Tuesday, September 29, 2009

Business Trends: U-Haul Index Tells All

WHO NEEDS long drawn-out marketing studies or census data to tell us what U-Haul can tell us vividly right now? Americans are moving to more vibrant parts of the South from the stagnating Northeast and Mid-West in order to form a more perfect economic union.

Mark Perry writing at the American Enterprise blog expands on Forbes magazines annual ranking of the best and worst states for business:

Virginia nabbed the top spot with the best business climate in the country for the fourth straight year. Relative to the rest of the country, Virginia is booming. Its 6.5% unemployment rate is fifth lowest in the country with the four states ahead of it all having dramatically smaller economies and employment bases. Virginia is the only state ranked in the top 20 in each of the six broad categories we examined. The state finished in the top three in half of those categories (labor supply, regulatory environment and quality of life).

According to Perry, the two worst states for business this year are Rhode Island, which dropped five full places from last year to finish in last place in 2009, and second-to-last place Michigan, falling from 47th in 2008. Other highlights of the Forbes study include Texas ranking first for “economic climate,” Virginia ranking first for “quality of life,” and some states, such as North Dakota, Oregon, Montana, and Iowa, gaining six places or more from last year’s rankings.

With all this in mind, it doesn't take a rocket scientist to predict that population movement will therefore be from rust-belt states like Rhode Island and Michigan to places like Virginia, Texas, and even North Dakota! Lo and behold, the one-way U-Haul Index collaborates this movement.

U-Haul and Forbes join forces to predict the next great "out-migration." People, jobs, employment and business always migrate to the most business-friendly/tax friendly areas of the country which are showing vibrant signs of growth and population increase. And sadly, traffic increases too. I can attest for that being here in the District and Northern Virginia.

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