Site Selection magazine released a new ranking for 2015, listing the top 25 states for business climate based on various financial data. The ranking comes from a combination of corporate site selector data and an index of various business statistics and criteria. According to the list, Ohio placed fifth overall, ahead of Illinois, Texas and Florida and totaling 573 points.
Some of the different categories each state was ranked on include competitiveness and mature firm tax index. Ohio ranked in the top 10 for new plants between January and August and placed second for New Plant per capita for 2014, behind only Kentucky.
The factors that influence a successful state for business sites can include the strength of the local workforce as well as tax reform as it applies to businesses. Governor Nathan Deal of the number one state in the ranking, Georgia, cited both of these as major influences on its placement, with strong education systems and solid tax policies playing a role in appealing to outside investors.
The same source has previously awarded Ohio for other successes in business, including Cincinnati’s role as one of the top cities for chemicals and plastics competitiveness in the nation. This city also placed highly on the list of food and beverage industry competitiveness, alongside Dallas, Louisville and Atlanta.
Acknowledging this, business owners within the state can prepare to move to a new site by obtaining the appropriate funds through adequate business development consulting. For help understanding new construction loans and other sources of revenue, businesses can turn to Growth Capital Corporation for the necessary help.