Tennessee ranked in Area Development’s 2011 Top States For Doing Business

9/22/2011

For the second year in a row, Area Development has conducted a survey of a select group of highly respected location consultants who work with a nationwide client base.

The consultants named their top-5 state choices in 12 site selection categories. States were ranked in each of the 12 site selection categories based on the number of times they were named as a "top-5" choice by the responding consultants. Next, a top-5 state's ranking in each of the 12 categories was assigned a weight in accordance with its position in these individual categories. Based on these total weighted scores, Texas is the consultants' #1 choice for doing business, followed by Georgia, Alabama, South Carolina and finally Indiana in the #5 spot. Taking the #6–#10 rankings based on weighted scores are Louisiana, North Carolina, Tennessee, Mississippi, and California.

According to the results of the survey, Tennessee ranked first in the overall infrastructure and global access category; specifically it was tied for first place for its certified sites and shovel-ready programs, second in competitive utility rates, and tied for fourth in rail and highway accessibility. Tennessee is also among the states leading in the economic recovery (tied for 4th). This is a state with a laser-like focus on recovering from the recession.

Tennessee is well known for its almost $3 billion agriculture industry, providing commodities such as soybeans, cattle, corn, cotton, dairy products, wheat, apples, squash, and honey for U.S. and international markets. The continuation of high crop prices in 2010 should yield higher revenues for farmers throughout this year. In addition, Tennessee’s agribusiness industry, coupled with its continued investment in biofuel research, could put Tennessee at the front of the line in the production of renewable energy. The state’s emphasis on professional and business services, mining and construction, health, and education services is also expected to drive strong rates of job and revenue growth.

Recently, Kruger, a manufacturer of paper and tissue products, committed to investing $136 million to expand an existing mill in Memphis. “Established Tennessee companies such as Kruger provide a solid foundation on which our state’s economy will continue to grow,” said Tennessee’s Governor Bill Haslam.

Also recently announced, Quaprotek, a leading supplier to the automotive industry, will locate its manufacturing facility in Ripley, Tennessee, for the production of metal parts for vehicles, engines, and power trains. “Quaprotek’s decision tells us that Governor Haslam’s Jobs4TN strategy is striking the right balance between serving Tennessee’s existing business and aggressively recruiting new companies to our state,” said Economic and Community Development Commissioner Bill Hagerty.

Source: Area Development