Indiana recently ranked second in the nation in Site Selection magazine's Top Competitive States survey, edged out of first place by Texas, one of our top rivals for new business projects. The fact that we're nipping at the heels of the Lone Star State, which outguns us in landmass, population and revenue, not to mention the fact that they have zero corporate income tax, is testament to something fantastically positive going on in Indiana.
We've spent years in Indiana working out the details to help businesses succeed on their own terms, and crucial issues like permitting, business regulations, incentive applications and a favorable legal environment are all things we do very well. Here are some recent rankings from the Mercatus Freedom in the 50 States study that show specifically why we're giving states like Texas a run for their money.
Regulatory Environment: Texas - 24th, Indiana - 1st
Liability System: Texas - 36th, Indiana - 4th
Personal Freedom: Texas - 31st, Indiana - 7th
Health Insurance: Texas - 37th, Indiana - 8th
The bottom line is that there's so much more to creating an attractive business environment than just taxes and short-term incentives. Indiana doesn't have any door-buster promotions like zero corporate income tax or giant up-front cash incentives to offer like Texas does, but what we can deliver is the long-term payout of sustainable business costs that lead to higher profits for the long haul, with less regulation, a balanced state budget and the fiscal strength of a AAA credit rating.
As the facts and rankings continue to show, our business-friendly policies and fiscal stability have us gaining on the competition, and even top competitors like Texas are starting to notice. It's a fantastic story that definitely needs telling, and yet another reason Indiana is a state that works for business.
Victor Smith, Indiana Secretary of Commerce
Eric Doden, IEDC President