Business Friendly States: Wisconsin in Profile
Business looking to locate their company will look at several factors before making a final decision. Each state has its own positive attributes that make it appealing, however when you start comparing Wisconsin to the other states in the country, you will see why so many businesses are making the decision to open their headquarters here.
Tax Incentives in Wisconsin
The top corporate tax rate in Wisconsin is lower than states such as Hawaii, Massachusetts, and Indiana. That means that taxes will take up less of your company's overhead in Wisconsin than many other states. The individual personal tax rate is also competitive, making it easier for your company to retain employees.
Investment in Business
In 2011, Wisconsin put up billboards and aired commercials that told the rest of the country that the state was "open for business." That campaign has been successful at bringing in educated workers and more business. To go along with the campaign, Wisconsin has increased its investment in businesses and that has significantly raised the access to capital that businesses have from the state and from lenders.
Wisconsin has also improved its state bond rating to Aa2, according to Moody's. This has helped the state to raise capital for projects to improve infrastructure and bolster the construction industry. This was just the beginning of Wisconsin's investment in business and it has helped to lay the foundation for financial success throughout the state.
The Business Climate in Wisconsin
The state of Wisconsin has enjoyed steady growth in its state GDP as well as the quality of life. Wisconsin rates in the top 15 for quality of life and it has been steadily moving up the rankings for years. This rating is based on the cost of goods, the cost of services, the crime rate, and the availability of employment. It is the kind of rating that shows how successful the state has been at bringing in new business and helping that business to retain its employees.
Wisconsin has also remained in the top 15 for education and technological innovation. When you base your business in Wisconsin, you will have access to an educated and experienced workforce. You will also be able to take advantage of innovations in power distribution and other infrastructure upgrades that will make it easier for your company to do business. Business costs in Wisconsin have been dropping for years and sit at less than a percentage point above the national average.
Working and Living in Wisconsin
A business is made up of employees and employees often go where they feel their families can be happy. The cost of living in Wisconsin has been steadily dropping, along with the crime rate and unemployment. The Midwestern climate and the reputation the people have for being friendly has helped to attract people from all over the country.
Wisconsin has been improving its educational systems and working on offering businesses a more educated workforce. The state is also interested in enticing technology companies to set up shop by helping to make it easier for lenders to do business with technology start-ups.
The business climate is perfect in Wisconsin for your company to succeed and with more highly trained and educated people coming to Wisconsin every year, your company will be able to find the location it needs and the personnel necessary to become successful.
Speak to an advisor from Wisconsin's business development organization to find out more about how locating your business in the state could be of benefit to your organization.