USA Economic Climate Ranking

CNBC have been publishing their economic climate ranking of all 50 states of the USA for eleven years. Now they issued their new ranking for 2017. Workforce and infrastructure are at the top of the list among 10 major categories and 66 metrics used in crowning the Top State for Business 2017. Key messages this year: (1) The skills gap across the labor market is big and getting bigger. (2) As President Trump talks up a $1 trillion infrastructure plan, states are talking more about the strength of their roads, rails, ports and utilities.

Check out the 2017 data table, sortable for all criteria, a chart and maps at CNBC Top States for Business.

Their overall ranking lists the following eight on top:

  • Washington
  • Georgia
  • Minnesota
  • Texas
  • North Carolina
  • Colorado
  • Virginia
  • Utah

Interesting enough: only one of their top eight business climate states is also a top eight GDP state, and thus listed among our G8x8. Try to find out which one it is!

Info and image source: CNBC

Texas Tops US Exports

Texas has been the top exporting state in the USA for 14 consecutive years. With over $251 billion in exports for 2015, this state continues to be the USA leader in international trade. It combines the following advantages:

  • a strategic location
  • the largest US rail and road infrastructure
  • the most US ports of entry
  • a multilingual workforce twice the national average
  • a vibrant international banking center
  • a diplomatic hub with a Consular Corps representing some 90 nations
  • and a concentration of corporate and financial resources

Many international firms base facilities such as warehousing, distribution, and manufacturing here to take advantage of excellent access to global markets.

From Texas, small, medium, and large businesses alike have found great success in doing business globally. Far from being the exclusive domain of large corporations, export trade here is driven by its most innovate, nimble, and oftentimes small firms. In fact, more than 90 percent of exporters are small businesses – and their numbers continue to grow. With its extensive global ties, Texas has a natural advantage in exporting knowledge-intensive services. It has become a major global exporter of high value-added services, including

  • accounting
  • communications
  • consulting
  • engineering
  • financial services
  • legal services
  • medical services
  • transportation services

With the slogan “Go Big in Texas”, the Department of Business Assistance (DBA) serves businesses and communities. It works to strengthen their competitiveness by promoting international trade, foreign direct investment, business retention and expansion. It also provides small business advocacy and entrepreneurial support. See their website at https://businessintexas.com/. For an overview of Texas trade and foreign direct investment, see especially this 2016 Report.

Image source: Texas Department of Business Assistance.

In terms of GDP, Texas ranks 2nd in the USA after California, contributing 8.8 percent to the national GDP of the United States. The “Lone Star State” occupies the 1×2 field of the G8x8 chess board. 2016 GDP stood at $1,616.8 billion, which was more than the national GDP of Canada or Russia.

 

Florida Evacuates Seven Cities

According to the Florida Department of Emergency Management, Governor Rick Scott ordered an estimated 6.3 million Floridians to evacuate in preparation for Hurricane Irma. The governor ordered mandatory evacuations in the cities surrounding the southern half of Lake Okeechobee from Lake Port to Canal Point in Hendry, Palm Beach and Glades counties. He made this decision due to his focus on life safety as the hurricane approached. The seven cities affected by these orders are as follows:

  • South Bay
  • Lake Harbor
  • Pahokee
  • Moore Haven
  • Clewiston
  • Belle Glade
  • Canal Point

The National Hurricane Center re-classified Irma as a category 4 cyclone before it reached the Everglade State. Category 4 is the second highest on the Saffir-Simpson scale and includes maximum sustained winds of 200 to 250 km per hour. Irma had the strength of category 5 twice before. It is the only tropical cyclone on record with sustained winds of 295 km per hour for 37 hours.

Source and more information at http://www.flgov.com/. Image source: ABC News.

Florida ranks 4th in GDP among US states and is thus located on the 1×4 field of the G8x8 chess board. The state’s 2016 GDP amounted to $ 926.8 billion. This was 5.0 percent of the USA total, and more than the national production of countries such as Saudi Arabia, the Netherlands, or Turkey.

 

California Business Portal

The official California website promoting international trade and investment is found at http://www.businessportal.ca.gov. Their address is

1325 J St., Suite 1800
Sacramento, CA 95814

And their telephone: +1 877 345-4633

California ranks first in GDP among US states, placing it at the 1×1 pole position within the G8x8 territories. In 2016, California took a share of 14.1% of the USA total GDP. This was worth $2,602,672 million or 2.6 trillion US Dollars, just as much as the GDP of the United Kingdom (ranking 5th among countries).

 

New York Promotes Guangxi

The Greater New York Chamber of Commerce will hold an investment and trade promotion event for Guangxi province of China on 25 October 2017. Participation is free for members, non-members will be charged $25. Contact +1 212-686-7220 or info@chamber.nyc for more information and to register, or see their event announcement here.

The event is promoted by the Guangxi provincial department of commerce.

A similar event was hosted by the Greater New York Chamber in October 2015. At that time, the Guangxi delegation included six governmental delegates, six economic and trade delegates, and five delegates from the Chinese Consulate General in New York. They spoke about investment opportunities in Guangxi.

Information and image source: Greater New York Chamber of Commerce.

The State of New York ranks third among US states in GDP, placing it on the 1×3 field of the global G8x8 chess board of most productive territories of the most productive countries. In 2016, the state contributed 8.1 percent to the national GDP. This was an amount of $1,488 billion, almost as much as all of Canada produced at the same time. Guangxi Autonomous Region, on the other hand, ranks only 17th among Chinese provinces and is not yet listed a G8x8 member.

 

California – Osaka Partnership

Governor Edmund G. Brown Jr. met with Osaka Governor Ichiro Matsui in Sacramento, to sign a memorandum of understanding to further strengthen California’s relationship with its sister-state in Japan. The leaders discussed trade, investment, tourism and education and cultural exchanges between California and Osaka Prefecture. They also shared their commitment to combating climate change. Full text:

Memorandum of Understanding On Friendly Exchanges and Cooperation Between The State of California, United States of America And Osaka Prefecture, Japan

At the invitation of Mr. Edmund G. Brown Jr., Governor of California, Mr. Ichiro Matsui, Governor of Osaka Prefecture, led an official delegation to visit Sacramento, California on June 11, 2013. During this visit, Governor Matsui and Governor Brown held friendly talks and reviewed the cooperation between the two sides since the establishment of the sister-state relationship in 1994. Both agreed that Osaka Prefecture and California are economically complementary and that there exists significant potential to advance and strengthen economic and social ties.

California has the highest Gross State Product in the United States of America and is the ninth largest economy in the world. Osaka Prefecture has a population of 8.8 million and is the 29th largest economy in the world. Accordingly, both governments agree:

  1. To support and encourage economic and trade cooperation between California and Osaka Prefecture in the following key areas:
    • clean energy
    • environmental protection
    • information technology
    • bio-tech
    • manufacturing
    • tourism
  2. To support and encourage cooperation on reducing greenhouse gas emissions and promoting low carbon development.
  3. To support and encourage their people and governments to further develop interpersonal contacts and exchanges, and to promote mutual understanding and friendship.
  4. To promote exchange programs between universities and other educational institutions.
  5. That California will designate the Governor’s Office of Business and Economic Development and that Osaka Prefecture will designate the International Affairs Division to coordinate trade and investment relations between Osaka Prefecture and California.

This Memorandum of Understanding was signed in Sacramento on June 11th, 2013 in the languages of English and Japanese in duplicate, each party holding one; both texts being equally authentic.

Information Source and Photo Credit: Justin Short, Office of the Governor.

California and Osaka are both G8x8 territories. The former is ranking first in GDP among US states, placing it at the 1×1 pole position. Osaka ranks second among Japanese prefectures to take the 3×2 field on the board. In 2016, California took a share of 14.1% of the USA total GDP. This was worth $2.6 trillion US Dollars, just as much as the GDP of the United Kingdom (ranking 5th among countries). Osaka posted a GDP share of 7.3 percent of Japan’s national total.