Tennessee ranks high in magazine’s survey
Posted: Monday, May 10, 2010 12:52 pm
The Messenger 05.10.10
NASHVILLE — Chief Executive magazine has named Tennessee one of the top three states in the nation for business today in its sixth annual survey of Best and Worst States for Business.
More than 650 chief executive officers rated states in three general categories: taxation and regulation, workforce quality and living environment.
Tennessee moved up two spots from fifth in 2009. Rounding out the top five were Texas, North Carolina, Virginia and Nevada.
“It is an honor to be named to Chief Executive magazine’s Best States for Business survey, since we’ve worked hard to create a business-friendly climate in Tennessee,” Gov. Phil Bredesen said. “We remain committed to growing our state’s economy and providing the best possible education and training for our workforce.”
In addition to grading states on taxation, workforce and living environment, business leaders also ranked each category in terms of its importance to the respondent and how individual states measure up. The CEOs’ most highly valued attributes included employee work ethic, lower tax rates, perceived attitudes toward business and living environment considerations such as real estate costs and education.
“Under Governor Bredesen’s leadership, Tennessee has developed an incredible reputation as a business-friendly state,” said Matt Kisber, commissioner of the Tennessee Department of Economic and Community Development. “His experience as a former CEO has given new insight into the way we conduct business with companies interested in locating or expanding in Tennessee.”
The Chief Executive magazine honor is the latest in a number of awards Tennessee has received for its economic development efforts recently.
In March, Trade & Industry Development magazine named Wacker Chemie and the Tennessee Department of Economic and Community Development among the winners of its 2010 Corporate Investment & Community Impact (CiCi) Awards
Tennessee also received top five honors in Site Selection magazine’s Governor’s Cup for economic development and was ranked among the top five states in the U.S. for best business climates, while Business Facilities and Southern Business & Development magazines honored Tennessee as their State of the Year.
Tennessee also won Area Development magazine’s prestigious Gold Shovel Award, which is presented annually to the state achieving the most success in terms of job creation and economic impact.