FedEx, Volkswagen and Nissan have helped make Tennessee one of the top destination states for jobs, CNBC reports.
Tennessee ranks No. 7 with 141,845 people moving here for work during 2009-2010.
“Tennessee was one of only 15 states whose unemployment rate went down in 2009-2010. Of the 141,845 people who came into the state that year, many came from Florida, Georgia and Mississippi, all of whose unemployment rates had increased,” CNBC says.
CNBC on Tuesday will reveal the results of its sixth annual look at “America’s Top States for Business.”
New this year is a Twitter Battle — featuring short videos from the states’ governors. All 50 guvs were invited to submit videos detailing what makes their state the best for business.
In less than two minutes Gov. Bill Haslam makes the case for Tennessee. He mentions, among other things, the state’s growing automobile manufacturing sector and a wide variety of consumer products made in Tennessee — M&Ms, solar panels, chemicals, Jack Daniels and more.
Haslam makes sure to note that Tennessee has “one of the lowest state tax burdens in the country.”
Photo: In this May 5, 2012, photo, Warren Buffett, chairman and CEO of Berkshire Hathaway smiles on the exhibit floor where Berkshire products aer showcased, prior to the annual shareholders meeting in Omaha, Neb. (AP photo/ Nati Harnik)
Despite what we hear from the far right, the U.S. economy is not circling the drain.
Dallas Federal Reserve President Richard Fisher made that clear in an interview with CNBC today. Fisher said that CEOs around the country tell him that they feel better about the economy.
” …The tone is a lot better. It’s not brilliant; we don’t have enough new hiring taking place, (but we’re) definitely moving in the right direction. … Things are better than the numbers might suggest or at least moving in the right direction,” Fisher said.
Fisher noted that exports and manufacturing are picking up and that the American private sector is “the most efficient in the world. They have cut costs to the bone. They are hyperproductive. They are still sitting on a pile of cash. I’m not sure all that cash has been put to work. We know there is a lot of cash on the sidelines.”
After listening to the drumbeat of doom that is the Republican presidential primary, it’s refreshing to hear a voice of reason.
In case you missed it, President Obama’s campaign to raise tax rates on the rich gained an interesting ally a few days ago – Ben Stein.
In an interview on CNN, the economist/ actor said he rarely agrees with the president’s policies, but raising taxes on millionaires is “totally fair and abosolutely necessary” to save the economy. In his State of the Union speech last week, Obama said millionaires should pay at least a 30 percent rate.
It’s fantasy to believe that the economy will fully recover without raising takes on the uber rich, Stein said.
Tennessee is the 18th best state for business in 2011, according to CNBC’s annual rankings. That’s down two spots from the 2010 list.
Virginia captured the top spot for the second straight year.
CNBC’s study considers 10 categories: Cost of Doing Business, Workforce, Quality of Life, Economy, Transportation & Infrastructure, Technology & Innovation, Education, Business Friendliness, Access to Capital and Cost of Living.
In case you missed it, FedEx Corp. CEO Fred Smith had some interesting comments about the benefits of electric vehicles in an interview on CNBC on Monday.
Smith’s company has added electric vehicles to its fleet and Smith is a member of the Electrification Coalition, a nonpartisan group of business execs who support wide spread use of electric vehicles as means to “combat the economic, environmental, and national security dangers caused by our nations dependence on petroleum,” according to information on its website.
The coalition on Monday called for U.S. tax credits to help pay for corporate investment in electric vehicles.
Smith also shared with CNBC his thoughts on the economy and other issues.