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The best US states to do business in 2022

The best US states to do business in 2022

Table of content

North Carolina, Washington, Virginia, Colorado and Texas are the five best states to do business, why? What are your indicators of success?

Many Latin American entrepreneurs have expanded their businesses and set foot on American soil in order to promote or found a company that is capable of competing in the richest country in the world and, consequently, with the most dynamic and open market for investors on the planet: the United States.

Such is the case of Jorge Pérez, founder of the Related Group, who currently has a fortune of US$1.7 billion according to Forbes, or Jorge Mas, one of the most prominent Cuban-American businessmen on the real estate scene in the United States, co-founder of MasTec, Inc., who According to Forbes, he has a fortune of US $1,200 million, ranking 2,448 among the world's billionaires.

(About these and other success stories of Latino entrepreneurs in the US, we wrote a blog: "The American Dream": 5 successful Latino entrepreneurs in the United States).

Now, one of the most frequently asked questions among entrepreneurs when doing business in the United States is: In which state should I found my organization?There are several indicators that could give lights and from PRODEZK We have talked about several: the fiscal climate indicator in the USA In which state is it cheaper to pay taxes?, advice on internationalization 8 tips so that your company does not fail in the internationalization attempt, in which states is it where more companies are created.

In this post we will talk about the best states in the United States to do business in 2022 according to the important chain of news, business and coverage of the financial market in real time: CNBC, who rated all 50 states on 88 metrics in 10 broad categories of competitiveness: personal; infrastructure; cost of doing business; economy; life, health and inclusion; technology and innovation; business friendliness; education; access to capital and cost of living.

"Each category is run based on how often states use them as a selling point in economic development marketing materials," the entity says, adding, "that's how our study ranks states according to the attributes they use to sell themselves”.

Here are the top 10 ranked states based on the report and some ratings:

These are just some of the most important indicators that the study took as an evaluative premise to develop this ranking. Now we will take a look at the three states that the report says are the best for internationalizing business in the United States and why?

1. North Carolina

Roy Cooper, the current Governor of North Carolina, has been instrumental in the exponential growth of the state, one of the causes being his ability to unite North Carolina on the political and economic front. An example of this is the agreement that was signed in March 2022 with the Vietnamese manufacturer of electric vehicles VinFast to build a $2 billion factory in the state.

There are other important indicators for this state to have ranked first on the list: a population of 10,551,162 inhabitants; GDP growth in the first three months of 2022 corresponding to -1.4%, an unemployment rate for May 2022 of 3.4%; a maximum corporate tax rate of 2.5%; a maximum personal income tax rate of 4.99%; and a gas tax: 38.75 cents per gallon.

2. Washington

The political capital of the country ranked second thanks, says the report, to the fact that it has a population of 7,738,692; GDP growth (Q1 2022): -3.3%; an unemployment rate for May 2022 of 3.9%; it does not impose any maximum corporate tax rate, that is, it imposes a tax on gross receipts; does not impose any individual income tax (has added a 7% capital gains tax on gains in excess of $250,000 per individual or married couple from the sale of capital assets such as stocks and bonds. Currently contested in the tribunals); and a gas tax of 49.40 cents per gallon.

3. Virginia

With a population of 8,642,274 inhabitants, Virginia closes the top three as a result of its excellent management with local and international businessmen. Its GDP growth for the first three months of 2022 was -1.7%; an unemployment rate (May 2022): 3.0%; a top corporate tax rate of 6%; a top personal income tax rate of 5.75% and a gas tax of 34.40 cents per gallon.

These three states present themselves as prosperous places to start doing business in the United States. PRODEZK will help you not only open your business in these states, but we also help you build strong business ties with the largest market in the world.

Diego Prieto
Press Officer

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