Indiana Ranks High For Small Business Policy Climate
By Alex Brown | Inside INdiana Business
The Virginia-based Small Business & Entrepreneurship Council has listed Indiana favorably in its "Small Business Policy Index 2017." The index ranks each state's policy climate for small business and entrepreneurship based on criteria including taxes, regulation and government spending.
Indiana ranks seventh on the list as an entrepreneur-friendly state, up from tenth in 2016. The SBE Council cites Indiana's "fairly low" personal income, individual capital gains, property and unemployment taxes as key positives for the ranking. However, the index says Indiana's "fairly high" consumption-based taxes and a high diesel tax are key negatives for the state.
"Also, the state has no death tax, the second lowest workers’ compensation cost burden, a fairly low level of state and local government employment, and a low level of state and local government spending," the index said. "Indiana is a right-to-work state, has no added minimum wage mandate, and ranks best among the states in terms of productive education reforms"
The index also examines topics such as economic growth, population growth and net domestic migration. Nevada tops the list, followed by Texas, South Dakota, Wyoming, Florida and Washington.
You can read the full "Small Business Policy Index 2017" by clicking here.