North Carolina Tops Texas in Business Climate Study (Site Selection Mag)

November 1, 2012 – North Carolina’s combination of work-force availability and skill sets of interest to employers, proactive business-development agencies, logistics assets and higher education infrastructure helped it reclaim Site Selection’s Top Business Climate spot from rival Texas — which wrestled the title from the Tar Heel State in 2011. Texas drops slightly to third place, behind Ohio’s second-place finish — up from ninth place last year. Ohio also won the Governor’s Cup this year, with the most new projects announced of any state in 2011, according to Site Selection analysis. Georgia and Virginia round out the top five. This year’s ranking confirms the South’s status as the region to beat, with nine of the top 10 states based there. The publication’s ranking is based 50 percent on a survey of corporate site selectors — who named Texas their No. 1 choice, followed by North Carolina — and 50 percent on five criteria, three that require states to demonstrate a strong record of attracting capital investment: the state’s placement in Site Selection’s most recent Governor’s Cup ranking of qualified projects the previous calendar year; its Competitiveness Ranking, published the previous May; and its projects logged into the magazine’s New Plant Database year to date. (Qualified projects meet one or more of these criteria: a minimum investment of US$1 million, 50 or more new jobs or new space of 20,000 sq. ft. or more.) The other two criteria are the Tax Foundation and KPMG’s Location Matters analysis of state tax burdens on mature firms and on new firms. North Carolina performed strongly in all categories, garnering enough points to claim the top spot for the 10th time in 12 years.

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