Statement issued Tuesday:
Site Selection magazine has named Texas the state with the Top Business Climate for 2011. As revealed in the November 2011 issue of the magazine, research based in part on a survey of corporate real estate executives has identified the Lone Star State's overall climate for capital investment to be tops in the United States, replacing North Carolina, which held the top slot for nine of the last 10 years. Georgia placed second this year, followed by North Carolina, Virginia and South Carolina.
Corporate site location executives responding to the survey characterize Texas' business climate as "pro-business and entrepreneurial" and "progressive with fewer regulations." Some give high marks to the state's tax climate, work force, supply of land and facilities, incentives programs and worker-training resources. Others pointed to Texas' "willingness to work with business" and "to fight OSHA, EPA and other useless regulations."
Governor Rick Perry says his state's reputation as being on the side of business is well deserved, as the legislature's passage in 2011 of a tort-reform measure that includes a loser pays provision illustrates. The goal is to discourage frivolous lawsuits and give businesses more certainty with respect to their capital investment. "That is a huge win for the business environment," Gov. Perry told Site Selection in mid-October. "It's about confidence you can risk your capital and know that you'll have a chance to have a return on that investment. A fair and efficient legal system is a very important consideration when manufacturers look for locations in which to invest."
The annual business climate rankings are determined 50 percent by a tax climate criterion and the states' performance in Conway Data's New Plant Database, which tracks new and expanded business facility activity, and 50 percent by the survey of corporate site selectors. The survey asked, "Based upon your experience, what are the top 10 state business climates, taking into consideration such factors as lack of red tape, financial assistance and government officials' cooperation?" By this measure Texas ranked first, followed by North Carolina, Georgia, Florida, Tennessee and Virginia.
"When states demonstrate – not just talk about – their commitment to helping businesses grow, capital investors notice," says Site Selection Editor in Chief Mark Arend. "Many reward those states with new facilities and jobs, which clearly has been the case in Texas. We commend Gov. Perry and his state economic development team, as well as the many local development professionals, for their focus on making Texas a winning location for business."
Site Selection magazine, published by Conway Data Inc., delivers expansion planning information to 44,000 executives of fast-growing firms. The senior publication in the development field, Site Selection is also available via Site Selection Online (www.siteselection.com). SiteNet Dispatch, a weekly e-mail newsletter, goes to more than 41,000 industry professionals.
Conway Data is an international publishing and association management company headquartered in Atlanta. The firm manages the Industrial Asset Management Council, the Development Hall of Fame and the World Development Federation (WDF), offers consulting services and awards the annual Conway Safe Skies Award.
TOP TEN STATE BUSINESS CLIMATES 2011
3. North Carolina
5. South Carolina
EXECUTIVE SURVEY BUSINESS CLIMATE RANKINGS 2011
2. North Carolina
7. South Carolina