Categories: 2014 Best & Worst States

North Dakota is 12th Best State for Business 2014

Previous State: Virginia Next State: Utah

No. 12 North Dakota

Taxations & Regulations

Workforce Quality

Living Environment

Key Metrics
State GDP % Growth ’12-’13: 9.7 % Growth ’11-’12 v. Nat’l Avg. (2.5%): 10.9 Unemployment Unemployment Rate Dec. 2013 %: 2.6 Comparison with Nat’l Rate (6.70%): -4.1 Domestic Migration Domestic Net Migration 2013: 16,961 Rank: 8 State Government State Debt per Capita Fiscal Year ’13 ($): 3,213 State & Local Gov’t Employees per 10k Residents: 649.5 State-Local Tax Burden Rate (%): 8.9% Compared to Nat’l Avg. (9.9%): -0.96%

Key Metrics

State GDP

% Growth ’12-’13: 9.7
% Growth ’11-’12 v. Nat’l Avg. (2.5%): 10.9

Unemployment

Unemployment Rate Dec. 2013 %: 2.6
Comparison with Nat’l Rate (6.70%): -4.1

Domestic Migration

Domestic Net Migration 2013: 16,961
Rank: 8

State Government

State Debt per Capita Fiscal Year ’13 ($): 3,213
State & Local Gov’t Employees per 10k Residents: 649.5

State-Local Tax Burden

Rate (%): 8.9%
Compared to Nat’l Avg. (9.9%): -0.96%

Key Companies
MDU Resources Titan Machinery Investors Real Estate Trust

Development Trend Indicator: Positive
Energy boom funds surprise $850-million property-tax reduction for residents.

CEO Comments
“The cost of doing business on the east coast vs. Midwest is dramatically different. I continue to move jobs out of PA and into other operations in KS, NE and ND as the costs (healthcare, workers comp) are significantly higher and worker productivity levels are significantly lower. East Coast employees have learned how to game the system and the elected officials appear to be OK with this.” “North Dakota: Bad weather, culture of getting things done, better place to live than California.”

CEO Comments

“The cost of doing business on the east coast vs. Midwest is dramatically different. I continue to move jobs out of PA and into other operations in KS, NE and ND as the costs (healthcare, workers comp) are significantly higher and worker productivity levels are significantly lower. East Coast employees have learned how to game the system and the elected officials appear to be OK with this.”

“North Dakota: Bad weather, culture of getting things done, better place to live than California.”

Based on CEO Survey by ChiefExecutive.net

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

J.P. Donlon

J.P. Donlon is Editor Emeritus of Chief Executive magazine.