Tennessee has sixth-best business climate, survey says

Enlarge Photo

Thinkstock

Scott Harrison

Staff Reporter- Nashville Business Journal

Email  |  Twitter

Tennessee is the sixth-best state for business, with Nashville ranking among the top cities for economic development, according to a new survey of corporate executives and site selectors ranking the states with the most favorable business climates.

This is the third straight time Tennessee has appeared near the top of Development Counsellors International's "Winning Strategies in Economic Development Marketing" survey.

The survey, published every three years since 1996, tracks trends in economic development. New York-based DCI specializes in economic development and tourism marketing.

Tennessee dropped from fourth place in a 2011 survey, when 14 percent of respondents named Tennessee as having the most favorable business climate. Of the 356 respondents this year, 11.6 percent said Tennessee had the best business environment.

Texas topped the list for the sixth time in a row. Nearly 50 percent said Texas has the most favorable business climate. Florida ranks a distant second, with 18.1 percent, and Georgia and North Carolina tied for third with 17.6 percent each. South Carolina received 12.6 percent, followed by Tennessee.

DCI found overall tax climate, pro-business environment and incentives to be key factors for the states topping the list.

Site selection consultants participating in the survey ranked the Nashville Area Chamber of Commerce the No. 5 "best in class" regional economic development organization, tied with the Greater Houston Partnership.

In January, Business Facilities, an influential trade publication for corporate site selectors, named Tennessee the 2013 'State of the Year'.

Sign up for free email newsletters delivering exclusive news scoops and local business intelligence from the Memphis Business Journal.

Scott Harrison covers government and economic development, banking and law.