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Mon, Sep 22, 2014

Tennessee ranked in Top 5 for business

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The editors of Site Selection magazine, one of the nation’s premier economic development publications, have ranked Tennessee among the five best states in the U.S. for best business climates.

The announcement marks the seventh time in the past decade Tennessee has been listed among the top ten states for business climate. The state has been ranked among the top five states in five of the past seven years. The closely watched annual rankings appear in the November 2009 issue.

“I am pleased Tennessee is listed once again among the top five business climates in the country. This is a very competitive ranking by a very well-respected publication,” said Commissioner Matt Kisber of the Department of Economic and Community Development. “We’ve worked hard to maintain our reputation as a state that is business-friendly by viewing job creation as a partnership between the state and local communities and designing projects according to a prospective company's individual needs.”

The annual business climate rankings are determined by the number of new and expanded business facility projects in each state as well as perceptions in a survey of corporate site selectors across the country. Site selectors were asked to rank the factors most important to them when determining a location for a new facility. Some of those factors included transportation infrastructure, existing work force skills, and state and local taxes. In the site selector “executive survey” portion of the rankings, Tennessee also ranked 5th.

“It is gratifying that publications like Site Selection are recognizing Governor Bredesen's Jobs Cabinet approach to economic development and the more than 170,000 new jobs and $27 billion in new capital that have resulted from it," said Commissioner Kisber.

The Site Selection accolade is one of many that Tennessee has collected this year for its economic development efforts. Southern Business & Development magazine named Tennessee a co-state of the year and Governor Phil Bredesen, Commissioner Kisber and Revenue Commissioner Reagan Farr were named to the publication’s Ten People Who Made a difference list. Tennessee also won Area Development magazine’s prestigious Gold Shovel Award, which is presented annually to the state achieving the most success in terms of job creation and economic impact.

To read more about Site Selections annual business climate rankings, please visit www.siteselection.com.
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