Business Facilities - July 2008 - (Page 20)

O BUSINESS CLIMATE sion, it seems at the very least prudent to take a hard look at why the state is doing so well even as other states bounce around our rankings. As was the case last year, the Rocky Mountain States again had strong representation in the top tier of the rankings in this category, joined by Texas, which bounced up to number two from last year’s 9th place finish. Three states pushed their way into the top 10 business climates from 2007 to 2008. Number nine this year—Florida—made a modest but notable climb from 13th place last year. More dramatic perhaps was 8th place Oklahoma rocketing from 21st place in 2007, and 10th place Arkansas rising from 19th place last year. With Florida and Arkansas joining the top 10 next to number 6 Virginia (which was 8th in 2007), the Southeast region has staked its claim clearly on our Business Climate scoreboard. The 2008 Business Climate ranking was calculated using the same factors and weightings as last year, with the only difference being that we used data updated by a year, so the results are directly comparable to 2007. (It should be noted, however, that there were some minor changes in the calculation of the Educated Workforce and Educational Environment rankings which constituted part of the final Business Climate ranking.) It will be very interesting to see how the general downturn in the national economy this year shakes up our Business Climate ranking in future years as economic data from 2008 is tabulated. Mt. Rushmore, South Dakota ur Business Climate ranking unofficially is our flagship ranking, because of its 18 input factors that determine the final outcome, three of which are themselves other Business Facilities rankings. The 2008 Cost of Labor ranking is an important component; it is composed of six factors. The 2008 Educated Workforce ranking (composed of three weighted input factors) is another key component of our Business Climate ranking. Finally, the 2008 Quality of Life ranking counts for something in the overall Business Climate ranking as well; Quality of Life is made up of a whopping 20 factors (one of which is our seven-factor Educational Environment ranking). That means that exactly 50 distinct factors we researched find their way into this 2008 Business Facilities Business Climate ranking. Besides the three rankings used as as factors, we also specifically looked at data including projected population change, change in per capita gross domestic product (GDP), business tax climate, quality of road infrastructure, and average bills for gas, electricity and rent for industrial and commercial customers. The big winner—not just in this ranking but throughout several of our rankings this year—was South Dakota. Not intent to take 2nd place again, it hopped up to first to complete its dominance of Cost of Labor, Quality of Life, and Business Climate. Whatever you may think of the suitability of South Dakota for your upcoming relocation or expanJULY 2008 Top 10 States for Business Climate 1. SOUTH DAKOTA 2. TEXAS 3. UTAH 4. COLORADO 5. WYOMING 6. VIRGINIA 7. MONTANA 8. OKLAHOMA 9. FLORIDA 10. ARKANSAS PHOTO CREDIT: STOCKXCHANGE 20

Table of Contents Feed for the Digital Edition of Business Facilities - July 2008

Business Facilities - July 2008 Contents First Word Snapshots Corporate Moves: New York The 2008 Business Facilities Rankings Report 2008 Rankings: Biotech Blasts Off 2008 Rankings: Green with Envy 2008 Rankings: Warm Climate for Business Nanotech Looms Large in Pennsylvania Metro Spotlight: Inland Empire, CA Food Processing Sites: Providing Sustenance as Well as Nutrition Sale-Leasebacks: Easing the Credit Crunch Corporate Moves: Georgia Metro Spotlight: Albuquerque, NM Advertiser Index Inside LiveXchange

Business Facilities - July 2008

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