One observation is that the majority of the top states have aggressive utility economic development programs, such as TVA, FPL, the SC Power Team, and Georgia Power. This is important as these states have resources other than the state and local EDO that can provide additional funding and assistance with site development, incentives, and other programs.
Another observation is that three of the top 10 states — Texas, Tennessee, and Florida — have no personal income tax. With that said, based on the survey results, the following states rank in the top five for corporate tax environment: Texas (1), Tennessee (2), Florida (2), Georgia (4), and North Carolina tied with Nevada and South Dakota for fifth place. These results are somewhat in line with the Tax Foundation’s 2018 State Business Tax Climate Index ranking of corporate taxes1 as follows: South Dakota (1); North Carolina (3); Georgia (10); Florida (19); and Tennessee (21). Texas is surprisingly ranked 49th for corporate taxes by the Tax Foundation, but its overall ranking in the Tax Foundation’s 2018 State Business Tax Climate2 is 13th. Other than Texas, the best overall ranking on the Index is South Dakota (2), Florida (4), North Carolina (11), and Tennessee (14).
The majority of the Southern States also rank high related to competitive labor environment, workforce development programs, shovel-ready sites, incentives and economic development policies, indicating they will probably be seen again next year.
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
-
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