Companies may not be moving, but they are planning. Businesses often take up to three years to consider locations, evaluate what each has to offer and make a decision. How states handle current budget challenges is being watched closely. The outcomes will prove telling to companies considering another state.
When companies do relocate, they’re going to move to states that can manage their budgets. They will look to minimize future state budget uncertainties. The state of Idaho as an example balanced its budget without a tax increase – and it didn’t take them forever to do it. The state of Washington is getting its budget balanced while looking for tax cuts, so it isn’t going to be a burden for the business community. Companies are going to look for states that can do that. Learn more about relocation decision factors in this interview.
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