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(USGovernment-News.Com, May 29, 2012 ) Nashville, TN - VolunteerStartup.com, an innovative Tennessee LLC formation company is reporting that Chief Executive Magazine has named Tennessee one of the best states to do business in 2012. In its 8th annual list of the best and worst states to do business, Chief Executive Magazine surveyed 650 CEO’s and found Texas to be the number 1 state. Tennessee was impressively ranked at number 4. The CEO’s surveyed ranked states based upon tax and regulation environment, quality of workforce, and quality of life. The top 10 states are as follows: Texas, Florida, North Carolina, Tennessee, Indiana, Virginia, South Carolina, Georgia, Utah, and Arizona.
Texas was bolstered by Ebay/Pay Pal hiring more than 1,000 people in its Austin facilities and Facebook opening its first U.S. office outside of California in Austin. The 5 worst states for business in the survey were Michigan, Massachusetts, Illinois, New York, and in last place California.
Texas and Florida’s rankings were bolstered because they enjoyed the highest net migration of people to their states from 2001 to 2009. On the other end of the spectrum, California and New York lost 1.6 million and 1.5 million people respectively. Tennessee ranked 8th in net migration.
California held its position as worst ranked state for the eight straight year. The California economy continues to decline due to its 10.9 unemployment and its burden of having one-third of the nation’s welfare recipients. Excessive taxes and business regulations are encouraging more and more businesses elsewhere.
Tennessee achieved the number 4 ranking because of its low taxation, favorable business regulations, availability of a quality workforce, affordable housing, desirable weather, and its high quality of life. The state and local tax burden for Tennessee was found to be 2% less than the national average.
“We have always known that Tennessee was a great place to do business, but this study confirms what Tennessee entrepreneurs experience on a daily basis. Tennessee is a great place to live, play, work, and raise a family”, states Michael L. Smith, founder of VolunteerStartup.com and licensed attorney in Tennessee. “From Johnson City to Memphis there are business opportunities in this state, despite the economic climate around the country. As the economy recovers, Tennessee businesses will be among the first to bounce back. After all, that is part of the Volunteer spirit.”
About VolunteerStartup.com
VolunteerStartup.com is an innovator in providing high quality, low cost legal services to entrepreneurs in Tennessee. From its offices in Tennessee, VolunteerStartup.com assists business owners throughout the Volunteer state with the legal creation of their Tennessee Limited Liability Company or the registration of their Tennessee Trademark. For more information regarding Tennessee LLC formation please visit www.VolunteerStartup.com.
Contact:
VolunteerStartup.com Nashville 415 Church St #1603 Nashville, TN 37219 Phone: (865) 777-9455 Fax: (865) 777-9456 info@volunteerstartup.com
The information contained in this document is not intended to constitute legal or tax advice. An attorney should be consulted regarding your particular situation. Tennessee law requires that we inform you that THIS IS ADVERTISING MATERIAL.
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