Texas is No. 1, again, as the state with the best business climate, according to a new survey of U.S. corporate executives released today at the International Economic Development Council (IEDC) Annual Conference in Toronto. Florida is the runner up, followed by Georgia, South Carolina and North Carolina.
Texas, which has consistently held the No. 1 ranking since 1999, was again a favorite among survey respondents, with 42 percent naming the state as having one of the most favorable business climates. The Lone Star State was also rated as having one of the top five state economic development organizations.
Conducted by Development Counsellors International (DCI) every three years, the “Winning Strategies in Economic Development Marketing” survey has tracked trends in economic development since its inception in 1996. For the first time, the survey also includes findings about how the current political climate affects business perceptions. A majority of the executives surveyed, 57 percent, reported that the Trump presidency has not impacted their investment plans and 33 percent were more likely to explore domestic expansion.
“The Winning Strategies survey provides insights into the minds of key decision makers—from their perceptions on locations around the world to how they get the information that shapes those perceptions,” said DCI President Andrew T. Levine. “As the competition for business expansions and talent intensifies, this information can be crucial to communities looking to set themselves apart from other locations.”
Key findings from the 2017 “Winning Strategies” survey, which is based on the aggregate responses of 331 corporate executives with site selection responsibilities, include:
• In addition to Texas, rounding out the top 5 states for business are Florida at No. 2 with 22 percent, followed by Georgia at No. 3 with 20 percent, South Carolina at No. 4 with 16 percent and North Carolina at No. 5 with 15 percent.
• When asked which international countries they were most likely to explore for investment, 31 percent of U.S. executives named China as their top choice, followed by the United Kingdom (22 percent) and Canada (21 percent). Germany and Mexico ranked fourth and fifth, respectively.
• 50.3 percent of executives report that their company will make a location decision (move, expansion or consolidation) in the next 24 months. This is a 6 percent increase from 2014 results.
• 54 percent of the survey audience report that they plan to outsource a portion of the site selection process during their next site selection search, a significant increase from 2014 (40 percent).
Best States for Business:
1. Texas 42%
2. Florida 22%
3. Georgia 20%
4. South Carolina 16%
5. North Carolina 15%
Best Countries for International Investment Opportunities:
1. China 31%
2. United Kingdom 22%
3. Canada 21%
4. Germany 16%
5. Mexico 15%