Best States for Doing Business in 2012 - #1 TEXAS

[Obama 2012 1,714]

With all of these damn highways, rail plans, bike paths, electric vehicle plugin #######... We better have the best Infrastructure lol.

Proud to be a part of the Lone Star State!

No wonder all of those Californians are flocking here!

-----------

http://bottomline.msnbc.msn.com/_news/2012/07/10/12643767-texas-tops-cnbcs-list-of-best-states-for-business?lite

By Scott Cohn, cnbc.com

Texas has done it again.

The Lone Star State makes a triumphant return as America’s top state for business — its third time at the top of our rankings.

“Listen, there is a reason that Caterpillar moved their hydraulics manufacturing and their engine manufacturing to the state of Texas,” said Gov. Rick Perry in November during the CNBC Republican presidential debate.

We can attest to that.

In our sixth annual study, Texas racked up an impressive 1,604 points out of a possible 2,500, with top-10 finishe s in six of our 10 categories of competitiveness. Texas has never finished below second place since we began the study in 2007.

Each year, we score all 50 states on the criteria they use to sell themselves. This year’s analysis is the most comprehensive yet, using 51 metrics developed with the help of the National Association of Manufacturers and the Council on Competitiveness, as well as input from the states themselves.

This year’s categories and possible point totals are:

•Cost of doing business (350)

•Work force (350)

•Quality of life (350)

•Infrastructure and transportation (325)

•Economy (325)

•Education (225)

•Technology and innovation (225)

•Business friendliness (200)

•Access to capital (100)

•Cost of living (50)

This year’s study comes amid slowly improving fortunes for the states. A recovering economy coupled with lingering fiscal restraint following the Great Recession are helping states improve their finances for the first time in years.

“Revenue performance remains positive, expenditures in most states are stable and few states have faced midyear budget shortfalls in fiscal year 2012,” the National Conference of State Legislators reported in May. That means states can resume their focus on the battle for business — and jobs.

In addition to holding the top spot overall, Texas has the nation’s best infrastructure, according to our study. It improved to second place for technology and innovation, and boasts the third lowest cost of living. The state's work force improved to seventh best from 14th last year. Access to capital declined a bit, but Texas still finished in the top 10 (eighth). Perhaps most impressive is the fact that the Texas economy recovered from a rare stumble last year, when it finished 14th in the category. It improved to fifth this year.

Texas endured a wrenching budget crisis last year. While the state is still not out of the fiscal woods, it managed to emerge with its sterling, triple-A bond rating and stable outlook intact.

The state had to make some sacrifices though, and that hurt in some categories. Texas comes in 26th in education and 35th in quality of life. And while the state held the line on income taxes, the overall tax burden — including property and sales taxes — is high. That hurts Texas in the all-important cost of doing business category, where it comes in 28th.

Since we began ranking the states in 2007, Texas and Virginia have traded places each year in first and second place. But the pattern was broken in 2012.

This year’s runner-up is not Virginia but Utah, which surged from last year’s eighth-place finish. The Beehive State boasts low costs (11th lowest for cost of doing business, sixth for cost of living), a world class work force (ninth place) and moves into the top 10 for quality of Life. The state has seen an impressive influx of venture capital of late, jumping 10 places to 13th for access to capital, and its infrastructure improved to eighth place this year.

So what happened to Virginia — last year’s top state?

Virginia is still a contender, finishing a solid third overall. But it faltered in two categories in particular: infrastructure and economy.

Infrastructure — specifically the state’s perpetually clogged highways — has long been an issue in fast-growing Virginia, and there is fresh evidence this year that the state is having trouble keeping pace. With some of the country's toughest commutes, the state dipped to No. 33 in the category, down from 10th a year ago.

Virginia’s economy remains in the top tier. But it has suffered in part due to circumstances beyond its control. The state’s proximity to Washington, D.C., has helped in previous years. However, late last year Moody’s slapped a negative outlook on Virginia’s otherwise pristine bond rating because of the federal government’s fiscal crisis. That contributed to Virginia slipping to 10th from eighth in our economy category this year.

While still the envy of most states, Virginia declined in a total of six categories in 2012. The other four are cost of doing business (down to 32nd from 21st), education (down to 13th from sixth), technology and innovation (down to 14th from 11th) and business friendliness (down to fourth from third). In this competition, you can’t post that many declines and stay on top — or, it turns out, finish second either.

Rounding out the top five winners are one perennial favorite and one newcomer.

Fourth-ranked North Carolina is often a contender, thanks in large part to its well-educated work force. This year, more of those workers are available. It’s a silver lining to a jobs crisis that has disproportionately affected the Tarheel State, where unemployment is considerably higher than the national average.

Cracking — or should we say fracking — our top five ranking for the first time is North Dakota, where an oil and gas boom fueled by the state's Bakken Shale formation shows few signs of easing. Improving to fifth overall from 13th place last year, North Dakota boasts the fastest growing economy in the country. Unemployment is practically nonexistent. But there are indications North Dakota’s success is more than just a flash in the oil pan.

The state moves up in quality of life (five) as well as business friendliness (four), which measures the states’ legal and regulatory climates.

But all is not Zen in the Peace Garden State. North Dakota still lags when it comes to technology and innovation (47) and access to capital (43).

Dropping out of the top five this year are Georgia, which was fourth and is now ninth, and Colorado, which was fifth and is now eighth. Georgia lost ground in the education category, while in Colorado the cost of doing business rose.

This year’s most improved state is Idaho, which climbed a whopping 18 spots to finish 13th overall. Like most of the country, Idaho’s economy has returned to more solid footing. But the state’s business costs improved as well, thanks to low wages and utility costs.

The biggest decline came in Massachusetts. A top-five finisher in 2010 and in sixth place last year, the Bay State tumbles all the way to 28th place this year. Still a top state for education (three) and a magnet for capital (tied with California for No. 1 in access to capital), the Massachusetts economy nonetheless faltered, dropping to 21st from 15th.

Also in the Massachusetts, the cost of doing Business rose (to 41st from 49th), and Infrastructure crumbled (to 45th from 29th). Even in technology and innovation (down to seventh from third), the state that practically invented the high-tech corridor lost ground.

This year’s bottom state for in the business category, for a second straight year, is Rhode Island. The state finishes at or near the bottom for Infrastructure (50), Economy (49) and Business Friendliness (49). It's an expensive state in which to do business (45) and to live (44). The state also plunged in work force (down to 46 from 26) rankings.

But perhaps owing to the adage “buy low, sell high,” Rhode Island is seeing a small surge in investment, moving up in access to capital (up to 10th from 35th).

How does your state stack up? Check out our complete rankings. And just as you do every year, be sure to tell us what you think.

[Ban Hammer 13,343]

:dance: yay texas!

[Darnell 8,478]

it's a joke, Charles. If I had to explain it, then it wouldn't be funny.

Perhaps it's an *INSIDE* joke, ah?

Edited July 11, 2012 by Darnell

[Ban Hammer 13,343]

it's a joke, Charles. If I had to explain it, then it wouldn't be funny.

Perhaps it's an *INSIDE* joke, ah?

you can explain it to me via pm.

[Ban Hammer 13,343]

one post that could be construed in another manner in which it was intended removed, along with one quoting.

[Captain Oates 911]

I wonder how they rate on minimum wage jobs / unionization / life expectancy /health care coverage /premature baby deaths / school graduation / gun killings / incarceration rates --- etc etc

it's ok - I know

[rocks 494]

I wonder how they rate on minimum wage jobs / unionization / life expectancy /health care coverage /premature baby deaths / school graduation / gun killings / incarceration rates --- etc etc

it's ok - I know

They rank 46 out of 50 for poverty. Go Texas!

[Captain Oates 911]

They rank 46 out of 50 for poverty. Go Texas!

Slavery is a state of mind and its roots go deep

[Obama 2012 1,714]

They rank 46 out of 50 for poverty. Go Texas!

Ha. Poverty in the United States is overrated for 1. Poverty in this country actually means you have a home, a car, a couple of TVs, clothes on your back, and food to eat.... Yeah, that's poverty alright.

and make fun of minimum wage jobs all you want, the cost of living in this state is actually so that you can live on minimum wage. Something someone in the northeast or west wouldn't understand where the government has bastardized the hell out of the system.

[rocks 494]

Ha. Poverty in the United States is overrated for 1. Poverty in this country actually means you have a home, a car, a couple of TVs, clothes on your back, and food to eat.... Yeah, that's poverty alright.

and make fun of minimum wage jobs all you want, the cost of living in this state is actually so that you can live on minimum wage. Something someone in the northeast or west wouldn't understand where the government has bastardized the hell out of the system.

Does it? Since when? Pretty sure I went over this before. Poverty means you can't get to a doctor 30 miles away each way when you're pregnant, which is extremely dangerous. You have already had a child die and are in the middle of a high risk pregnancy. This is what real poverty is like, it results in high child mortality rates.

[Captain Oates 911]

Ha. Poverty in the United States is overrated for 1. Poverty in this country actually means you have a home, a car, a couple of TVs, clothes on your back, and food to eat.... Yeah, that's poverty alright.

and make fun of minimum wage jobs all you want, the cost of living in this state is actually so that you can live on minimum wage. Something someone in the northeast or west wouldn't understand where the government has bastardized the hell out of the system.

The main effect of poverty is poverty of spirit

If you are working yourself to death in a factory with horrible conditions and low pay, your optimism and hope are the first casualties and you end up with poverty of spirit - especially if your Governor is gay and wont admit it

It's then a race to the bottom (no pun intended mr governor)

When I interviewed for a job with mr cohen, he said to me "What is the least you will work for"

I know how that goes...

[Obama 2012 1,714]

I wonder how they rate on minimum wage jobs / unionization / life expectancy /health care coverage /premature baby deaths / school graduation / gun killings / incarceration rates --- etc etc

it's ok - I know

Unionization?

Please. Right to work baby. Some of us don't need to bully our way through life. Unless of course you work as a defense contractor, then you have no choice thanks to Federal regulations and taking that sort of money.

Life Expectancy? - You actually think this should be used as a Tool? We should praise Mississippi and Virginia for being #50 and #51 in the country. At least they aren't draining the Social Security and Medicare system like Hawaii, Minnesota, and California. -- People living a long time is NOT a good thing for the overall health of the nation. Hate to break this to ya. People may "want" to live, but we sure as hell don't need them to.

Health Care Coverage? - It's great. Don't have to wait at all if I need to get there, get an MRI, CT Scan, etc. All can happen within a 24 hour period and a lot of times same day. We actually have the best cancer research center and hospital in the world here as well.

Infant Mortality: We rank 17th in the nation (on the positive side). Top 25 isn't bad at all.

Graduation Rates: Come down here and see our illegal immigrant/ESL problem and you'll see why California suffers here as well.

Gun Killings: California has us beat here as well

[rocks 494]

Graduation Rates: Come down here and see our illegal immigrant/ESL problem and you'll see why California suffers here as well.

According to the 2005 census Texas is 29 out of 50, top 30 is pretty good going!

Texas does quite well in education compared to other southern states as I discovered from another thread. Especially for the level of poverty it has. This has to be a result of the 52 fortune 500 companies it has.

California has Texas beat on fortune 500 companies, it has 53. Median income is higher too. Still, not bad for a southern state.

[Obama 2012 1,714]

Does it? Since when? Pretty sure I went over this before. Poverty means you can't get to a doctor 30 miles away each way when you're pregnant, which is extremely dangerous. You have already had a child die and are in the middle of a high risk pregnancy. This is what real poverty is like, it results in high child mortality rates.

Why are you having a child if you cannot afford one?

[rocks 494]

Why are you having a child if you cannot afford one?

That would make poverty disappear, right?

Why have a car if you can't afford it? Lets get rid of car loans. Why have a house if you can't afford it. Scrap mortgages too! Lets all live in caves and eat squirrels.