In a recent CNBC study, Indiana was ranked among the top 20 states for business. In fact, since last year, it has moved up five spots on the list — from 16 to 11.
This score was determined based on input from a wide variety of business experts, government sources and the states themselves. CNBC scores the states on 64 metrics across 10 main categories: economy, workforce, infrastructure, cost of doing business, quality of life, education, technology and innovation, business friendliness, access to capital, and cost of living.
As in previous years, the Hoosier state scored well in cost of doing business and business friendliness, ranking fourth in the nation in both categories. What’s even more impressive is that it’s now ranked first in infrastructure.
As CNBC’s state profile shows, Indiana also boasts low individual and corporate income tax rates, topping out at 3.23% and 5.75%, respectively. The Tax Foundation’s 2019 State Business Tax Climate Index ranked Indiana in the top 10 states with the best tax structure for business.
Although CNBC’s list is the most watched, many other sources produce lists of state business and economic rankings. Here’s where Indiana stacks up in a few of those:
- #5 Best in 2019 Best & Worst States for Business, ChiefExecutive.net
- #11 in Best States for Business, Forbes.com
- #15 in 15 Top States With Most Business-Friendly Taxes, Business.org
Sponsel CPA Group is proud to do business in the Hoosier state. We believe these rankings will keep fellow Hoosier businesses motivated and also attract new businesses and talent to share in their success.
It is also very important that as responsible Hoosier citizens, business owners and entrepreneurs, we continue to build on our past successes and position our communities for a great quality of life for all stakeholders and our employees! We should strive to be participants in our shared success and not merely spectators.