When measuring North Carolina’s attractiveness to businesses, the quality of life for executive officers- including workforce, transportation, infrastructure, utility rates, costs of living, and education matter in deciding where to locate a business. North Carolina’s Small Business Commissioner Scott Daugherty has recently compiled a listing of state business climate rankings and compared the criteria to determine what specific elements contribute to North Carolina’s excellent results.
Specific Criteria Supporting North Carolina’s Positive Rankings:
- High Return on Investment for Government Expenditures Benefitting Businesses
- Moderate Business Costs
- Low Percentage of Business Taxes to Gross State Product
- Outstanding Executive-level Perceptions
- Excellent Workforce
- Good Quality of Life
- Access to Capital
- Moderate Regulatory Environment
- Strong Technology and Innovation
- Excellent Transportation and Infrastructure
- Low State and Local Property Tax
- Unemployment Insurance Tax
And the good rankings:
- #1 2009 Best Business Climate (Site Selection Magazine)
- #1 2010 Lowest State & Local Tax Burden on Business (Council on State Taxation and Ernst & Young)
- #2 2009 Best States for Business (CEO Magazine)
- #2 Most Favorable Business Climate, ’08 (Development Counselors International)
- #3 2009 Pro-Business State (Polina Corporate Real Estate)
- #5 The Best State for Business, ’09 (Forbes)
- #9 America’s Top State for Business, ’09 (CNBC)
- #12 2009 Boardroom Guide to the Best states for Business (Directorship Magazine)