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(PRWEB) September 20, 2013 — We at Commercial Real Estate Group of Tucson are happy that Arizona made it out of the bottom half of states that are friendly to business. Arizona ranked 21st in the 2013 Pro-Business 50-State Rankings, co-published by Pollina Corporate Real Estate Inc with the American Economic Development Institute. Unfortunately, this means 20 states are more pro-business than Arizona. That puts us in the middle of the pack, average compared to our 2004 ranking of 15th.
In addition to the 50-state rankings, the study releases state report cards. Recognized as the gold standard of state evaluation, the study examines 32 factors relative to state efforts to be pro-business. Arizona received an overall grade of ‘C,’ down from last year’s ‘B.’
Arizona’s Report Card
• Unemployment Insurance
• Property Tax
• Business Inventory Tax
• State Budget Deficit
• Workers Compensation
• Individual Tax Index
• Litigation Environment
• Comprehensive Tax – Mature Firms
• Corporate Tax Index
• Transportation Infrastructure
• Cost of Electricity
• College Completion
• Average Teachers Compensation
• Marketing/Website/Response to new and existing employers
• Comprehensive Tax – New Firms
• Unemployment Rate
• Crime Rate Grade
• High School Completion
• Sales & Gross Receipt Tax
Why This Matters
Nationally, corporate site selectors look at all of these factors when considering where to make commercial real estate leases or investments for their companies. Site selectors may not take a look at an average state like Arizona, which means lost opportunity for business development and job growth.
Regionally, the 2013 report shows that only one other state from our region ranks better than Arizona: Utah, at 1st. Nevada, California, New Mexico and Texas all currently lag behind Arizona; corporations and businesses who want to locate in the West will look at Utah and Arizona before they consider the others. Clearly, Arizona needs to improve on many fronts in order to stay in the game.
As a member of the International Tenant Representative Alliance, Commercial Real Estate Group of Tucson specializes in representing tenants and corporate users across the United States, Latin America, Europe and Asia. For more information call 520-299-3400 or visit www.cretucson.com.