“Gov. Corbett came into office in 2011 inheriting a $4.2 billion budget deficit and a business climate much maligned for nearly a decade," Kelli Roberts, Deputy Director of Communications to Gov. Tom Corbett, told Chief Executive magazine in February. In two and a half years, the governor eliminated significant budget deficits without raising taxes on families and implemented significant business tax and climate reforms ... [putting] Pennsylvania’s economy back on the path to prosperity.”
Despite falling six spots from last year, one respondent reported that Oklahoma was “business friendly,” possibly due to the fact that Oklahoma did trim some taxes last year. However, the state also dropped from 14th to 21st for economic rank in the American Legislative Exchange Council economic competitiveness assessment.
In Washington state, small businesses are adding jobs faster than in any other state in the country, according to CCNMoney.com. The jobless rate was just 6.7% in March, with 6,700 new jobs created, according to GeekWire. In Seattle, the jobless rate was even lower, at 5.2%. The city plans to raise its minimum wage to $15/hour.
According to the U.S. Bureau of Labor Statistics, 46,000 new jobs were added to the Kansas economy over the last three years. Compared to neighboring states, Kansas ranks fourth out of five for job growth. However, when looking at the 58,000 jobs Kansas lost in 2009, according to the Kansas City Star, it appears that Kansas is on its way back up.
Recent investments by companies such as Apple, SolarCity and eBay have helped turn the state in the right business-friendly direction. Adding to the progress is a congressional push toward building out Interstate 11, to create a superhighway from Phoenix to Nevada.
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The state’s GDP growth is lower than the national average at 0.5%. Its unemployment rate is also lower at 6.2%, but it’s state-local tax burden is higher at 10.3%.
Every time a site consultant or state economic-development official turns around, some automaker or large supplier is expanding a plant, ordering tooling for a promising future model, domesticating production that occurred offshore or even plotting a whole new facility. It’s happening across America’s increasingly prosperous auto belt.
Maryland is considered a “top 5” state for biotech. The state counts more than 33,000 bioscience jobs and more than 1,800 enterprises specializing in research and pharmaceuticals. Its drug and pharma sector has grown by 37 percent since 2001.
Crowdfunding is providing funding opportunities for startups that they would not have previously had.