Indiana ranks best in Midwest for business
May 10, 2016
Indiana ranks best in Midwest for business
Indiana ranked first in the Midwest for doing business according to a nationwide magazine.
According to Chief Executive magazine’s “Best & Worst States For Business,” the Hoosier state rose from its No. 6 position last year to the No. 5 business state in the United States.
The ranking is based on surveys of more than 500 CEOs. The results of the 12th annual survey show that CEOs favor states with friendly tax and regulatory climates, quality workforces and strong living environments, which includes cost of living, education and state and local attitudes towards business, the Indiana Economic Development Corp. said in a statement.
“Indiana is a state that works for business because of our world-class economic climate and talented, dedicated workforce,” Gov. Mike Pence said in the statement. “This ranking confirms what we in the Hoosier state already know to be true – that Indiana holds the line on spending, maintains strong reserves and keeps the cost of doing business affordable through record tax cuts.”
According to the magazine, Indiana’s tax and regulatory policy ranks in the top 10 in the nation, while the state’s workforce quality ranks in the top five. Indiana’s corporate tax rate fell by a half percentage point for the fourth straight year, from 7 percent to 6.5 percent, the IEDC said. It will reach 4.9 percent by 2021. The ranking also recognizes Indiana’s status as a right-to-work state.
Among neighboring states, Ohio ranked No. 10, Kentucky ranked No. 24, Michigan ranked No. 40 and Illinois ranked No. 48.
Chief Executive magazine is a bi-monthly publication published by the Chief Executive Group LLC. Founded in 1977, the Chief Executive Group LLC is headquartered in Greenwich, Conn.
