November 2, 2009
Site Selection Names Top State Business Climates
Atlanta, November 2, 2009: Site Selection magazine has named North Carolina the state with the Top Business Climate for 2009. As revealed in the November 2009 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 for the fifth year in a row, and for the eighth time in the last nine years. Texas placed second this year, with Virginia rising from eighth last year to third this year. Ohio takes fourth this year, and Tennessee rounds out the top five. Among North Carolina's strengths cited by executives were the state's tax climate, work force, incentives and economic development strategy, non-union environment, utility infrastructure, and legal and regulatory environment. Helping build and retain the talent base and corporate community all at once is a high-caliber infrastructure of higher learning, a topic explored at length in the magazine's November cover story. "The concentration of brainpower and R&D activity in North Carolina cuts across many disciplines, territories and institutions," says Adam Bruns, managing editor of Site Selection. "Research parks, schools, companies and communities in the state have developed a real knack for working across boundaries, and it continues to pay off." 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 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, North Carolina ranked second behind Texas. Georgia, South Carolina and Tennessee placed third, fourth and fifth, respectively. 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 transportation infrastructure, existing work force skills, and state and local tax schemes. The entire Business Climate story, as well as the publication's annual legislative and incentives analysis, appears in the November 2009 edition of Site Selection and at www.siteselection.com. 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). The SiteNet Dispatch, a weekly e-mail newsletter, goes to more than 29,000 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. TOP TEN STATE BUSINESS CLIMATES 2009
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