he following pages highlight recent corporate facility projects, new laws and incentives policies, wages, employment, demographics and cost-of-doing-business facts in one easy-to-digest compendium.
Total state government revenue increased to $2.3 trillion in 2011, up 11.3 percent from $2.0 trillion in 2010, according to the latest report from the U.S. Census Bureau issued in early December. General revenues were $1.7 trillion in 2011, a 5.7-percent increase from 2010. General expenditures by state governments rose 3.7 percent in 2011 to $1.7 trillion.
A September report from the National Conference of State Legislatures found that legislative fiscal directors in nearly three-fourths of the states and the District of Columbia anticipate total tax growth between 1 percent and 4.9 percent in FY 2013. Nineteen states project increases of at least 5 percent in corporate income taxes, with eight projecting double-digit growth.
A separate report from NCSL found that out of 174 ballot measures considered by the electorates of 38 states, “voters rejected most proposed tax cuts, including a new state revenue limitation in Florida and a 2/3 legislative vote for tax increases in Michigan.” However, “Arizona voters rejected a measure making a temporary sales tax increase permanent. It funded various education programs. South Dakota voters rejected a sales tax increase that would have been split 50/50 between K-12 education and Medicaid. Missouri voters appear to be rejecting a tobacco increase that would have sent revenue to education, while Oregon voters approved the idea of redirecting a corporate “kicker,” a refund for corporate income tax revenue that is collected in excess of a state-imposed cap, to education.”
— Adam Bruns
A note on the layout: Our business plan for this project offered exclusive sponsorship to advertisers allied with particular states, up to a full page. States supported by a half-page or less of advertising are represented here by half-pages of data.
Data Sources include: EASI Demographics; Hickey & Associates LLC State Incentives Database; BLS; BEA; NBER; Census Bureau; Conway Data; state chambers of commerce, economic development agencies and associations; press reports; governors’ offices; law firms; and legislative documents.