality

Living Environment

Based on CEO Survey by ChiefExecutive.net

Key Metrics
State GDP 
  • % Growth ’10-’11: 1.9
  • % Growth ’10-’11 v. Nat’l Avg. (1.5%): 0.4

Unemployment

  • Unemployment Rate Dec. 2012 %: 7.6
  • Comparison with Nat’l Rate (7.80%): -2.0

Domestic Migration

  • Domestic Net Migration ’10-’11: 20,328
  • Rank: 7

State Government

  • Debt per Capita Fiscal Year ’10 ($): 922
  • State & Local Gov’t Employees per 10k Residents: 527.8

State-Local Tax Burden

  • Rate (%): 10.0
  • Compared to Nat’l Avg. (9.9%): 0.16
Key Companies
  • FedEx Services
  • International Paper Company
  • Dollar General
  • Unum Group
  • Autozone
Development Trend Indicator: Positive
Prospect of worker’s compensation reform makes it shine even brighter.
CEO Comments
“Tennessee has excellent people for manufacturing and can attract high quality professionals. It has a very high quality of living and a low cost of living. Logistics are great with great access to a larger percentage of the population with in an 8 hour truck haul.”

“Tennessee has a strong business climates and excellent educational systems. Tennessee promotes business & they want to help ongoing and new business.”

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


Number 4 Number 6

No. 5Indiana

Taxations & Regulations

Workforce Quality

Living Environment

Based on CEO Survey by ChiefExecutive.net

Key Metrics
State GDP 
  • % Growth ’10-’11: 1.1
  • % Growth ’10-’11 v. Nat’l Avg. (1.5%): -0.4

Unemployment

  • Unemployment Rate Dec. 2012 %: 8.3
  • Comparison with Nat’l Rate (7.80%): 0.5

Domestic Migration

  • Domestic Net Migration ’10-’11: -11,412
  • Rank: 43

State Government

  • Debt per Capita Fiscal Year ’10 ($): 3,650
  • State & Local Gov’t Employees per 10k Residents: 536.3

State-Local Tax Burden

  • Rate (%): 11.2
  • Compared to Nat’l Avg. (9.9%): 1.37
Key Companies
  • Eli Lilly and Company
  • Republic Airways Holdings Inc.
  • Wellpoint
  • Steel Dynamics
  • Cummins
  • Nisource
Development Trend Indicator: Sideways
Now trying to monetize friendlier profile resulting from right to work.
CEO Comments
” Indiana is getting more competitive every year and it is boosting the competitiveness of the surrounding states (except for Illinois)”

“Texas, Colorado and Indiana are certainly doing the things in tax and infrastructure to be attrative to business”

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


Number 5 Number 7

No. 6Arizona

Taxations & Regulations

Workforce Quality

Living Environment

Based on CEO Survey by ChiefExecutive.net

Key Metrics
State GDP 
  • % Growth ’10-’11: 1.5
  • % Growth ’10-’11 v. Nat’l Avg. (1.5%): 0.0

Unemployment

  • Unemployment Rate Dec. 2012 %: 7.9
  • Comparison with Nat’l Rate (7.80%): 0.1

Domestic Migration

  • Domestic Net Migration ’10-’11: 13,150
  • Rank: 11

State Government

  • Debt per Capita Fiscal Year ’10 ($): 2,188
  • State & Local Gov’t Employees per 10k Residents: 473.1

State-Local Tax Burden

  • Rate (%): 9.1
  • Compared to Nat’l Avg. (9.9%): -0.77
Key Companies
  • Freeport-McMoran
  • Avnet
  • Republic Services
Development Trend Indicator: Positive
This year sales tax expires and corporate income and property taxes fall.
CEO Comments
“Arizona provides the best economic and social conditions, with room to grow, for business.”

“I’ve met four or five people over the past two weeks who are moving from California to Arizona because of the punitive taxation on the so called rich. The mad exodus has begun.”

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


Number 6 Number 8

No. 7Virginia

Taxations & Regulations

Workforce Quality

Living Environment

Based on CEO Survey by ChiefExecutive.net

Key Metrics
State GDP 
  • % Growth ’10-’11: 0.3
  • % Growth ’10-’11 v. Nat’l Avg. (1.5%): -1.2

Unemployment

  • Unemployment Rate Dec. 2012 %: 5.6
  • Comparison with Nat’l Rate (7.80%): -2.2

Domestic Migration

  • Domestic Net Migration ’10-’11: 15,538
  • Rank: 9

State Government

  • Debt per Capita Fiscal Year ’10 ($): 3,131
  • State & Local Gov’t Employees per 10k Residents: 574.0

State-Local Tax Burden

  • Rate (%): 12.3
  • Compared to Nat’l Avg. (9.9%): 2.41
Key Companies
  • Freddie Mac
  • Altria Group
  • Capital One Financial Corporation
  • General Dynamics
Development Trend Indicator: Sideways
Business hails new infrastructure spending but not resulting tax increases.
CEO Comments
“Virginia and North Carolina are exceptionally business friendly. Being a right to work state is a significant draw for our business and the workforce is exceptional at our locations. Great educational institutions and transportation systems.”

“Virginia has chambers and military affairs councils whoop dilgentlty work to maintain base presence in our state, which helps our economy, beings supporting business, and provides well qualified work forces.”

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


Number 7 Number 9

No. 8South Carolina

Taxations & Regulations

Workforce Quality

Living Environment

Based on CEO Survey by ChiefExecutive.net

Key Metrics
State GDP 
  • % Growth ’10-’11: 1.2
  • % Growth ’10-’11 v. Nat’l Avg. (1.5%): -0.3

Unemployment

  • Unemployment Rate Dec. 2012 %: 8.6
  • Comparison with Nat’l Rate (7.80%): 0.8

Domestic Migration

  • Domestic Net Migration ’10-’11: 22,013
  • Rank: 6

State Government

  • Debt per Capita Fiscal Year ’10 ($): 3,419
  • State & Local Gov’t Employees per 10k Residents: 577.2

State-Local Tax Burden

  • Rate (%): 9.2
  • Compared to Nat’l Avg. (9.9%): -0.66
Key Companies
  • Sonoco Products
  • AVX Corporation
  • SCANA Corp.
  • ScanSource
Development Trend Indicator: Sideways
Remains business-friendly but must close its unemployment-fund deficit.

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


Number 8 Number 10

No. 9Nevada

Taxations & Regulations

Workforce Quality

Living Environment

Based on CEO Survey by ChiefExecutive.net

Key Metrics
State GDP 
  • % Growth ’10-’11: 1.2
  • % Growth ’10-’11 v. Nat’l Avg. (1.5%): -0.3

Unemployment

  • Unemployment Rate Dec. 2012 %: 9.8
  • Comparison with Nat’l Rate (7.80%): 2.0

Domestic Migration

  • Domestic Net Migration ’10-’11: -11,113
  • Rank: 42

State Government

  • Debt per Capita Fiscal Year ’10 ($): 1,646
  • State & Local Gov’t Employees per 10k Residents: 431.9

State-Local Tax Burden

  • Rate (%): 9.3
  • Compared to Nat’l Avg. (9.9%): -0.55
Key Companies
  • Wynn Resorts, Limited
  • Southwest Gas Corporation
  • MGM Resorts
  • Las Vegas Sands
  • NV Energy
Development Trend Indicator: Sideways
Economic slack offers business opportunities, but legislature is hostile.
CEO Comments
“Nevada will grow, improve and succeed partly because of a “suicidal” California on it’s border….the business migration is a “snowball”….”

“Nevada is quickly adopting many of the practices that have driven businesses out of CA, makes you wonder what they are thinking.”

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


Number 9

No. 10Georgia

Taxations & Regulations

Workforce Quality

Living Environment

Based on CEO Survey by ChiefExecutive.net

Key Metrics
State GDP 
  • % Growth ’10-’11: 1.7
  • % Growth ’10-’11 v. Nat’l Avg. (1.5%): 0.2

Unemployment

  • Unemployment Rate Dec. 2012 %: 8.7
  • Comparison with Nat’l Rate (7.80%): 0.9

Domestic Migration

  • Domestic Net Migration ’10-’11: 17,726
  • Rank: 8

State Government

  • Debt per Capita Fiscal Year ’10 ($): 1,426
  • State & Local Gov’t Employees per 10k Residents: 545.7

State-Local Tax Burden

  • Rate (%): 9.0
  • Compared to Nat’l Avg. (9.9%): -0.90
Key Companies
  • Coca-Cola Company
  • United Parcel Service Inc.
  • Home Depot Inc.
  • AFLAC Incorporated
  • Delta Airlines
Development Trend Indicator: Negative
Must still address deficiencies in infrastructure and education system.
CEO Comments
“Traffic is the only drawback in Georgia. A great probusiness state. Tennessee has no state income taxes which is a huge plus”

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

2013 Best & Worst States for Business Links

2013 Best & Worst States for Business – Homepage
States More Aggressive in Competing With One Another
California Dreaming
Playing the Incentives Game
8 State Advocate CEOs
How CEOs Grade the States
Click here to see a slideshow of the 10 Best States for Business in 2013
Click here to see a slideshow of the 10 Worst States for Business in 2013

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