A new U.S. Chamber of Commerce study ranks Tennessee third among all states for its low business taxes and minimal red tape.
A new U.S. Chamber of Commerce study ranks Tennessee third among all states for its low business taxes and minimal red tape — a corporate-friendly combination that an author of the report says helped the state see a net gain of 260,000 residents since 2001.
“Americans are voting with their feet and they’re choosing Tennessee,” said Mark Schill, an associate with Praxis Strategy Group, which worked on the chamber’s economic development study of how state policies can affect job creation.
The U.S. Chamber shared details of its report at a two-hour roundtable staged at Nissan North America’s headquarters in Franklin on Monday, an event that featured a dozen or more corporate executives critiquing economic policy here.
Gov. Phil Bredesen took part and heard a litany of praise from executives representing Eastman Chemical, Nissan North America, DuPont, Hemlock Semiconductor and others.
“For us, the very pro-business environment in the state is a major reason we’re here,” said Scott Becker, Nissan’s senior vice president of administration and finance. Becker said Nissan’s decision to move its North American headquarters to Tennessee from California within the past decade was driven by the low-tax landscape here as well as a desire to set up shop closer to the car maker’s U.S. dealers along the East Coast and suppliers in the Southeast.
Click here to read the full article.
Source: The Tennessean