ITRA Global News

ITRA Global Top 10 Pro-Business States Curb Decline of Middle Class & Foster Economic Growth

July 23, 2013

Ronald_Pollina“Americans have noticed that while costs have risen, incomes have not. In reality, the cost of living has risen by approximately 33 percent from 2000 to 2012 while median family income for the same period has decreased by approximately 7.2 percent,” says Dr. Ronald Pollina, President of ITRA Global Chicago / Pollina Corporate Real Estate, Inc., in the just-released Pollina Corporate Top 10 Pro-Business States for 2013. The study is co-published with the American Economic Development Institute.

“American families increasingly find their standard of living is not improving, their incomes are not rising and they are sliding increasingly into debt. Meanwhile, the economic policy of most states and the federal government continually throws roadblocks at hard-working people. How long will the American middle class remain the majority,” Dr. Pollina asks.

The Pollina Corporate annual 50-state ranking indicates how well each state has or has not positioned itself to retain and create jobs as well as sustain America’s middle class. Now in its tenth edition, the study has also become an important tool for corporations to evaluate their current and future U.S. locations.

One state stands above all others. Brent Pollina, Vice President of Park Ridge, Illinois-based Pollina Corporate Real Estate and co-author of the 2013 study, says Utah is “America’s most pro-business state for the second consecutive year and again making it the brightest star on the American Flag. Utah is a symbol of economic growth and prosperity that other states should emulate. It has certainly been on an express train ride rising in 2005 from a rank of #23 to #2 in 2009, maintaining that position through 2011, and then pushing Virginia aside to take the #1 position in 2012 and again in 2013.”

The Pollina Corporate Top 10 Pro-Business States for 2013 are: 1) Utah 2) Nebraska 3) North Dakota 4) Virginia 5) Wyoming 6) Kansas 7) Indiana 8) South Dakota 9) Missouri and 10) Alabama.

The study, considered the most comprehensive, unbiased and unvarnished by the economic development industry, is the “Gold Standard” for evaluating and ranking states based on 32 factors controlled by state government, including taxes, human resources, education, right-to-work legislation, energy costs, infrastructure spending, workers compensation laws, economic incentive programs and state economic development efforts.

The states suffering the greatest drop in the study—Hawaii and Colorado—also deserve special attention so their leadership can modify their economic strategy in order to keep pace with their peers.

ITRA Global is an organization of Real Estate Professionals specializing in representing tenants and buyers in the leasing, acquisition and disposition of office, industrial and retail real estate. ITRA Global is one of the largest organizations in the world dedicated to representing corporate tenants and occupiers of commercial real estate in major markets across the globe.

For more information contact: Brent Pollina, Pollina Corporate Real Estate at 1.847.685.9000 ext. 228.

 

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