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From Site Selection magazine, January 2023

mong the themes to emerge across the 50 state legislatures and governor’s offices over the past year is how to attract funding from a family of major federal programs toting hundreds of billions of dollars in funds. The various challenges and grants follow closely behind Recovery Act funds for which the states are still finding, it is presumed, the highest, best use.

But there are other motifs arising across the land: Broadband expansion to reduce the digital divide is one. Prioritizing career and technical education is another. And don’t forget finding ways to prepare shovel-ready sites.

In the following pages, you’ll find demographic, GDP and credit rating data insights, legislative updates, agency information, governor quotes and, in some cases, “Project Watch” spotlights* that shed light on the economies, workforce and business climates of all 50 states. You’ll also find our “Rankings that Matter,” which include each state’s rank in the following economic development yardsticks:

Tax Icon The Tax Foundation 2023 State Business Tax Climate Index (Oct. 2022)
Education Icon

2021 Higher Education R&D Expenditure (total in $000s in parentheses), according to the National Center for Science and Engineering Statistics, Higher Education Research and Development Survey

Career Icon

Percent improvement in ACT National Career Readiness Certificates earned by working-age adults Dec. ’21 – Nov. ’22

Work Icon

Workers’ Compensation Premium Rate state rankings by the Oregon Department of Consumer and Business Services’ IT and Research Division, October 2022

Power Icon

Lowest Industrial Electric Power Cost (¢/kWh, EIA, August 2022)

Rank Icon

Fiscal Health (Pew Charitable Trusts’ Fiscal 50 resource)

Mix and match these data points according to your own organization’s site selection priorities, and let the facts guide you toward the best location choice.

This report was compiled, edited and designed by Mark Arend, Adam Bruns, Gary Daughters, Alexis Elmore, Karen Medernach, Daniel Boyer, McKenzie Wright, Brian Espinoza and Richard Nenoff.

A note about the layout: States supported by a full page of advertising have full data pages including project charts and Pandemic Recovery and Response facts. Therefore, states do not always appear in alphabetical order.

Other sources: ESRI (state populations), S&P Global Ratings’ U.S. State Ratings 11/22/2022; National Right to Work Legal Defense Foundation; U.S. Bureau of Labor Statistics; C2ER; National Bureau of Economic Research; U.S. Census Bureau; Conway Analytics’ Conway Projects Database; state chambers of commerce, economic development agencies and business/industry associations; press reports; governors’ and corporate press rooms; law firms;; and legislative research services.



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