Behind Indiana’s Impressive CEO Ranking

Many of you likely saw the news yesterday about Indiana maintaining its No. 5 overall ranking – and tops in the Midwest – in Chief Executive magazine’s 13th annual Best & Worst States for Business survey. A few things that might have been missed:

  • As the name indicates, these rankings are based on CEO perceptions. It’s good for Indiana to be regarded so highly overall by the group making ultimate business decisions, but it also leads to few changes for most states
  • Texas was No. 1 for the 13th straight year and Florida No. 2 for the fifth year in a row. North Carolina (despite the turmoil over its since-repealed transgender bathroom issue) and South Carolina also topped Indiana
  • At the bottom, California was at No. 50 for the sixth year in a row. New York and Illinois were next in line
  • There has been some movement, however, in the middle. Ohio, now at No. 11, was No. 41 in 2011 and No. 22 just two years ago. On the other end of the spectrum, Louisiana was No. 7 in 2015 and No. 33 this time around
  • Indiana’s individual category rankings included: Workforce quality, No. 8 (although we know there is much work to do in this area); taxes and regulation, No. 14 (we would have expected to be a little higher there); and living environment, No. 16
  • Industry rankings were also part of the survey. Indiana was second in manufacturing and 10th in energy

Larry Gigerich, executive managing director of Fishers-based Ginovus and chair of the Indiana Chamber’s economic development committee, was quoted in the release of the rankings. He said simply, “The top-ranking states have continued to implement public policy supporting economic development to ensure that they remain as leaders.”

Complete rankings are available online.

Indiana Climbs in Small Business Policy Index

Indiana ranks seventh in the Small Business & Entrepreneurship Council’s 2017 Small Business Policy Index (up from 10th in last year’s ranking).

This is the SBE Council’s 21st annual look at how public policies in the 50 states affect entrepreneurship, small businesses and the economy. The report ranks the 50 states according to 55 different policy measures, including a tax, regulatory and government spending measurements.

According to the report, the most entrepreneur-friendly states under the “Small Business Policy Index 2017” are Nevada, Texas, South Dakota, Wyoming, Florida, Washington, Indiana, Arizona, Alabama, and Ohio. In contrast, the policy environments that rank at the bottom include Rhode Island, Oregon, Iowa, Connecticut, Maine, Hawaii, Vermont, Minnesota, New York, New Jersey, and California.

Indiana Named Best State in the Midwest for Business

?????????????????????????????????????????A new Chief Executive magazine survey labels Indiana as the best state for business in the Midwest — and the sixth best in the U.S. A release from the Indiana Economic Development Corporation (IEDC) has more:

The magazine’s “Best & Worst States For Business” ranking is based on surveys of more than 500 CEOs. According to Chief Executive, the results of the 11th annual survey show that CEOs favor states with progressive business development programs, low taxes and a quality living environment.

“We’ve worked hard to create a low-cost, pro-growth economic environment here in Indiana,” said Governor Mike Pence. “This ranking confirms what we already know as Hoosiers. With an honestly balanced budget, robust infrastructure and a top-notch workforce, Indiana is a state that works for business.”

As highlighted by Chief Executive, Indiana became the first Midwestern right-to-work state in 2012, a law that was upheld by the Indiana Supreme Court last year. Since its passing, more than 100 companies have indicated to the IEDC that its passage was a factor in their decisions to locate or expand operations in Indiana. Collectively, these projects account for approximately 10,000 projected new jobs and more than $2.3 billion capital investment in the state.

Indiana’s 6th place ranking makes it the only Midwestern state in the publication’s top 10. Among neighboring states, Kentucky ranked 28th, Ohio ranked 22nd, Michigan ranked 43rd and Illinois ranked 49th.

This Chief Executive magazine ranking is the latest in a series of national accolades for Indiana’s business climate. Last year, Indiana was ranked best in the Midwest and 7th overall in Area Development magazine’s “Top States for Doing Business” as well as best in the Midwest and 7th in the nation in the Pollina Corporate “Top 10 Pro-Business States for 2014” study.

Chief Executive magazine is a bi-monthly publication for top management executives published by the Chief Executive Group LLC. Founded in 1977, the Chief Executive Group LLC is headquartered in Greenwich, Connecticut. The full survey results are available online.

Economic Freedom: Where We Rank

Everybody: "We’re number 9! We’re number 9!"

The Heritage Foundation released a list of the best and worst countries on the economic freedom scale. For more on the actual criteria, see the full post. But here are the top 10 lists:

Most Free

  1. Hong Kong (1st)
  2. Singapore (2nd)
  3. Australia (3rd)
  4. New Zealand (4th)
  5. Switzerland (5th)
  6. Canada (6th)
  7. Ireland (7th)
  8. Denmark (8th)
  9. United States (9th)
  10. Bahrain (10th)

Least Free

  1. Timor-Leste (170th)
  2. Iran (171st)
  3. D.R. of Congo (172nd)
  4. Libya (173rd)
  5. Burma (174th)
  6. Venezuela (175th)
  7. Eritrea (176th)
  8. Cuba (177th)
  9. Zimbabwe (178th)
  10. North Korea (179th)

U.S. Ranks 7th on Quality of Life Index, France Takes the Crepe

The publication International Living just released its 30th annual Quality of Life Index, which attempts to answer the question, "Where is the best place to live?" Huffington Post writes:

Using what seems to be a semi-statistical reasoning (data is used, but so is personal experience), the countries have been ranked in 10 categories – Cost of Living, Culture and Leisure, Economy, Environment, Freedom, Health, Infrastructure, Safety and Risk, and Climate.

As usual, the rankings have provoked equal shock and happiness from different quarters – Brits seem exceptionally upset, although not surprised, that their ranking has dropped below that of the Czech Republic.

I’ll grant you, it does seem somewhat subjective based on the criteria. But the top 10 is as follows:

  1. France
  2. Australia
  3. Switzerland
  4. Germany
  5. New Zealand
  6. Luxembourg
  7. United States
  8. Belgium
  9. Canada
  10. Italy

So there you go. Opine away…

We’re No. 2 … in Economic Ranking

The World Economic Forum takes Geneva over Washington in its latest global competitiveness report. In other words, Switzerland tops the United States in the ranking of world economies. It is the first time out of the No. 1 spot for the U.S. since the rankings were revised in 2004.

Why the downgrade? The report cites banking system troubles, concerns about the "government’s ability to maintain distance from the private sector" and doubts about firms’ auditing and reporting standards.

The Swiss, who also dipped into recession and had to bail out their largest bank (UBS), were lauded for "capacity to innovate, sophisticated business culture, effective public services, excellent infrastructure and well-functioning goods markets."

In the banking category, Canada led the way. The U.S. was 108th (behind Tanzania) and the British 126th.

Public data and an executive opinion survey are used to compile the rankings. Behind the Swiss and the Americans are: Singapore, Sweden, Denmark, Finland, Germany, Japan, Canada and the Netherlands.

At the bottom were African countries Zimbabwe and Burundi. For Zimbabwe, the report cited "corruption, basic government inefficiency and the complete absence of property rights."

Magazine Ranks Indiana Top Business State in Midwest

In a recent ranking by Chief Executive magazine, Indiana was listed as the 11th best state in the U.S. for business, and the best in the Midwest. Texas topped the list, while New York was last.

And sadly, our neighbors, Ohio, Illinois, and Michigan placed 45th, 46th, and 49th, respectively. So perhaps the term "island of prosperity" might indeed apply to us after all. (Although Kentucky was 23rd.)

Hat tip to Inside Indiana Business.