For the second year in a row, Georgia topped the list of Site Selection’s annual ranking of state business climates. Louisiana also made huge strides, placing second on list, up from sixth place a year ago. The top five was rounded out by North Carolina, Texas and Ohio.
In an interview with Site Selection, Gov. Nathan Deal of Georgia specifically mentioned the Georgia Quick Start Program, which trains workers at no cost to the company. Georgia also provides other incentives for businesses looking to hire or train new workers, including a Mega Project Tax Creditfor companies that create at least 1,800 jobs and either invest a minimum of $450 million or have a minimum annual payroll of $150 million. The credit is equal to $5,250 per job.
Georgia also ranked second in business climate, behind Texas, in a survey of corporate site selectors, which accounted for 50 percent of the overall rankings. The survey also measured the most important criteria for locations. The most important criteria was transportation infrastructure. In addition, the state and local tax scheme ranked sixth in criteria. The flexibility of incentive programs and availability of incentives ranked seventh and eighth, respectively.
Some notable projects that have taken advantage of Georgia’s business climate include the construction of a bio-pharmaceutical manufacturing facility by Baxter International, investing over $1 billion in Georgia. In 2014, Georgia attracted a $337 million project by Keurig Green Mountain Inc. and a $371 million project by Toyo Tire North America Manufacturing Inc.
Continue the discussion on LinkedIn: What are the most important factors in deciding where to locate a business?
For more information about Georgia’s tax incentives, check out Bloomberg BNA’s Credits and Incentives Portfolios by signing up for a free trial of the Bloomberg BNA Premier State Tax Library today.
By: Rishi Agrawal
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