Many factors can influence the choice of where to do business. Companies want to ensure a good workforce with people with the right skills for the job.
They want to get things done with minimal red tape and find a place with good infrastructure. Some states have all these features and more, making them better places to do business.
A recent study ranked all the states in the following 14 categories:Â 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 and Speed of Project Permitting.
These are the top 15 states in which to do business in America.
Georgia
According to the study, Georgia has a large and educated population with plenty of highly skilled workers. The state often gives companies huge tax breaks to set up business there. And, the weather’s great much of the time.
South Carolina
With a good infrastructure and a competitive job market, many companies are doing business in South Carolina. There are many population centers where businesses can be located.
Tennessee
Workers in the South tend to be more loyal to companies, and this can come in handy for lowering the turnover rate. Tennessee has many cities, each with its own charm. They also have low-cost power, thanks to TVA.
North Carolina
Parts of North Carolina have become tech hubs with a lot of companies moving in and filling their tech jobs. The population is educated and red tape is kept to a minimum to attract new jobs to the area.
Ohio
Ohio has a lot of infrastructure already in place, and it often offers good tax breaks to businesses. It’s been attracting large manufacturing plants because of its populous and skilled labor force.
Alabama
Alabama consistently gives companies huge tax breaks to move to the state. It also has a lot of educated tech personnel who can fit even the most intricate tech job descriptions.
Indiana
Starting a business in Indiana comes with very low fees and a minimal amount of red tape. The state wants to make it easy for companies, and they have funds that are available for some businesses to help them get started and grow.
Texas
The spirit of doing whatever you want is strong here, and they keep the amount of red tape and business costs low. Some of the biggest companies around are moving to Texas for its many financial benefits.
Virginia
Because it abuts Washington, D.C., there are a lot of businesses eager to do business close to the capital. It has a large and experienced populace that has the kind of education needed by many businesses.
Mississippi
With one of the lowest costs of living, low corporate taxes, and one of the lowest property taxes, many companies are moving to Mississippi. The state makes it a point to be business-friendly to attract new jobs.
Louisiana
The cost of everything is lower in Louisiana, and that includes the cost of doing business. Many companies relocate here because the costs are so low and there are so many people available for new jobs.
Arizona
Arizona might not have a good infrastructure everywhere, but it does in the population centers. That infrastructure and the low cost of doing business have put Arizona on the map for site selections.
Michigan
Michigan has an educated populace and a long history of large-scale business success. The state is always looking for new businesses to move there, and they often offer tax breaks.
Kentucky
As a state that’s located very centrally, this state often draws in companies that need distribution centers and similar properties. It’s also a low-cost state that is among the cheapest to do business in.
Florida
Florida has low taxes and a setting that people want to be in. It also has nice weather most of the time, and this is perfect for many types of businesses. It also has no personal income tax, so it’s favored by many of the people you want to attract to the company.
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