Friday, January 9, 2009

Washington ranked #1 state to start a business by U.S. News & World Report

While we may not have a sports team that can rise above .500, our state at least gets to wear this huge championship belt around our collective waist:

U.S. News and World Report just released their ranking of the best states in which to start a business and Washington tops the list.

Here's what they have to say about us:
#1 Washington. The Evergreen State tops the list by coming in second on the New State Economy Index and fifth on the Small Business Survival Index. Washington is first among the states in steps toward energy efficiency and using more alternative-energy sources. It also has a highly productive manufacturing sector, signaling high wages and a tech-intensive economy. Washington leads the nation in value added per production hour as a percentage of the national average—the difference in value between inputs in the production process and the value of the units as finally sold. But in addition to these nonpolitical factors, Washington also has very low taxes, making the costs of growing a business quite low. It does not have its own income or capital-gains taxes, either personal or corporate.
This isn't the only list that puts Washington at or near the top of its business rankings. Back in July Forbes Magazine listed our state #3 "Best State for Business," climbing from 5th in 2007 and 12th in 2006.

While this may not rise to the level of a parade down 1st Avenue and some overturned cars, this can go a long way in recruiting and retaining business in our state. And it's certainly nice to gain national recognition for something other than storm and flood "events."