Tennessee ranks third best state for business

The state of Tennessee is ranked third best state for business in the nation, according to Chief Executive’s annual CEO survey. Manufacturing, tech, and the electric vehicle industry are the top sectors for the state. Tennessee earned its ranking for its low unemployment rate and its low corporate income tax at 6.5%. The state ranked No. 14 on the Tax Foundation’s State Business Tax Climate Index ranking an No. 29 on quality of life. The state also earned good marks for the ten Fortune 500 companies headquartered in Tennessee. Texas earned the top state ranking followed by Florida.