Categories: 2014 Best & Worst States

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 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 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 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 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.”

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 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 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 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.”

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 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 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 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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