Fiscal stability is the watchword for The Sunshine State; only the state of Tennessee is in better financial shape. That's not the only reason to operate a business here, though. Florida has a strong labor supply, no individual income tax, good quality of life, and a solid infrastructure. Having rebounded from the housing slump that depressed business activity after the Great Recession, the state is now ideally poised for growth. It has the 4th largest GDP in the United States, behind the states of California, Texas, and New York.
With a $2.9 trillion dollar economy, California is an economic powerhouse. It ranks first in the nation for its economic climate and 8th overall in growth prospects. The state's strong health care system and natural beauty contribute to the overall quality of life, and for entrepreneurs with a vision, the state ranks first in venture capital funding.
California: A Dream Come True for Savvy Entrepreneurs
California's economy, measured by both climate and prospects, ranks 4th in the nation.
With a parliamentary system of government and a market-friendly approach to business, Canada is a kind of hybrid between European democracies and the United States. The nation enjoys a high quality of life, political stability, investor protection, and low levels of crime and corruption. Its main industries are agriculture, energy, technology, services, and manufacturing. It is one of the easiest countries in the world to start a business in, and thanks to a first-rate education system, there are plenty of highly skilled employees to choose from.
Canada: Tolerance and Freedom Unite
Canada is the world's 7th largest producer of oil, and the largest foreign energy supplier to the United States.
The nation's Start Up Visa program supplies work permits to investors willing to form innovative businesses and employ Canadians.
The third largest economy in Europe after France and Germany, the United Kingdom is also one of the oldest and most stable democracies in the world. It ranks high in most quality of life indicators, including personal freedom, innovation, property rights, and investor protection. Manufacturing, once a crucial driver of economic growth, now only accounts for 10 percent of the GDP. Banking, business services, and insurance are today's key industries. Investors in the UK have access to a highly educated workforce that is fluent in English, the language of international business communication.
United Kingdom: Stability Is the Watchword
According to Forbes, the United Kingdom ranks first globally on its list of Best Countries for Business.
US News ranks the UK 5th in the world for entrepreneurship.
Fueled by a red-hot real estate boom, temperate weather, and millions of recreational wilderness acres, the Colorful State now has one the nation's strongest and fastest-growing economies. Aerospace is a key state industry, with 180 sector companies and an additional 500 suppliers of space-related services and products. With the country's second-most educated population (after Massachusetts), Colorado has a skilled workforce and one of the best infrastructures of any state. It also has a tax structure that is highly favorable to corporations.
The Great Lakes State's main goal is to transform Detroit, a city brought to its knees by the collapse of the housing market in 2008. Among other incentives, Michigan has invested $2.15 billion in a mixed use, multi-site development to revitalize growth in the metro area. The state has a favorable economic outlook overall, with a low corporate tax rate and a flat rate state income tax. Nineteen Fortune 500 businesses are located here, and several large companies, including Pfizer and Amazon, have announced plans to expand operations in the state.
Michigan: Great Deals Abound in the Great Lakes State
US News ranks Michigan 14th in the nation for opportunity.
According to Tax Foundation, the state has the 11th most favorable corporate tax rate.
Texas has consistently ranked as one of the best states in the Union in which to operate a business. It has favorable tax laws, access to capital, an ever-expanding popular of skilled labor, and a low cost of doing business. More than a hundred of the country's largest corporations are located in the Lone Star State, including Dell, ExxonMobil, and AT&T. The state also offers a variety of incentives and tax breaks for corporations who do business here.
Texas: The Lone Star Advantage
The Tax Foundation ranks Texas 15th nationwide for its business-friendly tax structure.
According to Forbes, Texas is the third best state in the country for business and the best state in growth prospects.
Texas has more fiscal stability than most states, ranking 12th in the nation.
With a population growth that is currently fifth in the United States, the Grand Canyon State is poised for rapid employment growth. Low rates of unionization, no personal income tax, and a strong labor supply force make this a friendly state for business owners, and Arizona has the infrastructure to handle growth. In fact, it recently surpassed Texas in landing corporate relocations.
Arizona: A Red Hot Economy Poised for Growth
According to Forbes, Arizona ranks 5th in the nation for growth prospects.