I recently read an article by Area Development Magazine, which showcased the 2013 Top 10 States for doing business in 2013. Is your state on this list?
TOP STATES FOR DOING BUSINESS 2013
I visited a few of the Top 10 State websites and researched why they’re doing great in terms of their Business Expansion, Attraction and Retention strategies and found a few common denominators:
Welcome Businesses – Help facilitate new investment and to create a business-friendly environment that ensures a stable economy. Economic growth, energy independence, revenue enhancement, and community revitalization are accomplished by attracting new companies, retaining and/or expanding existing companies
Retention Focus – Top 10 States believe retention of existing businesses is the highest priority.
Targeted Industries – Identify the need within communities and collaborate with specialized training associated with those community industries. Various states work directly with key businesses in targeted industries to provide assistance and incentives that result in the retention and creation of jobs and investment within their cities and counties.
Assistance and Incentives – Existing businesses receive assistance with various permitting assistance and financial incentives to ensure that existing and future expansion needs are met. An Enterprise Zone is a defined geographic area in which businesses can claim certain state income tax savings and other advantages. Enterprise Zones were created to stimulate business investments in areas that are economically disadvantage and to spur job growth in area of high unemployment.
Networking – By cultivating an open dialogue and partnership with private non-profit organizations, trade associations and other institutions to maintain a business-friendly environment. In addition, various states offered a Job Referral Service working collaboratively with Workforce Development agencies that will with recruitment and pre-screening for new employees.
Launchpad offers an Economic Development application that can assist you in your efforts to collaborate with businesses and each other in real time. Our Workforce Development application is already assisting agencies with placing people in jobs.
Contact us for a demonstration!