Indiana is once again ranked among the best for its business climate. The state placed eighth on this year’s Top States for Doing Business from Area Development Magazine. Indiana ranked sixth last year. The results come from surveys of professionals in the site consulting industry.
Respondents ranked the top states in 10 categories and the final totals were tallied up to determine the order in those categories. Area Development Magazine then determined the highest-ranked states based on weighted averages.
Indiana was tops among its neighboring states, placing above Ohio at number 11, Kentucky at 14, Michigan at 18 and Illinois not listed among the top 20.
The top 10 in order are:
- South Carolina
- North Carolina
The commentary from Area Development Magazine highlights several positives about Indiana’s business climate, including the declining corporate tax rates, which will is scheduled to eventually bottom-out below five percent, workers compensation premiums that "compare favorably" to other high-ranking states, below-average cost of living and a legislature the author says continues to attempt to build on "already widely recognized as friendly" business regulations. Indiana and Ohio tied for number one in most improved economic development practices.
You can connect to the full rankings and additional commentary from Area Development Magazine by clicking here.
The categories are: overall cost of doing business, corporate tax environment, business incentives programs, access to capital and project funding, competitive labor environment, leading work force development programs, cooperative and responsive state government, favorable regulatory environment, speed of permitting and most improved economic development policies.