NASHVILLE, Tenn., April 24, 2024 /PRNewswire/ — CEOs surveyed for Chief Executive magazine’s annual list of the Best and Worst States for Business once again ranked Indiana as the top-ranked Midwestern state and the sixth-best state for business overall, maintaining its elite position on the list from last year. The rankings, released in the Spring issue of Chief Executive, reflect Indiana’s ongoing efforts to create a welcoming environment for businesses of all sizes and industries.
The ranking is based on a survey of more than 500 CEOs across the country who were asked to rate states based on their opinion of how easy it was to do business in that state versus others. Indiana’s high ranking is thanks to favorable tax conditions, solid infrastructure and favorable quality of life.
“This ranking is a testament to Indiana’s commitment to fostering a business-friendly environment that encourages growth and innovation,” said Chris Chalk, Publisher, Chief Executive magazine. “From its skilled workforce to its strategic location and pro-business policies, Indiana offers everything businesses need to succeed.”
The Hoosier State is building upon solid foundation, with the sixth consecutive record-breaking year for economic development. The growth is due in part to several notable groundbreakings and expansions in the past year. Eli Lilly announced in April 2023 a $1.6 billion investment in two manufacturing sites and 200 new jobs in Boone County, while GM and Samsung SDI announced in June 2023 a $3 billion EV battery factory and 1,700 new jobs in New Carlisle.
Conco announced in August 2023 a $50 million investment in operations in southern Indiana, which will create up to 175 high-wage jobs by the end of 2026. “When looking at locations, the former Tokusen USA space was a perfect fit for what we needed to expand,” Karen Paschal, CEO of Conco told Chief Executive. “We look forward to working with the State of Indiana, the City of Scottsburg, and its residents to create additional growth for the region.”
Here’s what some of the CEOs we surveyed had to say about why they ranked Indiana so highly:
“In all four states the lower tax rates and friendly business environment from the state governments are the key factors. Specifically, to Indiana I would add the strong workforce that has a good work ethic.”
“Indiana has the greatest Economic Development group in the Nation and is very pro-business. Aggressive in recruitment. Indiana is sound financially and has a surplus of funds, a rarity!”
“Indiana has been a dream to work with during our relocation from MA. The local and state incentives and support have been second to none.”
“Indiana has opened up the opportunities for companies of all sizes to grow. The business climate is helpful with complicated issues. The IEDC is very proactive in attracting business.”
The Top 5 States for 2024:
- Texas
- Florida
- Tennessee
- Arizona
- North Carolina
The Bottom 5 States for 2024:
46. Washington
47. New Jersey
48. Illinois
49. New York
50. California
Biggest Gain, 2023-24:
North Dakota, + 13 to 16th place
Biggest Loss, 2023-24:
Colorado, – 16 to 29th place
Enhanced Coverage online: https://chiefexecutive.net/best-worst-states-business/
About Chief Executive Group
Chief Executive Group exists to improve the performance of U.S. CEOs, CFOs, CIOs, CHROs and corporate directors. We publish Chief Executive magazine, ChiefExecutive.net, Corporate Board Member magazine, BoardMember.com, StrategicCFO360.com, StrategicCIO360.com and StrategicCHRO360.com, and run some of the nation’s most essential peer-networking communities, including The CFO Leadership Council, Chief and Senior Executive Networks, Corporate Board Member Network and The American College of Corporate Directors.
For media inquiries, please contact:
Dan Bigman, Editor, Chief Executive, 203-889-4980,
376636@email4pr.com
SOURCE Chief Executive Group
