In this week's IBJ there is a summary of a report from the Washington, D.C.-based Tax Foundation which said there are only 11 states which take a smaller share from businesses for Taxes than Indiana. In its "2007 State Business Tax Climate Index" report released Oct. 11, the Tax Foundation ranked Indiana 12th overall in the nation for its business tax climate.
"Labor and capital are more mobile than ever," said Chris Atkins, co-author of the Tax Foundation's report. "In the global competition for jobs, no state can afford to be saddled with a tax system that unduly punishes new business investment."
This is good news for the Indiana economy! While some of our neighbors, particularly Ohio have raised taxes, or business friendly tax base makes it easier for small companies, to start, thrive and grow!
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Indiana is ahead of about 40 other states. It appears our government leaders 'get it' when it comes to encouraging businesses to make Indiana the place to be. Of course, if the mayors of Greenwood and Franklin pursue their idea of local taxes (See Thursday, Oct. 19...Tax Business - Bad Idea! Below), there will be 2 very empty spots on the south side of Indianapolis!
On the flip side, Carmel's mayor really seems to get it. While some may say he is too agressive, and the road construction makes moving through the community in a straight line impossible, the busienss community is growing.
Carmel is becoming a vibrant, and interesting business community on it's own. I hope Franklin and Greenwood will wake up and follow his lead - make it easy to do business and more business will come. Expand the tax base through growth!
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