Tennessee has eighth best business climate

Tennessee has the eighth best business climate in the country, according to Site Selection magazine’s 2012 rankings of the most business-friendly states.

That’s unchanged from a year ago. In 2010, Tennessee ranked second on the magazine’s rating.

North Carolina captured the top spot on this year’s rankings, which were released today.

The annual Top Business Climate rankings are based on tax burden criteria, new and expanded business activity and a survey of corporate site selectors.

Tennessee did best in the survey of site selectors, ranking fourth, trailing only Texas, North Carolina and Virginia.

The survey asked: Based upon your experience, what are the top 10 state business climates, taking into consideration such factors as lack of red tape, financial assistance and government officials’ cooperation?”

The issues most important to site selectors, according to the magazine, include state and local taxes, transportation and utility infrastructure, land/ building and supply, work force skills, local economic development strategy, legal climate, availability of incentives and state economic development strategy.

Site Selection magazine provides expansion planning information to corporate executive and site selection consultants.

Click here for the full Site Selection report.