Business and Economy NewsTracker

TN No. 4 in Biz Climate Survey

Tennessee held steady at #4 in a ranking of the states for their business climate by Chief Executive magazine, which conducts the annual survey of business leaders.

Texas, Florida and North Carolina bested the Volunteer State.

The magazine singled out this comment from a respondent: “Recently moved from New York state to Tennessee. Differences in ambience/climate/cost of living/attitude of government towards business are outstanding!”

Tennessee got high marks in the categories surveyed: taxation and regulation, workforce quality and living environment. The magazine also provided state snapshots on migration, tax burden, unemployment and other indicators.

Chief Executive sees a correlation between people’s choices about where they live and the rankings, noting that dead-last California lost almost 1.5 million people in the 10 years to 2009, while #1 Texas gained more than 800,000 in the same time frame. Tennessee gained almost 260,000.

The magazine suggests labor laws also play a role: “It may be no accident that most of the states in the top 20 (including Tennessee) are also right-to-work states, as labor force flexibility is highly sought after when a business seeks a location.”

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