Best States To Have A Business: Where Georgia Ranks

Many factors go into determining the prosperity of a business, but each state and the groundwork it lays for potential business owners also play a big role in making or breaking a business’s chance for success.

According to a new list released by 24/7 Wall St., Georgia is among the best for businesses. Overall, Georgia ranks 22.

When looking at which states are best for business, factors such as regional policy, tax codes and availability of skilled workers come into play.

Georgia ranks among the top 10 states in the economy component of our index, thanks to rapidly falling unemployment and relatively strong growth in the number of businesses in the state. The state does not rank as well in measures of quality of life. Georgia has a relatively low concentration of arts, entertainment, and recreation centers, and also has the third-worst rate of health insurance coverage in the country.

24/7 Wall St. also took into account the following factors in determining Georgia’s ranking:

• Real GDP change over one year: +2.4% (24th worst)
• Average earnings per job: $56,843 (22nd highest)
• Adults with a bachelor’s degree: 31.9% (20th highest)
• 2018 venture capital deals: 1.1 per 100,000 people (23rd fewest)

To compile this year’s list of best states for business, 24/7 Wall St. created a weighted index of 42 measures to identify the best and worst states for business. These measures fall into one of eight categories: economic conditions, business costs, state infrastructure, the availability and skill level of the workforce, quality of life, regulations, technology and innovation, and cost of living.

Data sources include the Bureau of Economic Analysis, the Bureau of Labor Statistics, and the Tax Foundation, a tax policy research organization.

Four of the top five best states for business are located west of the Mississippi River. With its well-educated workforce and a high concentration of innovative startups, Massachusetts ranks as the best state for business.

The top five best states for business are:

1. Massachusetts
2. Utah
3. Colorado
4. Washington
5. North Dakota

Read more about the methodology behind the best states for business report.