Wyoming ranks 6th in nation for pro-business policies
by Rachel Girt, Wyoming Business Council
March 20, 2007
Pollina Corporate Top 10 Pro-Business States 2007 study ranks Wyoming sixth in the nation for its progressive pro-business policies that result in job growth.
The study "Keeping Jobs in America: Pollina Corporate Top 10 Pro-Business States 2007" is a comparative evaluation of the job creation and retention efforts of all 50 state governments and the federal government. The Pollina Report and its list of Top Ten Pro-Business states was unveiled before 400 economic development executives attending this week's International Economic Development Council (IEDC) Federal Forum in Arlington, VA.
The top ten states, in order, are: Virginia, South Carolina, Florida, North Carolina, Utah, Wyoming, South Dakota, Alabama, Georgia and Nebraska.
Wyoming Gov. Dave Freudenthal said the recognition means that efforts to bolster the state's business-ready climate are working.
A thriving local business economy means more Wyoming graduates will remain in the state, Freudenthal said. "As we work to improve infrastructure and help prepare our towns and cities for the businesses that we know are coming, frankly, it's good to know that groups like the one that conducts the Pollina study are paying attention to all that the state has to offer."
"Wyoming is a preferred place for businesses," Freudenthal added. "As the state's economy benefits from diversification, Wyoming as a whole gains from the vitality that enterprising businesses owners and employees bring here."
Wyoming has been in the top ten states since the study began in 2004. The Top 10 Pro-Business States study attributes Wyoming’s high ranking to being a right-to-work state with no personal or corporate income taxes and having low operating costs for business.
“Wyoming’s economic development game plan continues to be supported by the foresight of the Governor and Legislature,” said Tucker Fagan, CEO of Wyoming Business Council. “Investment of taxpayer money to grow and diversify the economy is a priority. Our ranking confirms that this is the right track.”
"Wyoming has a lot to be proud of as a right-to-work state with no individual income taxes, no inventory tax, and generally low operating costs for business," said Dr. Pollina, the study’s author and president of Pollina Corporate Real Estate. "With no individual income taxes and a 1st place ranking for Business Tax Index tied with Nevada and South Dakota, the state has an overall attractive tax position, while it ranks well in our report in terms of Employment Index and Unemployment Insurance Tax Rate. Wyoming also scores well for Electricity, and Quality of Life.”
"Its workforce training program offers up to $2,000 per new employee for training-related costs, and the Quick Start workforce development program is beneficial in improving labor skills for manufacturing, warehouse and distribution employees," added Dr. Pollina. “The people of Wyoming should be very proud of the effort their governor and legislators have made to foster quality job opportunities."
The study is limited to factors over which state government has control. The study ranks states based on many factors, including: taxes, human resources, right-to-work legislation, energy costs, infrastructure spending, workers compensation legislation, jobs lost or gained, incentive programs and state economic development departments.
Pollina Corporate Real Estate, Inc. is a corporate site relocation firm. The company has done the Top Ten Pro Business Study since 2004. A summary of the Pollina Report may be found at www.pollina.com, and the full report may be ordered by phone, 1+847.6859000.
The mission of the Wyoming Business Council is to facilitate the economic growth of Wyoming. For more information, please visit our Web site at www.wyomingbusiness.org