Anyone seeking a Nevada job or looking to start a business in the state will have better luck than those in California.
A recent report from Whittaker Associates, Inc. found that Nevada is a better place than California for businesses and workers, because of everything from its friendlier tax climate to its strong entrepreneurial stance.
“This study was a large undertaking that ultimately illustrated some pertinent points in comparing California to Nevada,” Dean Whittaker, founder of Whittaker Associates, said. “It really showed us that Nevada is a great place to start and run a business. This information can be used to help recruit businesses and ultimately improve the unemployment rate.”
The Nevada Commission on Economic Development hired Whittaker Associates to conduct the study in order to ensure that third-person credibility from an out-of-state agency would prevail.
The report found that Nevada has one of the best business tax climates in the nation, ranking fourth among all states, compared to California’s 48th ranking. The state ranks third for its corporate tax structure, compared to California’s ranking of 34th.
“Companies interested in doing business in Nevada can be assured that our state has the tax structure designed to remove barriers and help companies achieve success,” Brian Krolicki, who serves as Nevada’s lieutenant governor and NCED chairman, said.
“Our state has a strong workforce that is fully capable of handling most staffing needs,” he added. “We can offer new and existing companies in Nevada the resources and incentives needed to train their workforces throughout the state.”
The Small Business & Entrepreneurship Council ranked Nevada second for its friendly policy environment for entrepreneurship, as it has no state income or capital-gains tax. Meanwhile, California was ranked 49th and has the highest top personal income tax rate in the nation, at 10.3 percent.
On its list of America’s Top States for Business Survey, CNBC ranked Nevada 18th and California 23rd. That report measured a number of different variables, including education level, availability of workers, union members and effectiveness of worker training programs.
In addition, Las Vegas was ranked 11th among the top 200 metro areas on Forbes Magazine’s Best Places for Business and Careers in 2009. That report found Las Vegas to have one of the best job growth prospects in the country, while San Francisco was ranked 118th and Los Angeles was ranked 153rd.
NCED commissioned the report, as it has been pursuing out-of-state opportunities during the economic downturn, and believes this information will help recruit businesses and provide jobs in the state. The organization hopes to entice companies in a variety of industries to relocate to Nevada, including those in renewable energies, manufacturing and technology.
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