Area Development, the leading site selection and facility planning publication, announced the results of its 2023 Top States for Doing Business survey of location consultants. According to the results, both Carolinas ranked within the top five. South Carolina was placed at number two and North Carolina at number four.
Area Development asked a select group of consultants who work with a nationwide client base to name their top state choices in 14 categories that impact companies’ location and facility plans. The states were ranked based on their number of mentions in each category — weighted by the diversity of categories in which they were mentioned.
“Area Development’s Top States for Doing Business Survey polls selected site location consultants who are responsible for their clients’ location and expansion decisions that each year result in billions of dollars in capex, millions of square feet in new construction, and thousands of new U.S. jobs,” Publisher & President Dennis J. Shea said.
One result that has remained unchanged in recent years is the fact that the South is well-represented in the top 10 ranking. Jurisdictions in the Southeast, in particular, have built attractive incentives, workforce programs, and a generally business-friendly attitude, and their labor markets tend to be favorable in terms of cost, availability, and right-to-work status.
Both Carolinas were ranked in the top 10 in most of the 14 sub-categories. Ranking second overall, South Carolina ranks first for the related factors of available real estate, site-readiness programs, and speed of project permitting. Ranking fourth overall, North Carolina ranks second in the categories of competitive labor market and corporate tax structure.
See the full list of rankings here.
