A Q3 2019 analysis by Area Development ranked Tennessee the second-best state to do business with Georgia taking the top spot.
A Q3 2019 analysis by Area Development ranked Tennessee the second-best state to do business with Georgia taking the top spot.
According to the methodology for the survey, the rankings reflect the results of a recent survey asking the consultants to provide their top state picks in 12 categories that impact companies’ location and facility plans. The states in each category were ranked based on their number of mentions in the particular category, and total mentions in all 12 categories were calculated to rank the top 20 states overall.
Below is a breakdown of Tennessee’s rank in all 12 of the evaluated categories:
- No. 1 for overall cost of doing business
- No. 5 for corporate tax environment
- Tied for No. 2 with Georgia for business incentive programs
- Tied for No. 5 with Ohio for access to capital and project funding
- No. 3 for competitive labor environment
- No. 6 for leading workforce development programs
- No. 1 for shovel-ready sites program
- No. 1 for cooperative and responsive state government
- No. 5 for favorable general regulatory environment
- No. 1 for favorable utility rates
- Tied for No. 6 with Virginia, Kentucky, and Indiana for most improved economic development policies
- Tied for No. 4 with Mississippi for speed of permitting
