Tennessee ranks second in Site Selection magazine’s State Business Climate survey
Wednesday November 05, 2008
Site Selection’s 2008 State Business Climate survey ranked Tennessee as the second state in the country...
Site Selection's 2008 State Business Climate survey ranked Tennessee as the second state in the country with the best business climate. Among the strengths cited by numerous corporate executives were the state's incentives offerings, tax climate, work force, higher education resources and economic development team.
The annual business climate rankings are determined 50 percent by performance of the state in Conway Data's New Plant Database, which tracks new and expanded business facility activity, and 50 percent by a survey of corporate site seekers across the country. The survey considered such factors as lack of red tape, financial assistance and government officials' cooperation.
Site selectors also were asked to rank the factors most important to them when determining a location for a new facility. The top three factors are ease of permitting and regulatory procedures, transportation infrastructure and existing work-force skills.
