New Study Shows Nevada Offers Prime Home for Businesses and Workers

CARSON CITY, Nev., Feb. 2 /PRNewswire/ -- Nevada ranks higher than California in several categories, ranging from its friendlier tax climate to its strong entrepreneurial stance, making it a premier choice for businesses and workers, according to a recent report released by Michigan-based economic research firm Whittaker Associates, Inc.

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Among some of the most significant findings, Nevada shows it is a leader in supporting new businesses, with one of the best business tax climates in the nation and ranking fourth among the 50 states. Nevada also ranks third in terms of its favorable corporate tax structure. California ranks 48th and 34th, respectively, in these same categories. These findings are significant as the Obama administration has emphasized entrepreneurship and made it a focus for restructuring the economy to create jobs.

"This study was a large undertaking that ultimately illustrated some pertinent points in comparing California to Nevada," said Dean Whittaker, founder of Whittaker Associates. "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 recently commissioned Whittaker Associates to conduct the study to ensure that third-person credibility from an out-of-state agency prevailed. The NCED has been aggressively pursuing out-of-state opportunities during these challenged economic times and believes this type of information will help recruit businesses and provide jobs in the state.

Among other findings are that with no state income and capital-gains tax, Nevada is ranked second by the Small Business & Entrepreneurship Council for its friendly policy environment for entrepreneurship. California, on the other hand, ranks 49th. And while Nevada does not charge any state personal income tax, California has the highest top personal income tax rate in the nation at 10.3 percent.

Nevada is also one of the nation's top states for business in 2009. According to CNBC's America's Top States for Business Survey, Nevada ranks 18th in a workforce index, while California ranks 23rd. CNBC measured a number of different variables to measure workforce including education level, availability or workers, union members and effectiveness of workers training programs.

"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," said Nevada's Lt. Gov. Brian Krolicki, chairman of the Nevada Commission on Economic Development.

According to Forbes Magazine's ranking for Best Places for Business and Careers in 2009, Las Vegas has one of the best job growth prospects in the nation and is ranked 11th among the top 200 metro areas. San Francisco and Los Angeles are ranked 118th and 153rd, respectively.

"Our state has a strong workforce that is fully capable of handling most staffing needs," said Krolicki. "We can offer new and existing companies in Nevada the resources and incentives needed to train their workforces throughout the state."

Among the industries on the top of the NCED list to relocate to Nevada include those in renewable energies, manufacturing and technology, according to NCED Executive Director Mike Skaggs.  Attraction of these innovation-driven industries will make Nevada more attractive to companies looking to be at the forefront of the latest technological developments.  This will create the knowledge based jobs that Nevada needs for long term economic vitality.

About Whittaker Associates, Inc.

Michigan-based, Whittaker Associates, Inc. provides targeted company leads for the economic development, corporate and real estate sectors by providing the qualification of companies, company dossiers, predictive models, industry intelligence and lead tracking. Additional information can be accessed at www.whittakerassociates.com.

About the Nevada Commission on Economic Development

The Nevada Commission on Economic Development promotes a robust, diversified and prosperous economy based on innovation, human ingenuity and sustainability.  This is achieved through programs including national and international Business Development, Community Development Block Grants, Procurement Outreach and the Nevada Film Office.  NCED has offices at 108 East Proctor St. in Carson City and at 555 E. Washington Ave., Suite 5400 in Las Vegas.  More information can be accessed at www.expand2nevada.com or by calling 800-336-1600.

SOURCE Nevada Commission on Economic Development