Southern states in the U.S. not only have warmer weather but a better business climate than most northern states, according to a business publication which tracks economic growth and development.
In its 16th annual assessment of business climates, Business Facilities magazine ranked Texas, Virginia, Tennessee and Alabama, in that order, as the states most favorable for businesses. The top metro cities for business climates are Orlando, Atlanta, Austin, Texas and Phoenix.
Among mid-sized cities, Birmingham, Alabama was ranked No. 1 and among small metro cities, Huntsville, Alabama ranked No. 1
Texas, which ranked as the fourth best business climate in the country a year ago, displaced last year’s top-rated Tennessee with the crown for the state with the best overall environment for business in the analysis by Business Facilities. The magazine cited Texas’ growing skilled workforce, innovation ecosystem and readily available renewable wind and solar energy as tops for corporate site selectors evaluating locations for their next project.
The Lone Star state also has some of the richest incentives for businesses locating in the state.