Site Selection magazine has ranked Kentucky No. 8 in the nation in its 2007 Annual Business Climate Rankings. It is the third consecutive year in which Site Selection, an international publication devoted to economic development, has placed Kentucky in its top 10.
The business climate ranking is the latest in a series of economic development awards for Kentucky. Kentucky’s workforce training programs were recently ranked No. 5 in the nation by Expansion Management magazine, and the commonwealth placed sixth in Site Selection’s Annual Competitiveness Award.
The business climate ranking reflects a combination of performance factors related to business expansion, including Kentucky’s ranking in 2006, its ranking over a three-year period, rank per million population and rank per 1,000 square miles.
In addition to expansion activity, equal weight is given to a state’s overall rank based on the results of a survey of corporate real estate executives, in which they were asked to rank their top 10 states according to ease of doing business, overall business costs and related factors. Kentucky placed tenth in the executive survey.
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