RALEIGH – Economic development leaders in Raleigh and Wake County have another “No. 1” ranking to use in its recruiting efforts to lure more business and people to town: It’s the No. 1 city in the US for the “ease of doing business.”
So says Arizona State University in its second such annual report.
The NC capital and the Triangle often rank among the “best” rankings for everything from business opportunity to quality of life and the tech jobs environment.
Addiing some pizazz to the new list: Raleigh’s rival cities Charlotte and Austin, Texas, came in much worse at No. 38 and No. 42 respectively.
The rank is based on a combination of six different criteria:
- Starting a Business
- Employing Workers
- Getting Electricity
- Land and Space Use
- Paying Taxes
- Resolving Insolvency
How were the scores determined?
“The Ease of Doing Business Score is derived from a summation of the scores awarded in each of the six categories measured by this report,” the study’s authors report.
“The Ease of Doing Business Score focuses on the regulatory burdens a small- to medium-sized business would face from the birth of the business to the death of the business in cities across North America.”
To achieve that No. 1 ranking, Raleigh had to overcome one bad score.
The city only ranked 82nd for “starting a business.”
However, Raleigh scored first in “employing workers” and “resolving insolvency.”
Next best rank was No. 8 in “paying taxes.”
Raleigh ranked No. 9 in “land and space use.”
In “getting electricity,” the city scored ninth.