Indiana was ranked as the best place to do business in the Midwest and the fifth best nationwide in a survey of more than 500 chief executives by Chief Executive magazine.
According to a press release, the magazine’s ninth annual “Best & Worst States” survey asks CEOs to evaluate states based on business tax policies, regulation, work force quality and livability factors. Indiana’s ranking in the survey has moved up 11 places since 2010.
“On the heels of the largest state tax cut in Indiana history, this ranking is validation of the work we have done since day one to make Indiana the top jobs state in the country,” said Gov. Mike Pence. “With our talented work force, solid fiscal house and robust infrastructure, the Hoosier State’s job creation efforts are receiving national attention. Chief executives know that Indiana is one of the few states that actually works for business.”
Indiana’s No. 5 ranking makes it the only Midwestern state in the publication’s top five. Among neighboring states, Kentucky ranked 29th, Ohio ranked 22nd, Michigan ranked 44th and Illinois ranked 48th.
The Chief Executive magazine ranking is the latest in a series of national accolades Indiana’s business climate has garnered. Indiana’s business environment recently scored a top five finish nationally in the Pollina Corporate Top 10 Pro-Business States for 2012 study. Also, Area Development magazine rated Indiana as the best state for doing business in the Midwest and eighth nationally, according to an October 2012 survey of national location consultants and a review of Indiana’s economic development record.
Chief Executive magazine is a bimonthly publication for top management executives published by the Chief Executive Group LLC. The “Best & Worst States,” survey results are available at http://chiefexecutive.net/best-worst-states-for-business-2013.
The managing director of an economic development firm believes many Indiana companies are holding back on expansion plans until a clear direction comes out of Washington.
According to a report by Inside INdiana Business, Ginovus Managing Director Larry Gigerich says many of his company’s clients plan to “tred water” for the next 15 months, unless the federal government gets a handle on spending and concerns about the tax code. He says there was plenty of economic activity roughly one year ago in the state, but the brakes hit this past spring.
Gigerich says several factors have gone into the slowing of economic development deals including the debt ceiling debate and global factors including softening of some European economies the earthquake and tsunami in Japan.
Even though Indiana continues to hold its own in several national rankings, he says there is clearly a slowdown in the state and the rest of the country.
Gigerich says the Hoosier state has benefited from this year’s hike in corporate and personal income taxes in Illinois. Some companies have moved across the state line and those of those that stayed did so because Illinois ended up writing “huge checks.”
The head of a business capital firm says there is evidence that some businesses throughout the state are talking about expansion, according to Inside INdiana Business.
Cambridge Capital Management President Jean Wojtowicz says companies are not going to be quick to add people back after making it through the recession, which reflects the results of a recent Business Confidence Index.
Wojtowicz says many companies “did everything they could to squeeze expense” in order to survive the recession. She believes they will be very cautious when it comes to bringing workers back.
Wojtowicz says many expansions are being done with efficiency and productivity in mind involving technology and equipment as opposed to labor at this point.
Businesses in Indiana will soon face new penalties for knowingly hiring illegal immigrants, according to a report posted on Inside INdiana Business.
Gov. Mitch Daniels has signed legislation that would allow the Department of Workforce Development to file civil action to recoup unemployment benefits from employers who knowingly employ illegal aliens.
It would also ban state agencies and local governments from awarding a grant of more than $1,000 to a business unless they show appropriate documentation.
The measure also requires the Indiana Office of Management and Budget to calculate what illegal immigration costs Indiana taxpayers and make a written request to the U.S. Congress for reimbursement.
Indiana was ranked as the best place to do business in the Midwest and the sixth best nationwide in a survey of more than 500 chief executives by Chief Executive magazine.
The magazine’s seventh annual “Best & Worst States” survey asks CEO’s to evaluate states based on business tax policies, regulation, workforce quality and livability factors. Indiana’s 2011 ranking is up from 16th place in 2010. It’s among the highest year-to-year improvements in the survey.
“This ranking is a validation that business leaders recognize the work that Gov. Daniels and the General Assembly are doing to make Indiana the best possible place to do business,” said Mitch Roob, secretary of commerce and CEO of the Indiana Economic Development Corporation. “It seems fitting to celebrate this recognition on the same day that Amazon.com announced it will create hundreds of Indiana jobs by opening another fulfillment center here.”
Indiana’s 6th place ranking makes it the only Midwestern state in the publication’s top 10. Among neighboring states, Kentucky ranked 17th, Ohio ranked 41st, Michigan ranked 46th and Illinois ranked 48th.
The Chief Executive magazine rankings come less than a week after the state announced that it was the recipient of a 2011 Gold Shovel Award from Area Development magazine. The publication’s top honor for economic development efforts, the Gold Shovel was awarded based on the state’s 2010 performance in categories including total job creation, job creation per-capita, new capital investment and number of new facilities.
Chief Executive magazine is a bi-monthly publication for top management executives, headquartered in Greenwich, Conn. The “Best & Worst States,” survey results are available at: http://chiefexecutive.net/best-worst-states-for-business