“Indiana’s low-cost business environment has put the Hoosier State at the top of the list for private-sector job growth over the past year and now is garnering even more national attention,” Gov. Mike Pence said in the release.
These rankings were released by the Area Development Top States for Doing Business Survey, which, according to the release, is “a ranking that gauges the current business climate among the 50 states by site selection consultants.”
The state was listed as first in the category of skilled labor availability and placed in water availability and cost, distribution and supply chains hubs, rail and highway accessibility and corporate tax environment.
“Indiana is a great place to do business, and the world is recognizing this,” David Harrison, a lecturer at the Kelley School of Business, said in an email. “If you owned a business, wouldn’t you want to locate and invest where you can attract and keep great employees, operate at comparatively lower cost, and (be) where government is fair and predictable?”
In July, Indiana also took home the title of seventh best in the nation in the Pollina Corporate Top 10 Pro-Business States for 2014, which is a study co-published by the American Economic Development Institute, according to the release.
Harrison said, comparatively speaking, Indiana’s population is friendlier and more trustworthy.
“Whenever trust is high, business thrives,” he said. “Decisions are made quicker, which results in lower cost. When trust is high, employees are more inspired because they feel more part of a team with a sense of purpose.”
Victor Smith, secretary of commerce for Indiana, said in the release that companies really take these rankings into account when it comes to hiring people and investing in businesses.
“From workforce availability to location and infrastructure, to the regulatory environment and business expenses, companies need a place where they can do their best work,” he said. “Indiana’s rise to the top reflects the same conclusion that companies around the world are reaching with their own research — Indiana is a state that works for business.”
Indiana was also just ranked in Crain’s Chicago Business report as having one of the nation’s lowest tax burdens — 3.7 percent, compared to the nation’s average of 4.7 percent.
“Since day one, our administration has worked hard to continue making Indiana more and more business-friendly,” Pence said.
Harrison said there were many factors coming together that make Indiana such a great place for businesses.
“All together, when you look at the recipe for success, Indiana is very appetizing as a place businesses want to grow,” he said.
