Georgia Still ‘Top State for Doing Business.’ Here’s How We Do It.
What do you get when you combine the best workforce training program in the nation, robust logistics and infrastructure, and a business-friendly environment? The recognition of being the “Top State for Doing Business,” of course.
For an unprecedented ninth year in a row, Georgia was recently honored with this title from Area Development magazine.
The state was chosen by a panel of experts from leading site consulting firms across the U.S. for excelling in 13 categories that are determining factors in the best places to grow and do business. Georgia not only ranks No. 1 in seven of these categories, but also ranks in the top 10 for each of the others.
Panelists utilized by Area Development have spent years working in economic development and location selection and have learned through experience which states are standouts when it comes to doing business. Time and again, they’ve chosen Georgia as the No. 1 place where businesses can grow and thrive.
Georgia’s advantages include a stable corporate tax rate, a diverse talent pool of college and technical school graduates, and a low cost of doing business. Coupled with top-notch infrastructure and logistics, bountiful development-ready real estate, and a portfolio of meaningful tax credits and exemptions, it’s no wonder site selectors have Georgia on their mind.
The state has continuously broken economic development records, with investments in expansion and new locations totaling more than $21.2 billion during fiscal year 2022. A large portion of that economic growth and success has come from leading sectors like electric vehicle manufacturing, food processing, and life sciences.
Economic development is bolstered by state resources like Georgia Quick Start, the University System of Georgia, and the Georgia Department of Economic Development, which provides resources like the Georgia Center of Innovation, the Georgia Ready for Accelerated Development (GRAD) Program, and a team of project managers ready to assist businesses in locating and expanding within the state.
For decades, Georgia has invested in the tools and relationships that keep businesses connected and competitive – equipping them with tools for success.
The state’s track record with businesses ultimately shows them one thing: Georgia provides a stable environment they can count on. These factors make it clear that business wants what Georgia has.
Other Top 10 Rankings
In addition to being ranked the “Top State for Doing Business,” Georgia’s other No. 1 rankings include:
- Overall Cost of Doing Business
- Business Incentive Programs
- Competitive Labor Market
- Workforce Development Programs
- Energy Availability and Costs (tie)
- Logistics and Infrastructure
- Available Real Estate
- Cooperative and Responsive State Government
Other top rankings include:
- Site-Readiness Programs – No. 2
- Favorable Regulatory Environment – No. 2
- Speed of Project Permitting – No. 2 (tie)
- Corporate Tax Structure – No. 6 (tie)
- Access to Capital and Funding – No. 7
View Area Development's full report on the Top States for Doing Business here.
-Posted September 28, 2022