Site Selection Names Top Business Climates
Atlanta, November 2, 2005: Site Selection magazine has named North Carolina the state with the Top Business Climate for 2005, reclaiming the top spot from Texas, which had unseated a North Carolina's three-year claim to first place from 2001 through 2003. Texas placed second this year. As revealed in the November 2005 issue of the magazine, research based in part on a survey of corporate real estate executives has identified the Tar Heel State's overall climate for capital investment to be tops in the United States. Rounding out the top five are Georgia, Ohio and Tennessee.
North Carolina Governor Michael Easley credits his state's highly skilled labor force and low cost of doing business relative to other states with a large number of technology-industry workers as the keys to executives' favorable impressions of the state. “We can do everything they can do about 25 percent cheaper in terms of labor capital expenditures and land acquisition,” he told Site Selection. “The skills are rising much faster than the cost of doing business is, and that makes our state attractive to business.”
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. More than 100 corporate decision-makers responded to the survey, which asked, “Based upon your experience, what are the top 10 state business climates, taking into consideration such factors as lack of red tape, financial assistance and government officials' cooperation?” By this measure alone, Texas ranked first, followed by Georgia and North Carolina.
“This year's business climate ranking is much like the 2004 ranking, with Southern states garnering significant attention from corporate expansion planners,” says Mark Arend, Editor of Site Selection. “Eight of the top 10 states among their picks for top business climates are southern.” Arizona and Nevada also made the Top Ten list.
The entire Business Climate story, as well as the annual state legislative and incentives update, appears in the November 2005 edition of Site Selection and at www.sitenet.com. Also featured in the issue:
Site Selection magazine, published by Conway Data Inc., delivers expansion planning information to 44,000 executives of fast-growing firms. The senior publication in the development field, Site Selection is also available via Site Selection Online (www.siteselection.com). SiteNet Dispatch, a weekly e-mail newsletter, goes to more than 22,000 industry professionals.
Conway Data is an international publishing and association management company headquartered in Atlanta. The firm manages the Industrial Asset Management Council, the Development Hall of Fame and the World Development Federation (WDF), offers consulting services and awards the annual Conway Safe Skies Award.