PDT Staff Writer
FRANKFORT, Ky. — The office of Kentucky Governor, Steve Beshear, is reporting Site Selection Magazine has recognized Kentucky’s business climate among the Top 10 in the nation in its 2013 Top State Business Climate ranking.
The state of Kentucky jumped two spots from 2012, and is ranked ninth overall in this year’s annual survey, which includes input from corporate site selectors and a mix of other leading indicators.
“This is further proof that Kentucky’s economy is heading in the right direction,” Beshear said. “The ranking reflects our dedication to economic growth by offering companies an array of assets and business advantages, including a strong and educated workforce, robust infrastructure, progressive incentive programs and a pro-business environment.”
The ranking is based 50 percent on a survey of corporate site selectors and 50 percent on a set of criteria that include the states’ competitiveness rank as published in Site Selection’s May issue; qualified projects so far in 2013 and on a per capita basis; and state tax burdens on new and mature firms as compiled by the Tax Foundation and KPMG Location Matters analysis.
Kentucky scored particularly well in project activity categories, including first place for number of qualified projects on a per capita basis in 2012; second place for number of qualified projects on a per capita basis for the first eight months of 2013; and an overall 10th place finish for project activity in 2012, taking population out of consideration.
Mark Arend, editor in chief of Site Selection Magazine, said the ranking reflects initiative to attract capital investment.
“We are pleased to include Kentucky on our list of Top 10 state business climates with a ninth-place finish for 2013, up from 11th place the previous year,” Arend said. “States that rank this prominently are taking the steps necessary to attract capital investment, and our readers will pay close attention to these efforts in the year ahead.”
Site Selection is published by Conway Date Inc., and delivers expansion planning information to nearly 49,000 subscribers.
The article and rankings can be viewed in their entirety at www.siteselection.com.
Portia Williams may be reached at 740-353-3101, ext. 286 or firstname.lastname@example.org. For breaking news, follow Portia on Twitter @PortiaWillPDT.