Indiana Named Best State in the Midwest for Business

?????????????????????????????????????????A new Chief Executive magazine survey labels Indiana as the best state for business in the Midwest — and the sixth best in the U.S. A release from the Indiana Economic Development Corporation (IEDC) has more:

The magazine’s “Best & Worst States For Business” ranking is based on surveys of more than 500 CEOs. According to Chief Executive, the results of the 11th annual survey show that CEOs favor states with progressive business development programs, low taxes and a quality living environment.

“We’ve worked hard to create a low-cost, pro-growth economic environment here in Indiana,” said Governor Mike Pence. “This ranking confirms what we already know as Hoosiers. With an honestly balanced budget, robust infrastructure and a top-notch workforce, Indiana is a state that works for business.”

As highlighted by Chief Executive, Indiana became the first Midwestern right-to-work state in 2012, a law that was upheld by the Indiana Supreme Court last year. Since its passing, more than 100 companies have indicated to the IEDC that its passage was a factor in their decisions to locate or expand operations in Indiana. Collectively, these projects account for approximately 10,000 projected new jobs and more than $2.3 billion capital investment in the state.

Indiana’s 6th place ranking makes it the only Midwestern state in the publication’s top 10. Among neighboring states, Kentucky ranked 28th, Ohio ranked 22nd, Michigan ranked 43rd and Illinois ranked 49th.

This Chief Executive magazine ranking is the latest in a series of national accolades for Indiana’s business climate. Last year, Indiana was ranked best in the Midwest and 7th overall in Area Development magazine’s “Top States for Doing Business” as well as best in the Midwest and 7th in the nation in the Pollina Corporate “Top 10 Pro-Business States for 2014” study.

Chief Executive magazine is a bi-monthly publication for top management executives published by the Chief Executive Group LLC. Founded in 1977, the Chief Executive Group LLC is headquartered in Greenwich, Connecticut. The full survey results are available online.

Indiana Business Climate on the Rise Again

Improvement for Indiana in another national economic development ranking is nothing new. The latest: a rise from sixth to fifth in Chief Executive magazine’s "Best and Worst States for Business." (Indiana had moved from 16th in 2010 to sixth a year ago).

Below is the key passage from the article detailing the opinions of CEOs from across the country:

North Carolina, Tennessee, Indiana, Virginia, South Carolina, Georgia and Utah held their positions in the top 10, with Indiana moving up a notch to fifth. CEOs indicate that workforce quality is the state’s single greatest strength, and since it became the 23rd right-to-work state last year {actually this year}, the Hoosier State is likely to punch above its weight competitively in the future. “Indiana is like a breath of fresh air,” volunteered one manufacturing CEO. “I have operated on both coasts, the Southeast and Chicago, and Indiana is where I will keep my manufacturing operations.”

It may be no accident that most of the states in the top 20 are also right-to-work states, as labor force flexibility is highly sought after when a business seeks a location. Several economists, most notably Ohio State’s Richard Vedder and Harvard’s Robert Barro, have found that the economies in R-to-W areas grow faster than other states, have higher employment and attract more inward migration.

By my count, the entire top 10 and 17 of the 20 are RTW states. Texas earns No. 1 for the eighth year in a row with California at the opposite end — also for eight consecutive years. Rounding out the top five: Florida, North Carolina and Tennessee. The bottom five has Michigan at No. 46, followed by Massachusetts, Illinois and New York.

Full story; Indiana breakout; Indiana Economic Development Corporation release.

Magazine Ranks Indiana Top Business State in Midwest

In a recent ranking by Chief Executive magazine, Indiana was listed as the 11th best state in the U.S. for business, and the best in the Midwest. Texas topped the list, while New York was last.

And sadly, our neighbors, Ohio, Illinois, and Michigan placed 45th, 46th, and 49th, respectively. So perhaps the term "island of prosperity" might indeed apply to us after all. (Although Kentucky was 23rd.)

Hat tip to Inside Indiana Business.

IEDC: National Media Lauding Indiana’s Business Climate

In a recent web article from the Indiana Economic Development Corporation (IEDC), it seems many national news media and sources are looking at Indiana as a model for how to take care of business, so to speak:

National news broadcaster CNBC listed the Hoosier state as the “Most Improved State for Business” in its 2008 survey of states. Indiana ranked the best in the Midwest and third in the nation for Business Friendliness in the survey, the best in history for the state and far better than the rest of the industrial Midwest.

Forbes magazine also provided Indiana acclaim by rating the state’s business tax climate as the best in the Midwest and sixth lowest cost of doing business nationally in 2008.

Indiana’s low cost of doing business and tax-friendly environment scored accolades from a Chief Executive magazine survey of the nation’s top CEOs. The magazine’s fourth annual “Best & Worst States” survey polled 605 top executives in early 2008 who listed Indiana as the best place in the Midwest for business, scoring an eighth place national finish and edging out neighboring states by more than 15 places on the survey.

To view all of the rankings, read the piece on IEDC’s web site (PDF).