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Area Development - Site Selection, Facility Planning and Workforce Development

2022 Top States Commentary: Site Selection – When You Are Good, You Win!

The states that consistently rank as “top states” understand what companies are looking for in a location and have a plan that responds to the economy of the future.

Q3 2022
In a year — or should I say era — of mega-projects, I have wondered if these states will be able to sustain the victories, or will the wins put these states in the middle of the pack? Since the beginning of the pandemic, the states have really worked hard to adapt to the new normal. Looking at the rankings and looking at the mega-projects announced over the past year, the two go hand-in-hand.

The rankings have shown that the leaders in economic development pre-pandemic have not changed during the pandemic or even in what I should say is the new normal. The fraternity of Georgia, Alabama, North Carolina, South Carolina, Tennessee, Texas, Ohio, and Indiana have sustained and battled through the black swan event. However, the one member that is on the list now three years in a row is Virginia. Virginia moved up the rankings by developing a statewide strategy that met the market’s needs.

So how does a state move up on the list? They start by listening to the market and understanding what companies are looking for in a location. If you look at all the states that have continuously been in the top for the past five years, they have spent a considerable amount of time and effort listening to the market. Economic development is no longer just recruiting and retaining companies. It is about being forward-looking to not only develop and grow the economy of the now, but to have a plan that responds to the economy of the future.

For these states to continue or for new leaders to emerge, they need to understand what is needed. What do companies need, what do residents of the state need, and how can a particular state stand out? The first thing to remember is that economic development is a team sport! The states that win play hard as a team! However, the one thing all these states in the top 10 have in common is that they listen and find a way to get to yes and try to avoid saying no.

TOP STATES FOR DOING BUSINESS 2022

  1. 1. Georgia
  2. 2. Tennessee
  3. 3. South Carolina
  4. 4. Texas
  5. 5. North Carolina
  6. 6. Alabama
  7. 7. Virginia
  8. 8. Ohio
  9. 9. Indiana
  10. 10. Mississippi
  11. 11. Florida
  12. 12. Louisiana
  13. 13. Arizona
  14. 14. Michigan
  15. 15. New York
  16. 16T. California
  17. 16T. Illinois
  18. 18. Kentucky
  19. 19T. Oklahoma
  20. 19T. Utah

Individual Categories

Workforce Development Programs

  1. 1. Georgia
  2. 2. Virginia
  3. 3. South Carolina
  4. 4T. Alabama
  5. 4T. Louisiana
  6. 6. Tennessee
  7. 7. North Carolina
  8. 8T. Arizona
  9. 8T. Michigan
  10. 8T. Texas

Overall Cost of Doing Business

  1. 1. Georgia
  2. 2. Tennessee
  3. 3. South Carolina
  4. 4. Alabama
  5. 5. North Carolina
  6. 6. Texas
  7. 7T. Indiana
  8. 7T. Mississippi
  9. 9T. Arizona
  10. 9T. Florida
  11. 9T. Ohio

Site-Readiness Programs

  1. 1. Tennessee
  2. 2. Georgia
  3. 3. South Carolina
  4. 4T. North Carolina
  5. 4T. Ohio
  6. 6. Virginia
  7. 7T. Indiana
  8. 7T. Texas
  9. 9. New York
  10. 10. Alabama

Cooperative & Responsive State Government

  1. 1. Georgia
  2. 2T. North Carolina
  3. 2T. Tennessee
  4. 4. South Carolina
  5. 5. Ohio
  6. 6. Virginia
  7. 7. Louisiana
  8. 8T. Alabama
  9. 8T. Arizona
  10. 8T. Arkansas
  11. 8T. Michigan
  12. 8T. Mississippi
  13. 8T. Texas

Favorable Regulatory Environment

  1. 1. South Carolina
  2. 2. Georgia
  3. 3T. Alabama
  4. 3T. Tennessee
  5. 5. North Carolina
  6. 6. Indiana
  7. 7. Texas
  8. 8. Florida
  9. 9T. Arizona
  10. 9T. Virginia
  11. 10T. Louisiana
  12. 10T. Mississippi

Corporate Tax Structure

  1. 1. Texas
  2. 2. Tennessee
  3. 3. Florida
  4. 4. North Carolina
  5. 5. Nevada
  6. 6T. Georgia
  7. 6T. South Dakota
  8. 8T. Alabama
  9. 8T. Indiana
  10. 8T. Utah

Business Incentives Programs

  1. 1. Georgia
  2. 2. South Carolina
  3. 3. Tennessee
  4. 4. Ohio
  5. 5. Alabama
  6. 6. Indiana
  7. 7. Virginia
  8. 8T. Mississippi
  9. 8T. North Carolina
  10. 10T. Kentucky
  11. 10T. Louisiana
  12. 10T. Texas

Competitive Labor Environment

  1. 1. Georgia
  2. 2T. Texas
  3. 2T. Tennessee
  4. 4. North Carolina
  5. 5. South Carolina
  6. 6T. Arizona
  7. 6T. Michigan
  8. 8T. Ohio
  9. 8T. Virginia
  10. 10. Alabama

Logistics & Infrastructure

  1. 1. Georgia
  2. 2. Virginia
  3. 3T. Ohio
  4. 3T. Texas
  5. 5. Indiana
  6. 6. South Carolina
  7. 7. Tennessee
  8. 8. Illinois
  9. 9. North Carolina
  10. 10. Florida

Access to Capital & Funding

  1. 1. California
  2. 2. Texas
  3. 3. New York
  4. 4T. Massachusetts
  5. 4T. Virginia
  6. 6. Illinois
  7. 7. Georgia
  8. 8T. Michigan
  9. 8T. North Carolina
  10. 10T. Colorado
  11. 10T. Tennessee

Available Real Estate

  1. 1. Georgia
  2. 2T. South Carolina
  3. 2T. Texas
  4. 4. Tennessee
  5. 5. Ohio
  6. 6. North Carolina
  7. 7T. Alabama
  8. 7T. Indiana
  9. 9. Michigan
  10. 10T. California
  11. 10T. Florida
  12. 10T. Illinois

Energy Availability & Costs

  1. 1T. Georgia
  2. 1T. Tennessee
  3. 3T. Alabama
  4. 3T. North Carolina
  5. 5. Mississippi
  6. 6T. Louisiana
  7. 6T. South Carolina
  8. 8T. Iowa
  9. 8T. New York
  10. 8T. Ohio
  11. 8T. Oklahoma
  12. 8T. Texas
  13. 8T.

Speed of Project Permitting

  1. 1. Alabama
  2. 2T. Georgia
  3. 2T. South Carolina
  4. 4. Tennessee
  5. 5T. Mississippi
  6. 5T. Texas
  7. 7T. Arizona
  8. 7T. Indiana
  9. 7T. Louisiana
  10. 10. Virginia

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