Best State to Locate My Company and My Family
WHERE IS THE BEST STATE TO LOCATE MY COMPANY AND MY FAMILY?
Considering moving to a state that offers a good future? See below:
One way would be to see how much you could buy with $100 ( in terms of real buying power.)
Say you can buy 3% more with a dollar, and the cost of living is 6% lower, you are netting out 9% more for every 50,000 you make, that means it is equal to a $4,500 raise. But say, in Texas or California you must have a car to go everywhere, but in another state you can commute to work, that might be equal to $4,000 per year in transportation costs. What if you love to swim, you need an ocean or a lake view. Or you love mountains, New Mexico, Colorado, Wyoming, Colorado, New Hampshire, Vermont, California, Oregon, Washington all offer mountains.
Economic Considerations: Boothe Global Perspectives put together an approach that might help you. First, a chart showing how much buying power $100 gives you by state (above). Secondly, the unemployment rate, by state, which suggests which state have the most opportunity. And finally which states are creating the most new jobs these days.
Now we know that North Dakota, at 2.1% unemployment rate is booming in the oil and gas industry. An average “rough neck” can make $50,000 to $90,000 per year. But the work is dangerous, housing sometimes sparse, winter temperatures go well below zero, and the state is very small population wise, so if you aren’t an oil field worker, your opportunities might be limited and your wife might be unable to find a shopping mall or you may miss finding an “Apple Store”.
On the other hand, if you want to chill out, New Mexico is not bringing in many new jobs, the unemployment rate in mid-range, and its population is actually shrinking. The problem is that most of the jobs there are low wage jobs. Yet the weather is beautiful, the air clean, the views stunning, and Albuquerque and Santa Fe have a dynamic young spirit and a growing movie industry, which adds excitement.
If you live, say in Ohio, unemployment is high, cost of living moderately high and new job rate is poor. It looks like a poor choice, but you might find bargains in housing, and find a niche with some company that has lost quality workers. Take a look at the unemployment numbers of each state:
Texas, has the highest new job numbers, 46,000 new jobs in July, 2014, 60,000 in June 2014. Low unemployment. Hot summers in the high 90’s, low 100’s, political and cultural society very conservative, although there are pockets of progress in Austin, or around the major universities in Dallas, Fort Worth and Houston. But Texas has the best overall economic indicators as well as a low cost of living, all combine to make it look most attractive for long term growth and quality of life. Texans say that they make enough money to own a second home where the weather and views are better. And, yes, up to 30% of out of state second homeowners in Colorado and New Mexico are from Texas.
States adding the most new jobs:
OTHER CONSIDERATIONS:
These are 10 states where people have a high sense of “well being”. Some of these factors are not related to economics. Perhaps you love the mountains, or the ocean. Perhaps you like farming. Most of these states with high "well being" are not booming financially, with the exception of North Dakota. But the people in these states report other attractions.
IOWA:
• Well-being index score: 68.2
• Life expectancy: 79.7 years (16th highest)
• Percentage obese: 28.1% (tied-20th highest)
• Median household income: $50,957 (23rd highest)
• Percentage with high school diploma: 91.6% (8th highest)
Iowa residents were among the most likely in the nation to report having access to basic necessities in 2013. This included among the best scores for access to healthy food, health care and safe neighborhoods. More than 82% of residents felt safe walking alone at night, and 87% felt they had enough money for health care and medicine, both among the highest proportions nationwide. Iowans were in relatively good physical health, with 77% of residents saying their health did not prevent them from going about their daily lives, more than those in any other state except for North Dakota and Nebraska. Working conditions were also quite good, with more than 90% of residents reporting they were satisfied with their jobs last year.
WASHINGTON:
• Well-being index score: 68.3
• Life expectancy: 79.9 years (13th highest)
• Percentage obese: 25% (18th lowest)
• Median household income: $57,573 (12th highest)
• Percentage with high school diploma: 90.4% (tied-15th highest)
Washington residents had some of the nation's best outlook for their future. They were also among the happiest Americans at work. Washington's relatively strong economy likely helped to boost residents' opinions about their future and their work. The state's economy grew by 3.6% in 2012, outpacing the rest of the nation. Economic confidence, too, was among the highest in Washington when compared with the rest of the USA. Respondents from the state were especially likely to indicate they practiced healthy behavior. Nearly 62% said their regular diet included fruits and vegetables, and nearly 83% said they did not smoke, both among the highest proportions of any state.
HAWAII:
• Well-being index score: 68.4
• Life expectancy: 81.3 years (the highest)
• Percentage obese: 23.7% (9th lowest)
• Median household income: $66,259 (5th highest)
• Percentage with high school diploma: 90.4% (tied-15th highest)
Hawaiians were more likely than most Americans to practice healthy behaviors. More than 62% of residents in the state exercised regularly last year, more than in any state except for Vermont. Also, 59.6% of residents regularly ate fruits and vegetables, higher than a majority of states. Residents were among the most emotionally healthy Americans, leading the nation in the percentage of respondents who smiled or laughed, or learned something new within the last day. While more than a dozen states ranked higher in physical health, life expectancy at birth in Hawaii was 81.3 years as of 2010, the highest in the nation. Incomes in Hawaii were largely higher than the rest of the USA, and the state's 4.5% unemployment rate in December was among the nation's lowest. However, many Hawaiians were unhappy with their work environment. Just 47.8% of respondents felt treated like a partner at work, the second-worst rate in the USA.
COLORADO:
• Well-being index score: 68.9
• Life expectancy: 80 years (11th highest)
• Percentage obese: 20.4% (2nd lowest)
• Median household income: $56,765 (14th highest)
• Percentage with high school diploma: 90.6% (12th highest)
Physical health was among the most important factors contributing to Colorado's high well-being score. Colorado had the second lowest obesity rate in the nation in 2013. Additionally, just 7% of the state's population had been diagnosed with diabetes as of last year, less than in any other state. State residents were also among the least likely to have had a heart attack. The high marks for good health may have something to do with the population's healthy behaviors. Less than 18% of Colorado residents smoked last year, and almost 60% exercised regularly, both among the best marks in the nation. Respondents from the state were also generally upbeat about their future, giving strong evaluations of both their present lives and their expectations for the next five years.
VERMONT:
• Well-being index score: 69.1
• Life expectancy: 80.5 years (5th highest)
• Percentage obese: 24.8% (12th lowest)
• Median household income: $52,977 (20th highest)
• Percentage with high school diploma: 91.7% (tied-5th highest)
Nowhere in the USA were residents more likely to practice healthy behaviors than in Vermont. Almost 72% of respondents in the state ate healthfully all day within the past day, and more than 65% of residents stated they exercised regularly — both higher than any other state. Additionally, 67.8% of residents had eaten five servings of fruits and vegetables at least four times a week, also more than any other state. Unsurprisingly, Vermont residents surveyed were among the most likely to report being physically healthy. As for the state's labor market, despite slow economic growth in 2012, the state's unemployment rate was just 4.2% last December, among the lowest in the USA. Residents were also more likely than most Americans to enjoy the environment in which they worked. Nearly 92% of adults age 25 and up had a high school diploma in 2012, among the top figures nationwide.
MONTANA:
• Well-being index score: 69.3
• Life expectancy: 78.5 years (21st lowest)
• Percent obese: 19.6% (the lowest)
• Median household income: $45,076 (12th lowest)
• Percentage with high school diploma: 92.8% (the highest)
Economic confidence in Montana was exceptionally bad in 2013, among the 10 worst states. Despite that, residents gave high ratings to their work environment. Nearly 94% of adults said they were satisfied with their job, the highest percentage nationally. This was likely due, in part, to feeling fully utilized at work — 89% of respondents said they used their strengths during the work day, more than all but one other state. Montana residents also practiced healthy behavior more than residents of most other states. A majority of the population reported healthy eating habits, weekly exercise routines, and lower-than-average smoking rates in 2013. Montana residents were also the least likely to be obese last year.
MINNESOTA:
• Well-being index score: 69.7
• Life expectancy: 81.1 years (2nd highest)
• Percentage obese: 22.0% (4th lowest)
• Median household income: $58,906 (9th highest)
• Percentage with high school diploma: 92.5% (2nd highest)
Minnesotans reported exceptional physical health in 2013. More than 81% of respondents were able to partake in age-appropriate activities, tied for the highest percentage in the USA. Residents were also among the least likely Americans to report being obese. No state had fewer heart disease-related deaths per 100,000 residents than Minnesota in 2010. People surveyed in the state were also exceptionally likely to report having basic access to critical necessities, including medicine, and fruits and vegetables. Residents were also among the most likely Americans to report they had adequate money for food, shelter and health care. Minnesota's median income of $58,906 in 2012 was one of the highest in the USA. Also, 92.5% of adults 25 and over had a high school diploma — among the best in the nation. The state's economy, too, grew at a rapid 3.5% clip in 2012, greatly outpacing the nation as a whole.
NEBRASKA:
• Well-being index score: 69.7
• Life expectancy: 79.8 years (15th highest)
• Percentage obese: 27.1% (25th highest)
• Median household income: $50,723 (25th highest)
• Percentage with high school diploma: 90.5% (tied-13th highest)
Nebraska had some of the nation's highest scores for both emotional and physical health. Residents were among the least likely to be depressed last year, trailing only North Dakota and New Jersey. More than 81% of residents did not have any health problems preventing them from age-appropriate activities, tied with Minnesota for the best nationwide in 2013. One factor improving Nebraskans' well-being was likely their high-quality living conditions. More residents were satisfied with their city than those in any other state, and most believed their city was improving overall. People in Nebraska were more confident about the future of the U.S. economy than residents of nearly all other states.
SOUTH DAKOTA:
• Well-being index score: 70.
• Life expectancy: 79.5 years (tied-18th highest)
• Percentage obese: 28.3% (17th highest)
• Median household income: $48,362 (22nd lowest)
• Percentage with high school diploma: 90.5% (tied-13th highest)
Respondents from South Dakota were among the most likely people in the USA to report good emotional health. More than 86% of those surveyed reported smiling or laughing within the past 24 hours, second-highest in the USA. Meanwhile, 90% reported enjoying a large portion of their day, and more than 93% felt happy during the previous 24 hours, both more than any other state. The state's 3.6% unemployment rate in December tied for the second lowest in the USA. Not only did much of the workforce have a job, but also people in the state were more likely to enjoy their work environment than residents of any other state except for neighboring North Dakota.
NORTH DAKOTA:
• Well-being index score: 70.4
• Life expectancy: 79.5 years (tied-18th highest)
• Percentage obese: 26.0% (24th lowest)
• Median household income: $53,585 (19th highest)
• Percentage with high school diploma: 91.7% (tied-5th highest)
Due in large part to profitable oil discoveries in the region, North Dakota's economy grew by more than 13% in 2012, by far the fastest growth nationwide. The state's unemployment rate has also been very low in recent years, clocking in at 2.6% in December compared with 6.7% nationally. With such low unemployment, it's perhaps not surprising that economic confidence levels in the state were among the highest 10 in the country. More than nine in 10 adults were satisfied with their jobs in 2013, one of several reasons the state's residents rated their work environment best in the nation. Supervisors in the state were more likely to treat their subordinates as partners than in any other state. With good wages and plenty of jobs, the vast majority of residents had enough money for adequate shelter, food and medicine. The proportion of respondents that were satisfied with their city and believed it was improving, however, was less than the national average.
Establish your own goals for your life. You will need to look at your family, your company, quality of life factors and economics. I recall Don Bookout, and exceptional attorney, with opportunities in many big cities. He selected the small town of Tulia, had a nice home, an airplane and a great legal practice. He told me that he could have made 3 times more in a large city but he liked the comfortable small town lifestyle. Marvin Carlile, leading banker in the Panhandle of West Texas for decades, was offere a job as president of one of the largest banks in Texas, but he preferred to be in a small west Texas town. Then there are others, who simply need to live in Chicago, New York City, or San Francisco. Select and define your goals. Live well and be well.