Magazine ranks Pa.'s business climate at No. 18
Pennsylvania made this year's list of the states with the best business climates, according to Site Selection magazine.
The commonwealth came in at No. 18 after failing to make the 25-spot index last year.
Half of the ranking is based on a survey of corporate site selectors, which put Pennsylvania at No. 19.
The other half is based on the states’ competitiveness rank as published in the May issue, qualified projects so far in 2013 and on a per capita basis, and state tax burdens on new and mature firms as compiled by the Tax Foundation and KPMG Location Matters analysis.
Pennsylvania was No. 12 on the competitive ranking, but its tax index rankings were at the bottom.
Qualified projects means a new or expanded commercial facility of at least $1 million investment, creation of 50 or more new jobs or a minimum of 20,000 square feet of new space, according to Site Selection.
Georgia, North Carolina and Texas topped this year’s list.
The Tax Foundation, in its own business tax climate report, had Pennsylvania at No. 24.