Sage Mill East

2016 Top States for Doing Business:

Georgia Back in Top Spot Again

Steve Stackhouse-Kaelble

What’s it take to be recognized as a top state for doing business? On one hand, it’s a complicated question to answer, because there are a lot of factors that go into that kind of a reputation. On the other hand, you can get a pretty good idea of what it takes by checking out the attributes of some of the states that top the list.

The overall cost of doing business is, of course, a primary consideration, one that encompasses a wide range of components, from real estate costs to utility rates to labor expenses. The environment created by state and local leaders plays a big role, too — the choices they make on tax structures and business incentives can tip the scales on cost, and they also can impact the no-hassle factor driven by their overall responsiveness, their regulatory practices, and how fast they respond to permitting requests. And the kinds of workforce programs states establish make a tremendous difference in both labor-related costs and hiring challenges. A location or facility project won’t get far without adequate capital, either, and that’s a factor that can vary quite a bit from one place to another.

Site consultants have an insider’s view into all of these factors — and an unbiased perspective, too. That’s why Area Development’s Top States for Doing Business analysis solicits the views of in-the-know consultants. For 2016, we surveyed consultants and asked them to name their top state picks in each of 10 categories that impact location and facility decisions. They shared their top picks in each category, and we weighted those scores to come up with rankings within each factor, along with overall rankings that take all of the factors into account.

There’s a familiar face atop the overall rankings — Georgia is back again in the #1 spot for the third year in a row. The Peach State rode to the top by ranking in the top six spots on each of the factors in the survey — including #1 picks for cooperative and responsive state government as well as workforce development programs, and #2 for competitive labor environment, regulatory environment, and speed of permitting. An integrated and statewide approach to economic development puts everything from workforce to global commerce to innovation promotion to film industry support under one umbrella — and virtually every county is regularly touched by state economic development support in one way or another.

It goes without saying that you can’t stay ahead in the competitive business of economic development if you’re not constantly moving forward, and Georgia hopes to hang onto its lead in workforce development with its brand-new WorkSource Georgia initiative. It’s a unified, statewide approach for helping employers and qualified job-seekers find each other, and for spotlighting training and educational opportunities.

South Carolina ranks second, on the strength of its incentives, business-friendly government and permitting processes, and overall cost of doing business. The tax environment gets high marks, and no wonder — the corporate income tax rate is 5 percent, and there are no state property taxes, inventory taxes, local income taxes, taxes on manufacturing equipment or materials for finished products, nor wholesale taxes.

Texas usually ranks highly on this list, and this year it’s third overall. It’s #1 in multiple factors, including access to capital, competitive labor environment, and favorable regulatory environment. There’s neither a corporate nor individual income tax in Texas, and the Tax Foundation’s latest State Business Tax Index ha0s Texas in the top 10. Its labor environment gets a boost from a full three dozen public universities and 50 community college districts, along with a Skills Development Fund that awards millions of dollars annually to upgrade worker skills.

2016 Top States for Doing Business: Georgia Back in Top Spot Again – Area Development

Source: http://www.areadevelopment.com/Top-States-for-Doing-Business/q3-2016/survey-results-top-states-analysis-676777.shtml

Top States for Doing Business 2013: Site Consultant Survey Results

For the last two years, South Carolina has topped the list for attracting investments from foreign companies, and Aiken County is certainly part of that equation.

 According to a press release, IBM-Plant Location International released its annual Global Location Trends report, which ranks South Carolina as first in the nation for per-capita employment by foreign-owned firms in 2012. More than 1,200 operations of foreign-owned companies are in the state, and they employ 100,000 South Carolinians, the release reads.

Economic Development Partnership Director Will Williams noted that the Aiken County economy includes Japanese, German, Finnish and United Kingdom investments.

For example, Bridgestone Tire Company was founded by Shojiro Ishibashi in Japan, according to the corporate website. Bridgestone has a plant in Graniteville that’s continuing to grow and create hundreds of new jobs in the Aiken Area.

In fact, Bridgestone announced the single largest capital investment in South Carolina history to date in 2011 in Aiken County. This expansion project represents a $1.2 billion investment and is estimated to create more than 850 jobs.

Tognum, headquartered in Germany, is another example of a foreign company that’s located in Aiken County and one that continues to grow. Tognum produces off-highway engines in a variety of industries, including mining, commercial marine, rail and industrial.

In 2010, Tognum announced a $45 million investment to this area and the creation of 250 new jobs. Tognum later unveiled a new $40 million facility in Sage Mill in April and created 20 new jobs. In August, it announced a $22.5 million expansion and the creation of 10 new jobs.

“Aiken County recognizes and appreciates the global diversity of companies that make up our industrial community,” Williams said. “Our close proximity to the Port of Charleston via road or rail and having 75 percent of the U.S. population less than a 12-hour drive away are some of our selling points for future foreign-direct investment.”

Amy Banton is the County reporter for the Aiken Standard. .and has been with the publication since May 2010. She is a native of Rustburg, Va. and a graduate of Randolph-Macon Woman’s College.
http://www.aikenstandard.com/article/20131224/AIK0101/131229713/1002/AIK01/south-carolina-tops-foreign-investors-list