Consultants hired last week to help Kentucky's Blue Ribbon Commission on tax reform stressed the importance of tax policies and business climates in surrounding states. A new rating released today by Chief Executive Magazine places Tennessee and Indiana in the top five states, in terms of having business-friendly climates.
Dr. William Hoyt of the University of Kentucky is the lead investigator hired late last week by the Blue Ribbon Commission. He stressed that the Commonwealth must be aware of the tax policies in surrounding states. Chief Executive Magazine's most recent rating of states that are good for business underscores part of the challenge Kentucky could face. According to the rating compiled by the publication, the top five states are Texas, Florida, North Carolina, Tennessee, and Indiana.
The Commissioner of the Department of Economic and Community Development in the Volunteer State says Tennessee is working continuously to create and maintain an environment that encourages companies to grow and invest.