FRANKFORT, Ky. — Kentucky ranks eight in the U.S. for best business climate, according to Site Selection magazine’s yearly Top State Business Climate rankings.
Kentucky was ranked ninth last year and 11th in 2012.
“Kentucky’s economy continues to grow,” said Gov. Steve Beshear. “We’re proud to offer companies a pro-business environment, including an educated workforce, strong infrastructure and progressive incentives. This ranking reflects our dedication toward creating more jobs and supporting our Kentucky families.”
Half of the ranking is based on a survey of corporate site selectors, who rank states based on their recent experience of locating facilities. The other half is based on: performance in Site Selection’s annual Competitiveness ranking; total New Plant Database compliant facilities in 2013; total new facilities in 2013 per capita; total 2014 new projects year to date; total 2014 projects year to date per capita; state tax burdens on mature firms; and on new firms according to the Tax Foundation and KPMG Location Matters analysis.
Kentucky moved up a spot this year because “it is increasingly attractive to capital investors seeking a new location for their operations,” says Mark Arend, Editor-In-Chief of Site Selection. “States that are trending up in this ranking, like Kentucky, are the states that will attract new and more focused scrutiny that will likely result in new plants and expansions.”