Tennessee A Top 10 State For Doing Business
Tennessee's the fourth best state in which to do business, according to the new annual report by Area Development. A "business-friendly climate" is easy to talk about, but much harder to achieve, since it involves a complex mix of interplaying factors, such as the cost of doing business, from real estate to labor; the choices state and local leaders make on taxes and incentives; the quality and availability of the workforce; and the willingness of capital to invest in businesses in the state.
In all of those, Tennessee ranks behind only Georgia—No. 1 again this year—South Carolina and Texas. In the category of overall cost of doing business, Tennessee is No. 3, behind Texas and South Carolina. Area Development created its list by asking site consultants to name their top state picks for categories that impact location and facility decisions. Area then weighted the combined scores to come up with rankings.