Report: Indiana Top 10 for Business Climate
For the third time in three years, Indiana’s business climate scored a Top 10 finish nationally in Site Selection magazine’s 2010 business climate rankings.
Feedback from a survey of national real estate executives and a review of Indiana’s economic development record earned the state recognition as the eighth best place for business in the U.S., up one spot from ninth in 2009, according to a news release.
Some 70% of all RVs are manufactured in the Hoosier state, primarily in Elkhart County.
The Site Selection ranking, released today (Nov. 2) in the magazine’s November 2010 issue, comes less than one week after the Tax Foundation recognized Indiana for having the best business tax climate in the Midwest and the 10th best overall, up from 12th in 2009. A nonpartisan tax research group based in Washington, D.C., the Tax Foundation study measures five indexes of states’ business tax competitiveness including property tax rates, sales tax, individual tax, corporate tax and unemployment insurance taxes.
“In tough economic times, it’s important to stand out, and now for the third time in a month, the world is reading that Indiana is among the best places to bring jobs,” said Mitch Roob, secretary of commerce and CEO of the Indiana Economic Development Corp.
In October, Area Development magazine rated Indiana’s business climate best in the Midwest and sixth best in the U.S., according to a survey of national site selection consultants. The state was also among the consultants’ top-five picks in the rail and highway accessibility (second), labor climate (third), fast-track permitting (fourth), most business friendly (fifth), and lowest business costs (fifth) categories.
Site Selection’s annual business climate rankings are determined in part by performance of the state in Conway Data’s New Plant Database, which tracks new and expanded business facility activity, and also by a survey of corporate site seekers across the country. The survey asked companies to identify the top 10 state business climates, taking into consideration such factors as lack of red tape, financial assistance and government officials’ cooperation. Respondents were also asked to rank the factors most important to them when determining a location for a new facility.
Site Selection’s business climate survey story, as well as the publication’s annual state legislative and incentives update, appears in the November 2010 edition and at www.sitenet.com.
Site Selection magazine, published by Conway Data Inc., delivers expansion planning information to 44,000 executives of fast-growing firms. The senior publication in the development field, Site Selection is also available via Site Selection Online (www.siteselection.com. SiteNet Dispatch, a weekly e-mail newsletter, goes to more than 41,000 industry professionals.