NASHVILLE, Tenn., April 24,
2024 /PRNewswire/ -- CEOs surveyed for Chief
Executive magazine's annual list of the Best and Worst States
for Business once again ranked Indiana as the top-ranked Midwestern state and
the sixth-best state for business overall, maintaining its elite
position on the list from last year. The rankings, released in the
Spring issue of Chief Executive, reflect Indiana's ongoing efforts to create a
welcoming environment for businesses of all sizes and
industries.
The ranking is based on a survey of more than 500 CEOs across
the country who were asked to rate states based on their opinion of
how easy it was to do business in that state versus others.
Indiana's high ranking is thanks
to favorable tax conditions, solid infrastructure and favorable
quality of life.
"This ranking is a testament to Indiana's commitment to fostering a
business-friendly environment that encourages growth and
innovation," said Chris Chalk,
Publisher, Chief Executive magazine. "From its skilled
workforce to its strategic location and pro-business policies,
Indiana offers everything
businesses need to succeed."
The Hoosier State is building upon solid foundation, with the
sixth consecutive record-breaking year for economic development.
The growth is due in part to several notable groundbreakings and
expansions in the past year. Eli Lilly announced in April 2023 a $1.6
billion investment in two manufacturing sites and 200 new
jobs in Boone County, while GM and
Samsung SDI announced in June 2023 a
$3 billion EV battery factory and
1,700 new jobs in New
Carlisle.
Conco announced in August 2023 a
$50 million investment in operations
in southern Indiana, which will
create up to 175 high-wage jobs by the end of 2026. "When looking
at locations, the former Tokusen USA space was a perfect fit for what we needed
to expand," Karen Paschal, CEO of
Conco told Chief Executive. "We look forward to working with
the State of Indiana, the
City of Scottsburg, and its
residents to create additional growth for the region."
Here's what some of the CEOs we surveyed had to say about why
they ranked Indiana so highly:
"In all four states the lower tax rates and friendly business
environment from the state governments are the key factors.
Specifically, to Indiana I would add the strong workforce that has
a good work ethic."
"Indiana has the greatest
Economic Development group in the Nation and is very pro-business.
Aggressive in recruitment. Indiana
is sound financially and has a surplus of funds, a rarity!"
"Indiana has been a dream to
work with during our relocation from MA. The local and state
incentives and support have been second to none."
"Indiana has opened up the
opportunities for companies of all sizes to grow. The business
climate is helpful with complicated issues. The IEDC is very
proactive in attracting business."
The Top 5 States for 2024:
- Texas
- Florida
- Tennessee
- Arizona
- North Carolina
The Bottom 5 States for 2024:
46. Washington
47. New Jersey
48. Illinois
49. New York
50. California
Biggest Gain, 2023-24:
North
Dakota, + 13 to 16th place
Biggest Loss, 2023-24:
Colorado, - 16 to 29th place
Enhanced Coverage online:
https://chiefexecutive.net/best-worst-states-business/
About Chief Executive Group
Chief Executive Group exists to improve the performance of U.S.
CEOs, CFOs, CIOs, CHROs and corporate directors. We publish Chief
Executive magazine, ChiefExecutive.net, Corporate Board Member
magazine, BoardMember.com, StrategicCFO360.com, StrategicCIO360.com
and StrategicCHRO360.com, and run some of the nation's most
essential peer-networking communities, including The CFO Leadership
Council, Chief and Senior Executive Networks, Corporate Board
Member Network and The American College of Corporate Directors.
For media inquiries, please contact:
Dan Bigman, Editor, Chief Executive,
203-889-4980, 376636@email4pr.com
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SOURCE Chief Executive Group