April 15, 2014 (Indianapolis) – Indiana’s big move up in a national ranking for economic competitiveness is a good reason to celebrate even on Tax Day, said the National Federation of Independent Business (NFIB) today.
“Indiana is steadily moving up the ladder and it’s due mainly to the strong pro-growth consensus in Indianapolis,” said NFIB State Director Barbara Quandt. “Indiana is definitely turning heads and ultimately that’s a good thing for our economy.”
The American Legislative Exchange Council (ALEC) today released its 2014 Rich States-Poor States Economic Competitive Index, which ranks states based on number of factors, including tax rates, labor laws and regulations. This year Indiana moved up in the ranking from 14th to 3rd mainly on the strength of its Right to Work law and lower taxes.
“Over the course of two administrations we’ve made dramatic progress in terms of improving our business climate and we are increasingly recognized as one of the best states in America in which to start and grow a business,” said Quandt. “Right to Work was crucially important because it made us immediately competitive with some of the Sun Belt states that had previously attracted much of the investment. Governor Pence has moved the ball even farther up the field with a number of important tax reforms.”
Indiana also hasn’t joined the bandwagon of states now pushing to raise the minimum wage and its fiscal stability is a confidence booster, according to Quandt.
“There are two competitions going on right now across the country and the results are going to be interesting,” she said. “Some states are competing with each other for new business investment and new jobs. Indiana is among those states and we’ve moved up the rankings as a result.
“Another group of states is competing to see who could pass the most aggressive tax increases and labor regulations,” Quandt continued. “We’ll see how that works out. I can tell you that small business owners in Indiana very much like the direction of the state and they feel very good about our competitive position.”
For more information about NFIB, please visit www.nfib.com.