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Is Your State Business-Friendly?

So, I had a free minute over the weekend and I started catching up on the backlog of Inc. magazines I have lying around. Funny thing, while I never really paid attention to it when I looked through each month’s issue independently, I noticed a trend when speed-reading through 5 or 6 issues at a time.

States are hard up for your business!

There is at least a 5-page spread in each issue from some state soliciting you to move your [fill in the blank] company to their area. Offers of tax incentives and tax abatements along with a great work force and a fantastic place to raise the kiddies made up most of the ad copy from these cries for help.

So it got me thinking….

What is your state willing to do for you to KEEP your business? Now, I realize you probably aren’t going to pick up the kids, load up the family truckster and move to New Jersey, but it would definitely be worth a few hours of your time to find out exactly what your state is offering businesses in the way of incentives or some other type of help during this down economy.

If you are not sure where to start, you might as well see what some of the better places are offering companies so you have something to compare your to.

http://www.mainstreet.com

http://www.cnbc.com

This site will help you figure out how tax friendly your state is compared to others near you:

http://www.taxfoundation.org/

What to do next

Talk to your accountant or lawyer and ask them what is available and what your business qualifies for. Next, check out your local chapter of SCORE. They should be able to help you get started locally.

If you find something particularly juicy, let us all know, you may get some new neighbors!