Competitive labor environments and leading workforce development programs, low taxes and utility costs, favorable regulatory environments, and cooperative state governments are among the top-ranked states’ pro-business attributes.
There’ a lot of prestige that comes from landing big-headline development projects, so it’s no wonder that states put powerful effort into making themselves great places to do business. Business success is a key component in a state’s economic health and, ultimately, individual prosperity and quality of life.
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Creating an environment as a top state for doing business is no easy task, though. It requires attention to a lot of detail, from tax policies to economic development programs to regulatory matters to support for a well-qualified workforce. Our survey identifies 11 separate components that each play a key role in just how ideal a state is as a place for doing business. Needless to say, the ones that do well in a lot of these areas tend to fare well overall.
As competitive as the environment is, with ever-shifting policies and programs, it’s clear that some states have really figured out how to hit the sweet spot. Georgia tops the list this year, as it has since 2014. Second-place Texas was third last year and the year before, and third-place Alabama was in the sixth spot in 2017 and 2016. Regular appearances at or near the top are a reflection of success, and the ongoing success that builds upon past wins and positive reputations.
TOP STATES FOR DOING BUSINESS 2018
- 5.SOUTH CAROLINA
- 6.NORTH CAROLINA
- 18.tNEW YORK