Florida Ranks #2 for ‘Best States to Do Business’ in 2013
By Matt O'Hern // May 8, 2013
High Rankings in Multiple Categories
BREVARD COUNTY, FLORIDA — A survey of 700 business executives revealed several encouraging economic signs for Florida. For the second-consecutive year, Chief Executive Magazine ranked Florida #2 among the “Best State to Do Business” in the United States.
Two factors which helped Florida preserve its high ranking were the influx of new residents, as well as a competitively-low state and local tax burden. In the category of Domestic Net Migration, Florida ranked second overall, with 118,756 new residents. Florida’s state and local tax burden of 7% is 2.89% lower than the national average.
Florida received four out of five stars for:
- Taxation & Regulations (4 out of 5 stars)
- Workforce Quality (3 1/2 out of 5 stars)
- Living Environment (4 out of 5 stars)
The encouraging news regarding Florida’s business climate comes only a few months after Governor Rick Scott announced an increase in tourism. Texas was rated the top state for business, while Illinois, New York and California were rated the three worst states for business, respectively.