2017 Top States for Doing Business: South Carolina Ranks 2nd
Bringing in business is a top priority for every state. New corporate locations and expansions create jobs and expand and diversify the tax base. Even though most would agree we have largely recovered from the Great Recession, the memories of that brutal downturn are still painfully sharp and linger — and still impact decision-making by corporate leadership. Today companies pay more attention to how states held on to and supported business during the Great Recession; in turn, states are more motivated to do all they can to attract, diversify, and support new business and stand out from competing states.
The economic development playing field is more competitive than ever. Standard incentives just don’t cut it anymore — it is a buyer’s market, and companies aren’t shy about telling states what they want, and how they expect to be treated. They are also fully prepared to shop around, even if it lengthens the decision-making process.
States are offering more than they used to — incentive packages rich with discounts and credits and tax breaks, free land and infrastructure, faster permitting, energy discounts, shovel-ready sites, creative funding options, workforce training, etc. And although the incentives package still matters, what companies really want (and what might even tip the balance) is a state that is a willing and proactive partner. A state that will take the time to understand each company’s unique set of needs, and go above and beyond to deliver solutions (and even innovate). Many companies aren’t thinking short-term, either — they want a long-term partner that will help them negotiate the future, whatever it might bring.
TOP STATES FOR DOING BUSINESS 2017
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