A second observation was that although Southern States continue to dominate the top spots in the 2023 Top States survey, there are once again two Midwestern States in the top 10 – Ohio (#5) and Indiana (#7). These states rank particularly well in four areas that have helped elevate them to the top tier of the overall ranking and keep them there — competitive labor market, logistics and infrastructure, site-readiness programs, and business incentive programs.
For the most part, the states that rank highly in the overall list perform well in each of the categories examined. One notable exception is access to capital and funding. California claimed the top spot on this list, the only appearance for California within the 2023 results. There were just three Southeast States in the top 10 within this category — Georgia (#5), Virginia (#6), and North Carolina (#8).
The rankings for utilities are the final items of note. Utility demands have increased in recent years — and not just for mega projects. Projects of all sizes are seeking higher utility capacities than ever before. For this reason, the importance of energy availability and costs and of water availability are more critical than in the past and are likely to continue to grow in importance. Not surprisingly, Southeast States are ranked as the top five locations for energy availability and costs. In contrast, the top rankings for water availability went to two Midwestern States — Ohio (#1) and Michigan (#2).
TOP STATES FOR DOING BUSINESS 2023
- 1. Georgia
- 2. South Carolina
- 3. Tennessee
- 4. North Carolina
- 5. Ohio
- 6. Alabama
- 7. Indiana
- 8. Texas
- 9. Virginia
- 10. Mississippi
- 11. Louisiana
- 12. Arizona
- 13. Michigan
- 14. Kentucky
- 15. Florida
- 16. New York
- 17. Iowa
- 18. Arkansas
- 19. Kansas
- 20. Illinois
Individual Categories
Workforce Training Programs
- 1. Georgia
- 2. Virginia
- 3. South Carolina
- 4. Louisiana
- 5. Alabama
- 6. Tennessee
- 7. North Carolina
- 8. Indiana
- 9. Arizona
- 10. Ohio
Overall Cost of Doing Business
- 1. Georgia
- 2. Alabama
- 3. Tennessee
- 4. South Carolina
- 5. North Carolina
- 6. Indiana
- 7. Mississippi
- 8. Ohio
- 9. Texas
- 10. Louisiana
Business Incentives Programs
- 1. Georgia
- 2. South Carolina
- 3. Ohio
- 4. Indiana
- 5. Tennessee
- 6. North Carolina
- 7. Alabama
- 8. Virginia
- 9. Arkansas
- 10. Mississippi
Access to Capital & Funding
- 1. California
- 2. New York
- 3. Texas
- 4. Massachusetts
- 5. Georgia
- 6. Virginia
- 7. Illinois
- 8. North Carolina
- 9.Arizona
- 10. Maryland
Competitive Labor Environment
- 1. Georgia
- 2. North Carolina
- 3. Ohio
- 4. South Carolina
- 5. Indiana
- 6. Texas
- 7. Virginia
- 8. Tennessee
- 9. Arizona
- 10. Alabama
Energy Availability & Costs
- 1. Georgia
- 2. Tennessee
- 3. South Carolina
- 4. Alabama
- 5. North Carolina
- 6. Texas
- 7. Washington
- 8. Oregon
- 9. Indiana
- 10. Iowa
Water Availability
- 1. Ohio
- 2. Michigan
- 3. Tennessee
- 4. South Carolina
- 5. North Carolina
- 6. Georgia
- 7. New York
- 8. Wisconsin
- 9. Washington
- 10. Virginia
Logistics & Infrastructure
- 1. Georgia
- 2. Texas
- 3. Indiana
- 4. Ohio
- 5. South Carolina
- 6. Virginia
- 7. Tennessee
- 8. Kentucky
- 9. North Carolina
- 10. Illinois
Available Real Estate
- 1. South Carolina
- 2. Texas
- 3. Ohio
- 4. Georgia
- 5. North Carolina
- 6. Indiana
- 7. Tennessee
- 8. Virginia
- 9. Alabama
- 10. Arizona
Cooperative & Responsive State Government
- 1. Georgia
- 2. Tennessee
- 3. North Carolina
- 4. South Carolina
- 5. Ohio
- 6. Indiana
- 7. Virginia
- 8. Alabama
- 9. Arizona
- 10. Michigan
Corporate Tax Structure
- 1. Florida
- 2. North Carolina
- 3. Texas
- 4. Tennessee
- 5. Indiana
- 6. Georgia
- 7. Nevada
- 8. South Dakota
- 9. Ohio
- 10. Arizona
Site-Readiness Programs
- 1. South Carolina
- 2. Georgia
- 3. Ohio
- 4. Tennessee
- 5. Indiana
- 6. North Carolina
- 7. Virginia
- 8. Alabama
- 9. Kentucky
- 10. Iowa
Favorable Regulatory Environment
- 1. Alabama
- 2. South Carolina
- 3. Georgia
- 4. Tennessee
- 5. North Carolina
- 6. Indiana
- 7. Ohio
- 8. Texas
- 9. Louisiana
- 10. Mississippi
Speed of Project Permitting
- 1. South Carolina
- 2. Alabama
- 3. Georgia
- 4. Mississippi
- 5. Tennessee
- 6. Indiana
- 7. Virginia
- 8. Ohio
- 9. Iowa
- 10. North Carolina
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Categories:
- Workforce Training Programs
- Overall Cost of Doing Business
- Business Incentive Programs
- Access to Capital & Funding
- Competitive Labor Market
- Energy Availability & Costs
- Water Availability
- Logistics & Infrastructure
- Available Real Estate
- Cooperative & Responsive State Government
- Corporate Tax Structure
- Site-Readiness Programs
- Favorable Regulatory Environment
- Speed of Project Permitting