TN rated 10th worst state in nation for business

While other groups have ranked Tennessee high as business-friendly, the website 24/7 Wall Street has done some number-crunching that resulted in rating the state as the 10th worst in the nation for business.

Overview national story HERE. The Tennessee portion excerpted (well, big chuck of it, full thing HERE):

10. Tennessee
> Real GDP growth, 2012-2013: 0.8% (7th lowest)
> Average wages and salaries, 2013: $43,516 (20th lowest)
> Pct. of adults with bachelor’s degree, 2013: 24.8% (10th lowest)
> Patents issued to residents, 2013: 1,003 (25th lowest)
> Projected working-age population growth, 2010-2020: 6.3% (25th lowest)

Tennessee is the 10th worst state for business. Of the eight categories used to assess state business climates, Tennessee fared the worst in the labor and human capital category. On the other hand, with relatively low wages and a low cost of living, the costs to Tennessee businesses and residents were low compared to other states. This was not enough to offset the poor conditions for business overall.

In particular, residents were relatively poorly educated. While nearly 30% of American adults had at least a bachelor’s degree as of 2013, less than one-quarter of Tennessee adults had at least such a degree, one of the lowest proportions. A high quality of life can help raise productivity among workers and attract visitors and prospective employees to the state — all good for business. But Tennessee had a violent crime rate of nearly 580 crimes per 100,000 people, nearly the highest rate in the nation and a drag on the state’s quality of life metrics. The state’s economy was also in bad shape. Tennessee’s economy grew by 0.8% in 2013, less than half the national growth rate and one of the lowest figures reviewed.