Georgia’s economic outlook ranks high nationwide as a result of its beneficial tax and minimum wage policies.
Georgia came out near the top in a 2015 economic outlook, underscoring the Peach State’s pro-business policies.
In the 2015 edition of the “Rich State, Poor States” report released by the American Legislative Exchange Council (ALEC), Georgia ranked No. 7 in the nation for its positive economic outlook. However, the state’s performance rank, a measure that looks back at previous performance, was No. 25.
Georgia’s high outlook ranking was a result of its pro-business tax laws and low minimum wage—and the Peach State earned the No. 1 spot for both. In addition, Georgia came in first for not having a burdensome estate tax and its Right-to-Work status, both policies that improve business conditions.
Georgia has continually ranked high for its economic outlook, ranking No. 1 for remaining tax burden. The state’s economic performance rating was dragged down by a slow state gross domestic product, which plummeted to a No. 42 ranking nationwide, with slow cumulative growth.
Kyle Jackson, NFIB/Georgia state director, says there’s still more work to be done to make Georgia’s tax system beneficial for small employers, but the state’s fiscal policies have helped it remain near the top.
“We have the highest bond rating we can have as a state,” says Jackson. “I think that’s largely because we are fiscally responsible. We didn’t do some of the fiscally reckless things like Medicaid expansion and expanding entitlement programs that other states have done to put them on shaky financial footholds. I think that’s why we are where we are.”
