The leading vote-getter of the survey, Georgia has done a superb job of looking at economic development holistically, balancing its cost of doing business environment with the right business incentives toolkit and the most recognized workforce development program. Access to skilled labor has and will continue to be the focus of most employers and having an elite workforce development program to offset any skills shortages due to tight labor market conditions is required to remain relevant as a top site selection destination.
Texas lags Georgia in the survey by a large margin specific to the workforce development category; however, the Lone Star State benefits from an ever-growing skilled labor pool that makes up for its lacking workforce development toolkit. Alabama, Louisiana, Tennessee, and South Carolina rank closely behind Georgia for their respective workforce development programs.
The key variable of overall cost of doing business is led by Texas; however, case studies are showing that the costs of labor and real estate, for example, have been trending upward for many years and are now showing Texas to be significantly less competitive than as little as five years ago.
It is important for states that have led the country in job growth over the last decade to be aware that a plateau may be coming and that they will need to continue to adjust their economic development tool chests to keep attracting growth versus adopting a complacent and less aggressive policy. There is no finish line in the race for economic development success, so states can never take their foot off the accelerator!
TOP STATES FOR DOING BUSINESS 2018
- 1.Georgia
- 2.Texas
- 3.Alabama
- 4.Tennessee
- 5.South Carolina
- 6.North Carolina
- 7.Louisiana
- 8.Mississippi
- 9.Indiana
- 10.Florida
- 11.Ohio
- 12.Arizona
- 13.tKentucky
- 13.tVirginia
- 15.Arkansas
- 16.Oklahoma
- 17.Utah
- 18.tMichigan
- 18.tNew York
- 20.Nevada
Individual Categories
Overall Cost of Doing Business
- 1.Texas
- 2.Tennessee
- 3.tGeorgia
- 3.tAlabama
- 5.tSouth Carolina
- 5.tMississippi
- 5.tIndiana
- 8.North Carolina
- 9.tLouisiana
- 9.tFlorida
- Other: KY
Corporate Tax Environment
- 1.Texas
- 2.tTennessee
- 2.tFlorida
- 4.Georgia
- 5.tNorth Carolina
- 5.tNevada
- 5.tSouth Dakota
- 8.South Carolina
- 9.tVirginia
- 9.tUtah
- Others: AL, IN, AZ, LA
Business Incentives Programs
- 1.South Carolina
- 2.tGeorgia
- 2.tAlabama
- 4.Mississippi
- 5.Texas
- 6.tTennessee
- 6.tLouisiana
- 8.Oklahoma
- 9.tIndiana
- 9.tOhio
- 9.tNew York
- 9.tNew Jersey
- Others: VA, KY
Access to Capital & Project Funding
- 1.California
- 2.tTexas
- 2.tNew York
- 4.North Carolina
- 5.tGeorgia
- 5.tMassachusetts
- 7.Florida
- 8.tTennessee
- 8.tIllinois
- 10.Louisiana
- Others: CO, NJ, MI, PA, CT, MD
Competitive Labor Environment
- 1.Texas
- 2.tGeorgia
- 2.tNorth Carolina
- 4.Florida
- 5.Tennessee
- 6.tAlabama
- 6.tIndiana
- 6.tArizona
- 9.tUtah
- 9.tOhio
- Others: SC, MS
Leading Workforce Development Programs
- 1.Georgia
- 2.Alabama
- 3.Louisiana
- 4.tSouth Carolina
- 4.tTennessee
- 6.North Carolina
- 7.tVirginia
- 7.tOhio
- 9.Florida
- 10.tMississippi
- 10.tIowa
- 10.tCalifornia
Shovel-Ready Sites Program
- 1.Tennessee
- 2.Georgia
- 3.Alabama
- 4.South Carolina
- 5.North Carolina
- 6.Ohio
- 7.Texas
- 8.tIndiana
- 8.tMississippi
- 10.tKentucky
- 10.tLouisiana
- Others: AR, VA, IA, WI
Cooperative & Responsive State Government
- 1.Georgia
- 2.South Carolina
- 3.North Carolina
- 4.Alabama
- 5.Tennessee
- 6.tMississippi
- 6.tLouisiana
- 8.Arizona
- 9.tIndiana
- 9.tVirginia
- Others: OH, TX, AR
Favorable General Regulatory Environment
- 1.tAlabama
- 1.tGeorgia
- 3.Texas
- 4.South Carolina
- 5.Tennessee
- 6.Louisiana
- 7.Mississippi
- 8.Florida
- Others: NC, IN, AR, KY, UT, KS, NV
Favorable Utility Rates
- 1.Alabama
- 2.Georgia
- 3.tIndiana
- 3.tOhio
- 3.tMichigan
- 6.tKentucky
- 6.tNorth Carolina
- 8.Tennessee
- 9.tSouth Carolina
- 9.tArizona
- 9.tVirginia
- Others: AK, ID, CO
Most Improved Economic Development Policies
- 1.Alabama
- 2.Georgia
- 3.Texas
- 4.tSouth Carolina
- 4.tMississippi
- 6.Tennessee
- 7.tLouisiana
- 7.tIndiana
- 9.Arizona
- 10.Kentucky
- Others: FL, OH, AR
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Categories:
- Overall Cost of Doing Business
- Corporate Tax Environment
- Business Incentive Programs
- Access to Capital & Project Funding
- Competitive Labor Environment
- Leading Workforce Development Programs
- Shovel-Ready Sites Program
- Cooperative & Responsive State Government
- Favorable General Regulatory Environment
- Favorable Utility Rates
- Most Improved Economic Development Policies