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Florida sixth-best for business

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  • | 6:07 p.m. May 14, 2010
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Low taxes helped its rank, but a criterion that looks at a state's economic production may have been misguided, as Florida earned the sixth spot on Chief Executive magazine's list of Best/Worst States for Business.

Unsurprisingly, Florida was tops in the Individual Tax Index ranking. The state also ranked highly in the comparison's Unemployment Insurance Tax Index, a business advantage that might have evaporated earlier this year if not for the state's recent decision to defer major hikes.

The most confounding factor in this survey, however, may have been that which considered a state's economic production.

The comparison ranked states based on their five-year average statewide gross domestic product. That bubble has since burst for Florida, but not before giving the state a fourth-place ranking nationwide in this particular survey.

Texas, North Carolina, Tennessee, Virginia, and Nevada (also a real estate bubble state) all ranked higher than Florida, taking the top five spots respectively. Michigan, New York, and California were considered the worst states for business by the survey.

The full rankings are available online.



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